PSquared Asset Management AG Acquires New Position in Cnova NV (CNV)
PSquared Asset Management AG acquired a new stake in shares of Cnova NV (NASDAQ:CNV) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 42,911 shares of the company’s stock, valued at approximately $230,000. Cnova NV comprises approximately 1.2% of PSquared Asset Management AG’s holdings, making the stock its 4th largest position.
A number of other hedge funds also recently bought and sold shares of the stock. Boussard & Gavaudan Investment Management LLP boosted its position in Cnova NV by 138.4% in the second quarter. Boussard & Gavaudan Investment Management LLP now owns 1,830,594 shares of the company’s stock valued at $9,153,000 after buying an additional 1,062,702 shares during the last quarter. FMR LLC boosted its position in Cnova NV by 4.8% in the second quarter. FMR LLC now owns 1,729,633 shares of the company’s stock valued at $8,562,000 after buying an additional 79,160 shares during the last quarter. Geode Capital Management LLC boosted its position in Cnova NV by 4.9% in the first quarter. Geode Capital Management LLC now owns 177,102 shares of the company’s stock valued at $531,000 after buying an additional 8,229 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in Cnova NV during the second quarter valued at about $418,000. 1.97% of the stock is owned by hedge funds and other institutional investors.
Shares of Cnova NV (NASDAQ:CNV) traded down 0.16% during midday trading on Monday, reaching $5.39. The company’s stock had a trading volume of 16,115 shares. Cnova NV has a 12 month low of $2.02 and a 12 month high of $5.41. The stock’s market capitalization is $2.38 billion. The stock’s 50 day moving average is $5.33 and its 200 day moving average is $4.70.
Cnova NV (NASDAQ:CNV) last issued its earnings results on Tuesday, July 26th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.14. Cnova NV had a negative return on equity of 212.82% and a negative net margin of 11.39%. On average, analysts forecast that Cnova NV will post ($0.24) EPS for the current fiscal year.
Separately, Zacks Investment Research upgraded Cnova NV from a “sell” rating to a “hold” rating in a research report on Tuesday, September 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. Cnova NV currently has an average rating of “Hold” and an average price target of $3.83.
Cnova NV Company Profile
Cnova N.V. is an e-commerce company with operations in Europe, Latin America, Asia and Africa. The Company operates in two segments: Cdiscount and Cnova Brazil. Cdiscount segment consists of amounts earned from retail sales of consumer products through Cdiscount.com and monshowroom.com Websites in France and other Websites created by Cdiscount outside of France.
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