Municipal Employees Retirement System of Michigan Reduces Position in CoreLogic, Inc. (NYSE:CLGX)
Municipal Employees Retirement System of Michigan cut its position in shares of CoreLogic, Inc. (NYSE:CLGX) by 18.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,670 shares of the business services provider’s stock after selling 7,350 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in CoreLogic were worth $1,417,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CLGX. BlackRock Inc. raised its stake in CoreLogic by 13,378.0% in the first quarter. BlackRock Inc. now owns 6,757,326 shares of the business services provider’s stock valued at $275,158,000 after buying an additional 6,707,190 shares during the period. Vanguard Group Inc. raised its stake in CoreLogic by 4.4% in the first quarter. Vanguard Group Inc. now owns 7,213,386 shares of the business services provider’s stock valued at $293,729,000 after buying an additional 301,853 shares during the period. First American Trust FSB raised its stake in CoreLogic by 796.2% in the second quarter. First American Trust FSB now owns 286,935 shares of the business services provider’s stock valued at $12,448,000 after buying an additional 254,919 shares during the period. YG Partners LLC bought a new stake in CoreLogic during the first quarter valued at about $9,426,000. Finally, FMR LLC raised its stake in CoreLogic by 30.7% in the first quarter. FMR LLC now owns 918,295 shares of the business services provider’s stock valued at $37,393,000 after buying an additional 215,633 shares during the period. 90.95% of the stock is currently owned by hedge funds and other institutional investors.
CoreLogic, Inc. (CLGX) opened at 45.48 on Monday. CoreLogic, Inc. has a 52-week low of $34.59 and a 52-week high of $45.99. The firm has a 50-day moving average price of $43.61 and a 200 day moving average price of $40.92. The company has a market capitalization of $3.83 billion, a P/E ratio of 41.76 and a beta of 0.97.
CoreLogic (NYSE:CLGX) last posted its quarterly earnings data on Tuesday, July 25th. The business services provider reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.06. CoreLogic had a return on equity of 17.07% and a net margin of 4.99%. The firm had revenue of $473.98 million during the quarter, compared to analysts’ expectations of $478.72 million. During the same period in the prior year, the business earned $0.65 EPS. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, analysts predict that CoreLogic, Inc. will post $2.33 earnings per share for the current fiscal year.
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Several analysts have recently issued reports on the company. Zacks Investment Research lowered CoreLogic from a “buy” rating to a “hold” rating in a report on Thursday. Keefe, Bruyette & Woods reissued a “hold” rating and set a $46.00 target price on shares of CoreLogic in a report on Thursday, July 27th. Oppenheimer Holdings, Inc. increased their target price on CoreLogic from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. BidaskClub lowered CoreLogic from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Robert W. Baird increased their target price on CoreLogic from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. CoreLogic currently has an average rating of “Hold” and a consensus price target of $45.00.
In related news, General Counsel Stergios Theologides sold 5,000 shares of the stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $44.00, for a total transaction of $220,000.00. Following the completion of the sale, the general counsel now directly owns 63,806 shares in the company, valued at approximately $2,807,464. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary Lee Widener sold 1,250 shares of the stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $41.65, for a total value of $52,062.50. Following the sale, the director now owns 10,354 shares of the company’s stock, valued at $431,244.10. The disclosure for this sale can be found here. Insiders sold a total of 11,410 shares of company stock valued at $490,997 over the last quarter. Company insiders own 1.20% of the company’s stock.
CoreLogic, Inc is a provider of property information, analytics and data-enabled services. The Company provides detailed coverage of property, mortgages and other encumbrances, property risk and replacement cost, consumer credit, tenancy, location, hazard risk and related performance information. Its segments include Property Intelligence (PI), Risk Management and Work Flow (RMW), and Corporate.
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