Black Diamond Inc. (BDE) Stake Increased by Brown Advisory Inc.
Brown Advisory Inc. increased its stake in shares of Black Diamond Inc. (NASDAQ:BDE) by 2.6% during the second quarter, Holdings Channel reports. The fund owned 1,354,681 shares of the company’s stock after buying an additional 33,948 shares during the period. Brown Advisory Inc. owned 4.51% of Black Diamond worth $5,608,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the stock. Nationwide Fund Advisors boosted its stake in shares of Black Diamond by 99.0% in the second quarter. Nationwide Fund Advisors now owns 29,310 shares of the company’s stock valued at $121,000 after buying an additional 14,578 shares in the last quarter. Alambic Investment Management L.P. acquired a new stake in shares of Black Diamond during the second quarter valued at $152,000. Gagnon Securities LLC boosted its stake in shares of Black Diamond by 2.0% in the first quarter. Gagnon Securities LLC now owns 70,865 shares of the company’s stock valued at $320,000 after buying an additional 1,415 shares in the last quarter. AXA acquired a new stake in shares of Black Diamond during the first quarter valued at $361,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Black Diamond by 95.5% in the first quarter. Renaissance Technologies LLC now owns 81,700 shares of the company’s stock valued at $369,000 after buying an additional 39,900 shares in the last quarter. Hedge funds and other institutional investors own 44.01% of the company’s stock.
Black Diamond Inc. (NASDAQ:BDE) remained flat at $4.86 on Monday. The company’s stock had a trading volume of 8,036 shares. The stock’s market capitalization is $146.11 million. Black Diamond Inc. has a 12 month low of $3.80 and a 12 month high of $7.24. The firm has a 50 day moving average price of $4.55 and a 200-day moving average price of $4.43.
Black Diamond (NASDAQ:BDE) last released its quarterly earnings data on Monday, August 1st. The company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.04. Black Diamond had a negative return on equity of 1.36% and a negative net margin of 50.46%. The company earned $29.10 million during the quarter, compared to analysts’ expectations of $28.32 million. During the same quarter in the prior year, the company posted $0.01 EPS. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, analysts anticipate that Black Diamond Inc. will post ($0.10) EPS for the current year.
Several equities research analysts recently weighed in on BDE shares. Zacks Investment Research cut shares of Black Diamond from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 4th. DA Davidson upgraded shares of Black Diamond from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $4.50 to $6.00 in a research report on Monday, August 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $5.50.
About Black Diamond
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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