California Public Employees Retirement System Acquires 14,800 Shares of Arctic Cat Inc. (ACAT)
California Public Employees Retirement System raised its position in shares of Arctic Cat Inc. (NASDAQ:ACAT) by 32.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,900 shares of the company’s stock after buying an additional 14,800 shares during the period. California Public Employees Retirement System owned about 0.46% of Arctic Cat worth $1,018,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of ACAT. Emerald Acquisition Ltd. acquired a new position in Arctic Cat during the second quarter worth approximately $4,780,000. Metropolitan Life Insurance Co. NY raised its position in Arctic Cat by 2.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 10,144 shares of the company’s stock worth $170,000 after buying an additional 277 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Arctic Cat during the first quarter worth approximately $658,000. Geode Capital Management LLC raised its position in Arctic Cat by 6.5% in the first quarter. Geode Capital Management LLC now owns 88,954 shares of the company’s stock worth $1,494,000 after buying an additional 5,395 shares in the last quarter. Finally, Kempen Capital Management N.V. raised its position in Arctic Cat by 77.8% in the first quarter. Kempen Capital Management N.V. now owns 9,883 shares of the company’s stock worth $166,000 after buying an additional 4,323 shares in the last quarter. Institutional investors own 99.54% of the company’s stock.
Arctic Cat Inc. (NASDAQ:ACAT) traded up 0.60% during mid-day trading on Tuesday, reaching $14.98. 10,862 shares of the company were exchanged. The stock’s market capitalization is $195.44 million. Arctic Cat Inc. has a 12 month low of $8.90 and a 12 month high of $25.60. The company’s 50 day moving average price is $14.63 and its 200-day moving average price is $15.66.
Arctic Cat (NASDAQ:ACAT) last posted its quarterly earnings results on Friday, July 29th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.36) by $0.45. Arctic Cat had a negative return on equity of 10.63% and a negative net margin of 3.10%. The business earned $104.90 million during the quarter, compared to the consensus estimate of $117.81 million. During the same quarter in the previous year, the business posted ($0.08) earnings per share. The company’s quarterly revenue was down 22.0% compared to the same quarter last year. On average, equities analysts expect that Arctic Cat Inc. will post ($0.92) earnings per share for the current fiscal year.
A number of research analysts have commented on the stock. KeyCorp restated a “buy” rating and issued a $22.00 price objective on shares of Arctic Cat in a research note on Thursday, October 6th. Zacks Investment Research upgraded shares of Arctic Cat from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 4th. Jefferies Group began coverage on shares of Arctic Cat in a research note on Friday, September 30th. They set a “buy” rating and a $19.00 price target on the stock. Wells Fargo & Co. reiterated a “hold” rating on shares of Arctic Cat in a research note on Tuesday, September 20th. Finally, Wunderlich upgraded shares of Arctic Cat from a “sell” rating to a “hold” rating and set a $13.00 price target on the stock in a research note on Wednesday, September 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Arctic Cat has a consensus rating of “Hold” and an average target price of $16.57.
In other Arctic Cat news, Director Andrew S. Duff purchased 5,000 shares of Arctic Cat stock in a transaction dated Wednesday, August 3rd. The shares were bought at an average cost of $14.89 per share, for a total transaction of $74,450.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.70% of the stock is currently owned by insiders.
About Arctic Cat
Arctic Cat Inc (Arctic Cat) designs, engineers, manufactures and markets snowmobiles and all-terrain vehicles (ATVs) and recreational off-highway vehicles (side-by-sides or ROVs), as well as related parts, garments and accessories (PG&A). The Company offers its products under the Arctic Cat and MotorFist brand names.
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