Quantbot Technologies LP Buys 6,926 Shares of Ferroglobe PLC (GSM)
Quantbot Technologies LP grew its holdings in shares of Ferroglobe PLC (NASDAQ:GSM) by 77.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,913 shares of the basic materials company’s stock after purchasing an additional 6,926 shares during the period. Quantbot Technologies LP’s holdings in Ferroglobe were worth $209,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. increased its position in Ferroglobe by 10.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,659 shares of the basic materials company’s stock worth $127,000 after purchasing an additional 1,011 shares during the period. Budros Ruhlin & Roe Inc. grew its holdings in shares of Ferroglobe by 17.2% in the 2nd quarter. Budros Ruhlin & Roe Inc. now owns 13,603 shares of the basic materials company’s stock worth $163,000 after acquiring an additional 2,000 shares during the period. IndexIQ Advisors LLC grew its holdings in shares of Ferroglobe by 752.8% in the 3rd quarter. IndexIQ Advisors LLC now owns 20,270 shares of the basic materials company’s stock worth $266,000 after acquiring an additional 17,893 shares during the period. Sei Investments Co. grew its holdings in shares of Ferroglobe by 30,358.6% in the 3rd quarter. Sei Investments Co. now owns 35,332 shares of the basic materials company’s stock worth $465,000 after acquiring an additional 35,216 shares during the period. Finally, Balter Liquid Alternatives LLC acquired a new stake in shares of Ferroglobe in the 2nd quarter worth approximately $437,000. Institutional investors own 36.62% of the company’s stock.
Shares of Ferroglobe PLC (GSM) opened at $16.32 on Friday. Ferroglobe PLC has a 52 week low of $8.54 and a 52 week high of $16.50. The company has a quick ratio of 1.42, a current ratio of 1.80 and a debt-to-equity ratio of 0.45.
Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings results on Monday, November 27th. The basic materials company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Ferroglobe had a negative return on equity of 0.75% and a negative net margin of 2.84%. The company had revenue of $451.60 million for the quarter, compared to analyst estimates of $435.15 million. The company’s quarterly revenue was up 23.8% on a year-over-year basis. equities analysts predict that Ferroglobe PLC will post 0.1 EPS for the current year.
A number of research firms recently weighed in on GSM. B. Riley restated a “buy” rating and issued a $20.00 price target (up previously from $16.00) on shares of Ferroglobe in a report on Wednesday. Jefferies Group set a $18.00 target price on Ferroglobe and gave the company a “buy” rating in a research note on Tuesday. Stifel Nicolaus upped their target price on Ferroglobe from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. BidaskClub raised Ferroglobe from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 20th. Finally, Zacks Investment Research lowered Ferroglobe from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $19.00.
Ferroglobe PLC, formerly VeloNewco Limited, is engaged in silicon and specialty metals industry. The Company produces silicon metal and silicon- and manganese-based alloy, which serves customers in the chemical, aluminum, solar, steel and ductile iron foundry industries. It operates through two segments: Electrometallurgy and Energy.
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