Belmond Ltd. (BEL) Stake Cut by California Public Employees Retirement System
California Public Employees Retirement System cut its stake in Belmond Ltd. (NYSE:BEL) by 2.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 236,900 shares of the company’s stock after selling 7,000 shares during the period. California Public Employees Retirement System owned 0.23% of Belmond worth $2,345,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in BEL. Fox Run Management L.L.C. purchased a new position in shares of Belmond during the second quarter valued at approximately $100,000. Pacad Investment Ltd. bought a new position in Belmond during the first quarter valued at about $203,000. BNP Paribas Arbitrage SA increased its position in Belmond by 104.9% in the second quarter. BNP Paribas Arbitrage SA now owns 28,677 shares of the company’s stock valued at $284,000 after buying an additional 14,680 shares during the last quarter. Louisiana State Employees Retirement System increased its position in Belmond by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 38,700 shares of the company’s stock valued at $383,000 after buying an additional 200 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new position in Belmond during the first quarter valued at about $401,000. Hedge funds and other institutional investors own 76.78% of the company’s stock.
Shares of Belmond Ltd. (NYSE:BEL) traded down 0.63% during mid-day trading on Monday, hitting $12.63. 181,059 shares of the stock traded hands. Belmond Ltd. has a one year low of $7.31 and a one year high of $12.86. The company’s 50 day moving average is $11.64 and its 200 day moving average is $10.30. The firm has a market capitalization of $1.28 billion, a P/E ratio of 75.63 and a beta of 1.51.
Belmond (NYSE:BEL) last announced its earnings results on Wednesday, August 3rd. The company reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by $0.01. Belmond had a return on equity of 2.70% and a net margin of 3.09%. The business had revenue of $158.10 million for the quarter, compared to analyst estimates of $163.25 million. On average, equities analysts expect that Belmond Ltd. will post $0.25 EPS for the current fiscal year.
BEL has been the topic of several research reports. Telsey Advisory Group boosted their price objective on shares of Belmond from $10.00 to $11.00 and gave the stock a “market perform” rating in a report on Friday, August 5th. Zacks Investment Research downgraded shares of Belmond from a “buy” rating to a “hold” rating in a report on Monday, August 1st. Barclays PLC restated a “buy” rating and set a $13.00 price objective on shares of Belmond in a report on Thursday, August 11th. MKM Partners upgraded shares of Belmond from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $9.50 to $12.00 in a report on Thursday, August 4th. < Finally, Deutsche Bank AG boosted their price objective on shares of Belmond from $12.00 to $13.00 and gave the stock a "buy" rating in a report on Friday, August 5th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of "Buy" and a consensus price target of C$12.67.
Belmond Ltd. (Belmond), formerly Orient-Express Hotels Ltd. is a luxury hotel company and adventure travel operator. The Company owns, partially-owns and/or operates over 40 properties consisting of approximately 30 individual deluxe hotels, over one stand-alone restaurant, approximately six tourist trains and over three river/canal cruise businesses.
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