Nexeo Solutions (NXEO) Earns Hold Rating from Jefferies Group LLC
Jefferies Group LLC reaffirmed their hold rating on shares of Nexeo Solutions (NASDAQ:NXEO) in a research note published on Friday. Jefferies Group LLC currently has a $8.50 target price on the basic materials company’s stock.
A number of other analysts have also recently issued reports on the company. Zacks Investment Research upgraded Nexeo Solutions from a sell rating to a hold rating in a research report on Saturday. Credit Suisse Group lowered their price objective on Nexeo Solutions from $10.00 to $8.50 and set a neutral rating on the stock in a research report on Friday, August 11th.
Nexeo Solutions (NASDAQ:NXEO) opened at 7.20 on Friday. Nexeo Solutions has a 52 week low of $6.74 and a 52 week high of $9.94. The company has a market capitalization of $642.33 million and a PE ratio of 58.06. The company’s 50-day moving average price is $7.46 and its 200 day moving average price is $8.45.
In other news, major shareholder Select Maple Fund L.P. Fpa acquired 162,190 shares of the stock in a transaction dated Monday, August 21st. The shares were acquired at an average cost of $7.30 per share, for a total transaction of $1,183,987.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Park West Asset Management Llc sold 2,000,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $8.15, for a total value of $16,300,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 807,700 shares of company stock worth $5,802,958 and have sold 2,222,562 shares worth $18,127,522. Insiders own 0.07% of the company’s stock.
A number of large investors have recently made changes to their positions in NXEO. Steinberg Global Asset Management grew its position in Nexeo Solutions by 3.7% in the second quarter. Steinberg Global Asset Management now owns 27,699 shares of the basic materials company’s stock valued at $230,000 after acquiring an additional 1,000 shares during the period. Spark Investment Management LLC bought a new stake in Nexeo Solutions in the second quarter valued at $329,000. Trexquant Investment LP bought a new stake in Nexeo Solutions in the second quarter valued at $213,000. Schwab Charles Investment Management Inc. grew its position in Nexeo Solutions by 41.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 150,756 shares of the basic materials company’s stock valued at $1,252,000 after acquiring an additional 44,316 shares during the period. Finally, Rhumbline Advisers bought a new stake in Nexeo Solutions in the second quarter valued at $229,000. Hedge funds and other institutional investors own 94.07% of the company’s stock.
Nexeo Solutions Company Profile
Nexeo Solutions Inc, formerly WL Ross Holding Corp., is global distributor of chemicals products in North America and Asia, and plastics products in North America, Europe, the Middle East and Africa (EMEA) and Asia. The Company provides services, such as custom blending, packaging and re-packaging, private-label manufacturing and product testing in the form of chemical analysis, product performance analysis and product development.
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