Belmond Ltd. (BEL) Sees Unusually-High Trading Volume
Shares of Belmond Ltd. (NYSE:BEL) saw an uptick in trading volume on Friday . 858,171 shares changed hands during trading, an increase of 1% from the previous session’s volume of 852,967 shares.The stock last traded at $9.99 and had previously closed at $9.69.
Several research firms recently issued reports on BEL. Zacks Investment Research upgraded Belmond from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Friday. Deutsche Bank AG restated a “buy” rating on shares of Belmond in a research note on Sunday, June 26th. Finally, Telsey Advisory Group upgraded Belmond from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $8.50 to $10.00 in a research note on Friday, May 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of C$11.67.
The stock’s 50 day moving average is $9.56 and its 200-day moving average is $9.19. The firm has a market cap of $1.02 billion and a PE ratio of 42.74.
Belmond (NYSE:BEL) last issued its earnings results on Thursday, May 5th. The company reported ($0.02) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.09. The firm earned $99.10 million during the quarter, compared to analyst estimates of $98.34 million. Equities research analysts forecast that Belmond Ltd. will post $0.24 EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of the stock. Engineers Gate Manager LP increased its stake in shares of Belmond by 156.4% in the fourth quarter. Engineers Gate Manager LP now owns 137,872 shares of the company’s stock valued at $1,310,000 after buying an additional 84,096 shares in the last quarter. NorthCoast Asset Management LLC purchased a new stake in shares of Belmond during the fourth quarter valued at approximately $2,257,000. Bank of Montreal Can increased its stake in shares of Belmond by 34.9% in the fourth quarter. Bank of Montreal Can now owns 186,088 shares of the company’s stock valued at $1,768,000 after buying an additional 48,188 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Belmond by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,210,933 shares of the company’s stock valued at $78,005,000 after buying an additional 283,720 shares in the last quarter. Finally, Royce & Associates LLC increased its stake in shares of Belmond by 1.9% in the fourth quarter. Royce & Associates LLC now owns 1,898,022 shares of the company’s stock valued at $18,031,000 after buying an additional 36,103 shares in the last quarter.
Belmond Ltd. (Belmond), formerly Orient-Express Hotels Ltd. is a luxury hotel company and adventure travel operator. Belmond manages around 45 properties, consisting of around 35 individual deluxe hotels, one stand-alone restaurant, six tourist trains and three river/canal cruise businesses. Belmond’s 45 properties operate in approximately 22 countries.
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