Renaissance Technologies LLC Cuts Stake in Black Diamond, Inc. (BDE)
Renaissance Technologies LLC cut its position in Black Diamond, Inc. (NASDAQ:BDE) by 16.9% during the first quarter, Holdings Channel reports. The firm owned 520,200 shares of the company’s stock after selling 106,100 shares during the period. Renaissance Technologies LLC’s holdings in Black Diamond were worth $2,835,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the company. Kennedy Capital Management Inc. raised its stake in Black Diamond by 1.6% in the first quarter. Kennedy Capital Management Inc. now owns 1,435,266 shares of the company’s stock valued at $7,822,000 after buying an additional 22,055 shares during the last quarter. Segantii Capital Management Ltd raised its stake in Black Diamond by 567.4% in the first quarter. Segantii Capital Management Ltd now owns 28,700 shares of the company’s stock valued at $156,000 after buying an additional 24,400 shares during the last quarter. California Public Employees Retirement System purchased a new stake in Black Diamond during the first quarter valued at approximately $105,000. Gagnon Securities LLC raised its stake in Black Diamond by 5.6% in the first quarter. Gagnon Securities LLC now owns 74,761 shares of the company’s stock valued at $407,000 after buying an additional 3,978 shares during the last quarter. Finally, Systematic Financial Management LP purchased a new stake in Black Diamond during the first quarter valued at approximately $1,300,000. 44.38% of the stock is owned by institutional investors.
Black Diamond, Inc. (NASDAQ BDE) traded up 0.76% during mid-day trading on Friday, hitting $6.65. 225,449 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $6.73 and its 200-day moving average price is $5.95. Black Diamond, Inc. has a one year low of $4.41 and a one year high of $7.15.
Black Diamond (NASDAQ:BDE) last announced its quarterly earnings data on Monday, August 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by $0.08. The company had revenue of $30.70 million during the quarter, compared to analysts’ expectations of $30.63 million. Black Diamond had a negative net margin of 4.51% and a negative return on equity of 0.72%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.08) EPS. On average, equities analysts forecast that Black Diamond, Inc. will post $0.07 earnings per share for the current fiscal year.
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BDE has been the subject of several analyst reports. Zacks Investment Research raised shares of Black Diamond from a “hold” rating to a “buy” rating and set a $7.25 price target for the company in a research report on Tuesday, July 25th. Roth Capital set a $7.00 price target on shares of Black Diamond and gave the company a “hold” rating in a research report on Tuesday, August 8th. Finally, Stifel Nicolaus raised shares of Black Diamond from a “hold” rating to a “buy” rating and increased their price target for the company from $6.00 to $8.00 in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $7.42.
Black Diamond Company Profile
Black Diamond, Inc, through its ownership of Black Diamond Equipment, Ltd., is engaged in designing, manufacturing and marketing of active outdoor performance equipment and apparel for climbing, mountaineering, backpacking, skiing and a range of other year-round outdoor recreation activities. Its principal brands include Black Diamond and PIEPS.
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