Tata Motors Ltd (NYSE:TTM) Stake Boosted by ClariVest Asset Management LLC
ClariVest Asset Management LLC raised its position in Tata Motors Ltd (NYSE:TTM) by 36.8% during the second quarter, Holdings Channel reports. The firm owned 414,353 shares of the company’s stock after buying an additional 111,500 shares during the period. ClariVest Asset Management LLC’s holdings in Tata Motors were worth $13,678,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. FMR LLC increased its position in shares of Tata Motors by 16.5% in the fourth quarter. FMR LLC now owns 47,240 shares of the company’s stock worth $1,625,000 after buying an additional 6,700 shares during the period. Daiwa SB Investments Ltd. increased its position in shares of Tata Motors by 31.8% in the first quarter. Daiwa SB Investments Ltd. now owns 2,900 shares of the company’s stock worth $103,000 after buying an additional 700 shares during the period. Capstone Asset Management Co. increased its position in shares of Tata Motors by 2.6% in the first quarter. Capstone Asset Management Co. now owns 12,384 shares of the company’s stock worth $441,000 after buying an additional 310 shares during the period. Fox Run Management L.L.C. increased its position in shares of Tata Motors by 106.1% in the first quarter. Fox Run Management L.L.C. now owns 13,600 shares of the company’s stock worth $485,000 after buying an additional 7,000 shares during the period. Finally, Telemus Capital LLC acquired a new position in shares of Tata Motors during the first quarter worth $370,000. 13.27% of the stock is currently owned by hedge funds and other institutional investors.
Tata Motors Ltd (TTM) opened at 29.40 on Friday. The firm has a market cap of $19.97 billion, a P/E ratio of 18.09 and a beta of 2.26. Tata Motors Ltd has a 52-week low of $29.20 and a 52-week high of $44.79. The stock has a 50 day moving average price of $34.15 and a 200 day moving average price of $35.25.
Tata Motors (NYSE:TTM) last released its quarterly earnings data on Wednesday, August 9th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by $0.21. Tata Motors had a net margin of 3.38% and a return on equity of 19.45%. The business had revenue of $9.30 billion during the quarter. Equities analysts predict that Tata Motors Ltd will post $1.84 earnings per share for the current fiscal year.
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TTM has been the topic of a number of recent analyst reports. Zacks Investment Research raised Tata Motors from a “sell” rating to a “hold” rating and set a $39.00 price target on the stock in a research report on Saturday, April 15th. ValuEngine downgraded Tata Motors from a “buy” rating to a “hold” rating in a research report on Saturday, June 3rd. BidaskClub downgraded Tata Motors from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Morgan Stanley downgraded Tata Motors from an “overweight” rating to an “equal weight” rating in a research report on Thursday. Finally, Sanford C. Bernstein downgraded Tata Motors from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $45.00 to $30.00 in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $32.50.
In other Tata Motors news, Director Carlos Yong acquired 300,000 shares of Tata Motors stock in a transaction that occurred on Tuesday, June 13th. The stock was acquired at an average cost of $0.30 per share, for a total transaction of $90,000.00.
About Tata Motors
Tata Motors Limited is an automobile company. The Company is engaged in manufacture of motor vehicles. The Company is engaged mainly in the business of automobile products consisting of all types of commercial and passenger vehicles, including financing of the vehicles sold by the Company. The Company’s segments include automotive operations and all other operations.
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