102,392 Shares in Dell Technologies Inc. (DVMT) Purchased by Beach Point Capital Management LP
Beach Point Capital Management LP purchased a new stake in Dell Technologies Inc. (NYSE:DVMT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 102,392 shares of the company’s stock, valued at approximately $7,906,000. Dell Technologies comprises 1.8% of Beach Point Capital Management LP’s portfolio, making the stock its 17th biggest position.
Other hedge funds also recently made changes to their positions in the company. Fox Run Management L.L.C. bought a new stake in Dell Technologies during the 3rd quarter worth approximately $456,000. Longfellow Investment Management Co. LLC boosted its position in Dell Technologies by 316.4% during the 3rd quarter. Longfellow Investment Management Co. LLC now owns 104,100 shares of the company’s stock worth $8,038,000 after acquiring an additional 79,100 shares during the last quarter. Huntington National Bank acquired a new position in Dell Technologies during the 3rd quarter worth approximately $1,038,000. Levy Harkins & Co. Inc. boosted its position in Dell Technologies by 1.9% during the 3rd quarter. Levy Harkins & Co. Inc. now owns 196,714 shares of the company’s stock worth $15,188,000 after acquiring an additional 3,695 shares during the last quarter. Finally, Aperio Group LLC boosted its position in Dell Technologies by 3.6% during the 3rd quarter. Aperio Group LLC now owns 168,289 shares of the company’s stock worth $12,994,000 after acquiring an additional 5,831 shares during the last quarter. 22.96% of the stock is owned by institutional investors.
Dell Technologies Inc. (NYSE:DVMT) traded up $0.28 during trading hours on Monday, reaching $81.15. The company’s stock had a trading volume of 2,600 shares, compared to its average volume of 1,159,258. Dell Technologies Inc. has a 52-week low of $48.37 and a 52-week high of $83.98. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 2.44. The firm has a market cap of $62,494.16, a P/E ratio of 12.82 and a beta of 0.60.
Dell Technologies (NYSE:DVMT) last released its quarterly earnings results on Thursday, September 7th. The company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.79. The firm had revenue of $19.30 billion during the quarter. Dell Technologies had a positive return on equity of 19.45% and a negative net margin of 6.24%.
Separately, BidaskClub downgraded Dell Technologies from a “strong-buy” rating to a “buy” rating in a research report on Thursday.
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In other Dell Technologies news, major shareholder Dell Technologies Inc sold 435,682 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $109.31, for a total transaction of $47,624,399.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider David I. Goulden sold 4,700 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $67.00, for a total value of $314,900.00. Following the sale, the insider now directly owns 42,055 shares of the company’s stock, valued at approximately $2,817,685. The disclosure for this sale can be found here. In the last three months, insiders sold 522,509 shares of company stock valued at $51,064,396. 45.00% of the stock is currently owned by insiders.
About Dell Technologies
Dell Technologies Inc, formerly Denali Holding Inc, is a provider of information technology solutions. The Company operates through two segments: Client Solutions and Enterprise Solutions Group (ESG). The Client Solutions segment includes sales to commercial and consumer customers of desktops, thin client products and notebooks, as well as services and third-party software and peripherals closely tied to the sale of Client Solutions hardware.
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