Glazer Capital LLC Acquires 182,254 Shares of Reynolds American, Inc. (RAI)
Glazer Capital LLC raised its holdings in Reynolds American, Inc. (NYSE:RAI) by 37.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 674,616 shares of the company’s stock after purchasing an additional 182,254 shares during the quarter. Reynolds American accounts for approximately 2.8% of Glazer Capital LLC’s investment portfolio, making the stock its 11th biggest holding. Glazer Capital LLC’s holdings in Reynolds American were worth $43,877,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of RAI. BlackRock Inc. boosted its holdings in Reynolds American by 3,610.0% in the first quarter. BlackRock Inc. now owns 46,203,722 shares of the company’s stock valued at $2,911,755,000 after purchasing an additional 44,958,351 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Reynolds American by 48,701.2% in the first quarter. Renaissance Technologies LLC now owns 5,514,535 shares of the company’s stock valued at $347,526,000 after purchasing an additional 5,503,235 shares during the last quarter. Pentwater Capital Management LP purchased a new stake in Reynolds American in the first quarter valued at $321,455,000. MARSHALL WACE ASIA Ltd purchased a new stake in Reynolds American in the first quarter valued at $122,475,000. Finally, Marshall Wace North America L.P. purchased a new stake in Reynolds American in the first quarter valued at $122,475,000. 46.34% of the stock is currently owned by institutional investors.
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Reynolds American, Inc. (NYSE RAI) traded down 2.23% during midday trading on Friday, hitting $65.40. 159,452,032 shares of the stock traded hands. Reynolds American, Inc. has a one year low of $43.38 and a one year high of $67.81. The company’s 50 day moving average is $65.25 and its 200-day moving average is $64.00.
Several equities research analysts have commented on the stock. Jefferies Group LLC set a $60.00 price target on shares of Reynolds American and gave the company a “hold” rating in a report on Friday, August 25th. BidaskClub lowered shares of Reynolds American from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 10th. Cowen and Company reaffirmed a “hold” rating and issued a $65.00 price target on shares of Reynolds American in a report on Tuesday, July 11th. Finally, Vetr raised shares of Reynolds American from a “buy” rating to a “strong-buy” rating and set a $73.00 price target on the stock in a report on Monday, June 12th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $59.82.
About Reynolds American
Reynolds American Inc (RAI) is a holding company. The Company’s segments include RJR Tobacco, which consists of the primary operations of its subsidiary, R. J. Reynolds Tobacco Company; Santa Fe, which consists of the primary operations of its subsidiary, Santa Fe Natural Tobacco Company, Inc, and American Snuff, which consists of the primary operations of its subsidiary, American Snuff Company, LLC.
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