Emerald Acquisition Ltd. Takes Position in Covisint Corp. (COVS)
Emerald Acquisition Ltd. purchased a new stake in Covisint Corp. (NASDAQ:COVS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 419,911 shares of the company’s stock, valued at approximately $915,000. Emerald Acquisition Ltd. owned 1.04% of Covisint Corp. as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. raised its position in Covisint Corp. by 6.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 172,674 shares of the company’s stock valued at $345,000 after buying an additional 10,441 shares during the period. Geode Capital Management LLC raised its position in Covisint Corp. by 5.0% in the first quarter. Geode Capital Management LLC now owns 222,039 shares of the company’s stock valued at $444,000 after buying an additional 10,555 shares during the period. Finally, Roumell Asset Management LLC raised its position in Covisint Corp. by 9.1% in the first quarter. Roumell Asset Management LLC now owns 2,026,292 shares of the company’s stock valued at $4,053,000 after buying an additional 168,438 shares during the period. 69.32% of the stock is currently owned by institutional investors.
Covisint Corp. (NASDAQ:COVS) traded down 0.46% on Tuesday, reaching $2.18. The company’s stock had a trading volume of 605 shares. The company’s market capitalization is $88.46 million. The firm’s 50 day moving average price is $2.21 and its 200-day moving average price is $2.07. Covisint Corp. has a 52 week low of $1.50 and a 52 week high of $2.66.
Covisint Corp. (NASDAQ:COVS) last issued its earnings results on Thursday, August 4th. The company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.01. Covisint Corp. had a negative return on equity of 20.59% and a negative net margin of 17.75%. On average, equities analysts predict that Covisint Corp. will post ($0.29) EPS for the current year.
Covisint Corp. Company Profile
Covisint Corporation provides an open, enterprise class cloud platform (Platform) enabling organizations to build solutions that identify, authenticate and connect users, devices, applications and information. The Company’s Auto Supply Portal is involved in the development and integration of three cloud-based technologies, such as identity management, data integration and exchange services, and portal services.
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