Altium Wealth Management LLC Sells 1064 Shares of BlackRock, Inc. (NYSE:BLK)

Altium Wealth Management LLC reduced its position in shares of BlackRock, Inc. (NYSE:BLK) by 26.5% in the 2nd quarter, according to its most …

BlackRock logoAltium Wealth Management LLC reduced its position in shares of BlackRock, Inc. (NYSE:BLK) by 26.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,958 shares of the asset manager’s stock after selling 1,064 shares during the period. Altium Wealth Management LLC’s holdings in BlackRock were worth $1,388,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisory Alpha LLC acquired a new stake in BlackRock during the first quarter worth approximately $26,000. Valley National Advisers Inc. grew its position in BlackRock by 81.8% during the first quarter. Valley National Advisers Inc. now owns 60 shares of the asset manager’s stock worth $26,000 after buying an additional 27 shares in the last quarter. SevenBridge Financial Group LLC acquired a new stake in shares of BlackRock in the 2nd quarter valued at $38,000. Harvest Group Wealth Management LLC acquired a new stake in shares of BlackRock in the 1st quarter valued at $37,000. Finally, Rational Advisors LLC boosted its holdings in shares of BlackRock by 260.0% in the 1st quarter. Rational Advisors LLC now owns 90 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 65 shares in the last quarter. Institutional investors and hedge funds own 81.68% of the company’s stock.

Shares of BlackRock stock opened at $431.32 on Tuesday. The company has a market cap of $69.26 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 1.66 and a beta of 1.51. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.49 and a quick ratio of 3.49. BlackRock, Inc. has a one year low of $360.79 and a one year high of $494.91. The company has a 50-day moving average price of $469.16.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, July 19th. The asset manager reported $6.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.52 by ($0.11). BlackRock had a net margin of 30.25% and a return on equity of 13.23%. The company had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the firm posted $6.66 EPS. BlackRock’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, sell-side analysts predict that BlackRock, Inc. will post 27.62 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Thursday, September 5th will be paid a $3.30 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.06%. BlackRock’s payout ratio is presently 49.02%.

A number of equities research analysts have weighed in on BLK shares. JPMorgan Chase & Co. reduced their target price on BlackRock from $527.00 to $525.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Citigroup raised their price objective on BlackRock from $450.00 to $500.00 and gave the company a “buy” rating in a report on Monday, April 15th. Wells Fargo & Co raised their price objective on BlackRock from $460.00 to $480.00 and gave the company an “average” rating in a report on Wednesday, April 17th. Morgan Stanley raised their target price on BlackRock from $550.00 to $553.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Finally, UBS Group raised their target price on BlackRock from $515.00 to $525.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $499.03.

BlackRock Profile

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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Fluent (NASDAQ:FLNT) Downgraded by ValuEngine

Two Sigma Investments LP acquired a new stake in shares of Fluent during the fourth quarter worth $48,000. Finally, Squarepoint Ops LLC acquired a …

Fluent logoFluent (NASDAQ:FLNT) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Tuesday, ValuEngine reports.

Several other equities analysts have also issued reports on the company. Barrington Research reiterated a “buy” rating and issued a $9.00 target price on shares of Fluent in a research note on Wednesday, May 29th. Zacks Investment Research lowered Fluent from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Finally, Roth Capital upgraded Fluent from a “neutral” rating to a “buy” rating and lifted their target price for the company from $5.50 to $8.50 in a research note on Thursday, May 9th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $7.92.

FLNT opened at $4.49 on Tuesday. The company has a 50-day moving average of $5.38. Fluent has a 1 year low of $1.95 and a 1 year high of $7.47. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.29 and a quick ratio of 2.29. The stock has a market capitalization of $344.59 million, a price-to-earnings ratio of 44.90, a PEG ratio of 0.64 and a beta of 0.86.

Fluent (NASDAQ:FLNT) last posted its earnings results on Wednesday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). Fluent had a net margin of 3.76% and a return on equity of 5.55%. The company had revenue of $66.56 million during the quarter, compared to analysts’ expectations of $65.61 million. As a group, research analysts predict that Fluent will post 0.19 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its position in Fluent by 7.2% in the 4th quarter. BlackRock Inc. now owns 1,797,693 shares of the company’s stock valued at $6,472,000 after acquiring an additional 121,479 shares during the period. Bank of New York Mellon Corp increased its position in shares of Fluent by 27.2% during the fourth quarter. Bank of New York Mellon Corp now owns 141,004 shares of the company’s stock worth $507,000 after buying an additional 30,162 shares during the period. Geode Capital Management LLC increased its position in shares of Fluent by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 429,741 shares of the company’s stock worth $1,547,000 after buying an additional 17,108 shares during the period. Two Sigma Investments LP acquired a new stake in shares of Fluent during the fourth quarter worth $48,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Fluent during the fourth quarter worth $37,000. 27.36% of the stock is owned by institutional investors and hedge funds.

About Fluent

Fluent, Inc provides data-driven digital marketing services primarily in the United States. The company also offers customer acquisition services by operating digital marketing campaigns, through which the company connects its advertiser clients with consumers. It delivers data and performance-based marketing executions to approximately 500 consumer brands, direct marketers, and agencies across a range of industries, including financial services, retail and consumer, media and entertainment, staffing and recruitment, and marketing services.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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BlackRock, Inc. (NYSE:BLK) Short Interest Update

BlackRock, Inc. (NYSE:BLK) was the recipient of a significant drop in short interest in June. As of June 30th, there was short interest totalling 1,609,700 …

BlackRock logoBlackRock, Inc. (NYSE:BLK) was the recipient of a significant drop in short interest in June. As of June 30th, there was short interest totalling 1,609,700 shares, a drop of 7.5% from the May 30th total of 1,741,000 shares. Based on an average daily trading volume, of 504,700 shares, the short-interest ratio is presently 3.2 days. Currently, 1.1% of the company’s stock are sold short.

Shares of BlackRock stock opened at $431.32 on Tuesday. BlackRock has a 1 year low of $360.79 and a 1 year high of $494.91. The company has a market capitalization of $69.26 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 1.66 and a beta of 1.52. The company has a current ratio of 3.49, a quick ratio of 3.49 and a debt-to-equity ratio of 0.83. The company’s 50 day moving average is $469.16.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, July 19th. The asset manager reported $6.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.52 by ($0.11). The company had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.57 billion. BlackRock had a net margin of 30.25% and a return on equity of 13.23%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.66 earnings per share. Analysts anticipate that BlackRock will post 27.62 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Thursday, September 5th will be issued a $3.30 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.06%. BlackRock’s payout ratio is 49.02%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Valley National Advisers Inc. increased its stake in shares of BlackRock by 81.8% in the first quarter. Valley National Advisers Inc. now owns 60 shares of the asset manager’s stock worth $26,000 after buying an additional 27 shares during the period. Ellis Investment Partners LLC purchased a new position in shares of BlackRock in the first quarter worth $26,000. Advisory Alpha LLC purchased a new position in shares of BlackRock in the first quarter worth $26,000. Massey Quick Simon & CO. LLC purchased a new position in shares of BlackRock in the second quarter worth $31,000. Finally, Harvest Group Wealth Management LLC purchased a new position in shares of BlackRock in the first quarter worth $37,000. Hedge funds and other institutional investors own 81.68% of the company’s stock.

A number of research analysts have weighed in on the stock. Barclays raised their price objective on shares of BlackRock from $515.00 to $540.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. JPMorgan Chase & Co. lowered their target price on shares of BlackRock from $527.00 to $525.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Wells Fargo & Co raised their price objective on shares of BlackRock from $460.00 to $480.00 and gave the stock an “average” rating in a report on Wednesday, April 17th. UBS Group raised their price objective on shares of BlackRock from $515.00 to $525.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Finally, Morgan Stanley raised their price objective on shares of BlackRock from $550.00 to $553.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $499.03.

About BlackRock

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.

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GoWork Raises $53 Million Debt Funding From BlackRock, CLSA Capital

GoWork has raised $53 million in debt funding from U.S.-based investment manager BlackRock Inc. and alternative assets manager CLSA Capital …

“GoWork has raised $53 million from a private fund managed by BlackRock’s Private Credit team, along with CLSA Capital Partners’ Special Situations Group, in a round of debt funding,” the Gurugram-based co-working startup said in a statement.

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BlackRock leads $53 mn debt financing round in coworking firm GoWork

BlackRock Inc, the world’s biggest asset management firm, has led a $53 million (Rs 375 crore) debt funding round in Gurugram-based GoWork.

BlackRock Inc, the world’s biggest asset management firm, has led a $53 million (Rs 375 crore) debt funding round in Gurugram-based GoWork.

GoWork said in a statement it raised the money from a fund managed by BlackRock’s Private Credit team, along with CLSA Capital Partners’ Special Situations Group.

The investment in the GoWork, which is operated by Nimitaya Promoters Pvt. Ltd, is the first onshore private financing transaction in India by the New York-headquartered BlackRock.

GoWork said it will use the funding to grow its business and provide value-added services to its clients.

Company chief executive officer and chief evangelist Sudeep Singh said BlackRock and CLSA’s support would help GoWork to scale its growth across India. The funding would also help the startup to address the need of creating a support system catering to the infrastructural and business needs.

Separately, BlackRock’s head of Asian credit Neeraj Seth said the investment management firm was confident of its investment considering GoWork’s approach to the coworking model.

“We believe GoWork is an innovative leader in this fast-growing sector,” CLSA Capital Partners special situations group managing director Vaibhav Totla said.

GoWork currently has a capacity of 12,000 seats across eight lakh square feet in two offices in Gurugram. The company provides its clients with full managed office facilities, including other services such as gym, meditation zones and spas. The company says it will also add pet care facilities and children’s crèches to its amenities.

The development comes days after BlackRock raised $2 billion for its flagship opportunistic credit fund to invest in corporate credit assets across the world. The fund will invest in corporate credit assets across geographies and industries while seeking value across the credit cycle. BlackRock’s assets under management stands at $6.84 trillion as of June 2019.

Deals in the coworking segment

Co-working as a segment has taken off in recent years, with startups and established firms seeking to differentiate themselves by providing access to features which are economically flexible, and are not found in traditional working spaces.

Earlier this month, the Delhi-based GoHive raised Rs 2.5 crore. The startup said it will use the funds to double the number of seats at its centres to 5,000 within a year in the National Capital Region, Bengaluru and Mumbai.

Last month, the SoftBank-backed OYO Hotels & Homes acquired co-working space provider Innov8 to expand in the fast-growing segment. The move is part of the hospitality unicorn strategy of entering new areas to diversify its operations.

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