McDermott International Inc. (MDR) Shares Bought by Acadian Asset Management LLC
Acadian Asset Management LLC increased its position in McDermott International Inc. (NYSE:MDR) by 297.5% during the second quarter, Holdings Channel reports. The institutional investor owned 165,636 shares of the company’s stock after buying an additional 123,967 shares during the period. Acadian Asset Management LLC owned about 0.07% of McDermott International worth $819,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its position in shares of McDermott International by 2,863.2% in the second quarter. BNP Paribas Arbitrage SA now owns 20,683 shares of the company’s stock worth $102,000 after buying an additional 19,985 shares in the last quarter. Atria Investments LLC bought a new position in shares of McDermott International during the second quarter worth $108,000. Ladenburg Thalmann Financial Services Inc. increased its position in shares of McDermott International by 1,121.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 25,159 shares of the company’s stock worth $102,000 after buying an additional 23,100 shares in the last quarter. BlackRock Inc. increased its position in shares of McDermott International by 7.5% in the first quarter. BlackRock Inc. now owns 31,880 shares of the company’s stock worth $130,000 after buying an additional 2,211 shares in the last quarter. Finally, Mariner Wealth Advisors LLC bought a new position in shares of McDermott International during the first quarter worth $137,000. 79.15% of the stock is owned by institutional investors.
Shares of McDermott International Inc. (NYSE:MDR) traded down 1.64% on Friday, reaching $4.80. 2,549,304 shares of the company were exchanged. The company’s 50-day moving average price is $5.10 and its 200 day moving average price is $4.61. McDermott International Inc. has a 12 month low of $2.20 and a 12 month high of $6.00. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 400.00 and a beta of 1.39.
McDermott International (NYSE:MDR) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.06. The firm had revenue of $706.60 million for the quarter, compared to the consensus estimate of $753.43 million. McDermott International had a net margin of 0.12% and a return on equity of 6.51%. The business’s revenue for the quarter was down 32.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.04 earnings per share. On average, equities research analysts expect that McDermott International Inc. will post $0.13 EPS for the current year.
A number of equities analysts have weighed in on the stock. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $4.41 target price on shares of McDermott International in a research note on Saturday, June 4th. Imperial Capital reaffirmed an “outperform” rating and issued a $6.00 target price on shares of McDermott International in a research note on Wednesday, June 8th. Sterne Agee CRT assumed coverage on shares of McDermott International in a research note on Tuesday, May 24th. They issued a “neutral” rating for the company. Zacks Investment Research downgraded shares of McDermott International from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Finally, Citigroup Inc. boosted their target price on shares of McDermott International from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $5.04.
About McDermott International
McDermott International, Inc is a provider of integrated engineering, procurement, construction and installation (EPCI) and module fabrication services for upstream field developments. The Company delivers fixed and floating production facilities, pipeline installations and subsea systems from concept to commissioning for complex offshore and subsea oil and gas projects.
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