Longfellow Investment Management Co. LLC Takes Position in EMC Corp. (EMC)
Longfellow Investment Management Co. LLC purchased a new stake in shares of EMC Corp. (NYSE:EMC) during the second quarter, according to its most recent filing with the SEC. The institutional investor purchased 320,000 shares of the information technology service provider’s stock, valued at approximately $8,694,000. EMC Corp. comprises approximately 3.1% of Longfellow Investment Management Co. LLC’s holdings, making the stock its 20th largest position.
Several other hedge funds also recently bought and sold shares of EMC. Glazer Capital LLC increased its stake in EMC Corp. by 641.6% in the first quarter. Glazer Capital LLC now owns 556,199 shares of the information technology service provider’s stock valued at $14,823,000 after buying an additional 481,199 shares in the last quarter. Sun Life Financial INC bought a new stake in EMC Corp. during the first quarter valued at $66,678,000. Wellington Management Group LLP bought a new stake in EMC Corp. during the first quarter valued at $14,078,000. Simmons Bank bought a new stake in EMC Corp. during the first quarter valued at $2,352,000. Finally, Geode Capital Management LLC increased its stake in EMC Corp. by 1.8% in the first quarter. Geode Capital Management LLC now owns 16,240,401 shares of the information technology service provider’s stock valued at $431,955,000 after buying an additional 291,846 shares in the last quarter. 79.86% of the stock is owned by hedge funds and other institutional investors.
EMC Corp. (NYSE:EMC) remained flat at $29.05 during mid-day trading on Tuesday. The company has a 50-day moving average of $28.52 and a 200-day moving average of $27.28. EMC Corp. has a 52 week low of $22.99 and a 52 week high of $29.13.
Several equities analysts recently issued reports on EMC shares. Drexel Hamilton reissued a “buy” rating on shares of EMC Corp. in a report on Sunday, July 24th. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of EMC Corp. in a report on Thursday, September 8th. Deutsche Bank AG lifted their price objective on shares of EMC Corp. from $27.00 to $29.00 and gave the company a “hold” rating in a report on Thursday, August 25th. Zacks Investment Research lowered shares of EMC Corp. from a “buy” rating to a “hold” rating in a report on Monday, June 20th. Finally, Argus reissued a “hold” rating on shares of EMC Corp. in a report on Friday, July 22nd. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. EMC Corp. currently has an average rating of “Hold” and a consensus target price of $30.84.
EMC Corp. Company Profile
EMC Corporation (EMC) develops, delivers and supports the information technology (IT) industry’s range of information infrastructure and virtual infrastructure technologies, solutions and services. EMC manages the Company as part of a federation of businesses: EMC Information Infrastructure, VMware Virtual Infrastructure, Pivotal and Virtustream.
Want to see what other hedge funds are holding EMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EMC Corp. (NYSE:EMC).
Receive News & Ratings for EMC Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EMC Corp. and related companies with MarketBeat.com's FREE daily email newsletter.