Akorn, Inc. (AKRX) Stake Lowered by Dana Investment Advisors Inc.
Dana Investment Advisors Inc. lessened its position in Akorn, Inc. (NASDAQ:AKRX) by 28.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 100,359 shares of the company’s stock after selling 40,289 shares during the period. Dana Investment Advisors Inc. owned about 0.08% of Akorn worth $3,366,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. OMERS ADMINISTRATION Corp bought a new position in shares of Akorn in the second quarter valued at about $31,585,000. Great West Life Assurance Co. Can raised its holdings in shares of Akorn by 0.7% in the second quarter. Great West Life Assurance Co. Can now owns 51,847 shares of the company’s stock valued at $1,738,000 after buying an additional 340 shares during the last quarter. World Asset Management Inc bought a new position in shares of Akorn in the second quarter valued at about $210,000. Airain ltd raised its holdings in shares of Akorn by 133.1% in the second quarter. Airain ltd now owns 77,070 shares of the company’s stock valued at $2,585,000 after buying an additional 44,011 shares during the last quarter. Finally, Alpine Associates Management Inc. bought a new position in shares of Akorn in the second quarter valued at about $8,047,000. Institutional investors own 69.98% of the company’s stock.
Shares of Akorn, Inc. (AKRX) traded down 0.18% during mid-day trading on Friday, reaching $32.73. The company’s stock had a trading volume of 341,895 shares. The firm has a market cap of $4.09 billion, a PE ratio of 33.06 and a beta of 1.40. The company has a 50-day moving average of $32.89 and a 200-day moving average of $32.21. Akorn, Inc. has a 12 month low of $17.61 and a 12 month high of $34.00.
A number of research analysts recently issued reports on the company. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $34.00 price target on shares of Akorn in a report on Thursday, August 10th. Royal Bank Of Canada set a $34.00 price target on Akorn and gave the company a “hold” rating in a report on Sunday, July 30th. Zacks Investment Research cut Akorn from a “hold” rating to a “strong sell” rating in a report on Friday, August 25th. BidaskClub raised Akorn from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $34.00 price target on shares of Akorn in a report on Wednesday, July 19th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. Akorn has an average rating of “Hold” and an average price target of $28.56.
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In other news, Director Brian Tambi sold 5,165 shares of Akorn stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $33.37, for a total transaction of $172,356.05. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Bruce Kutinsky sold 40,000 shares of Akorn stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $33.46, for a total value of $1,338,400.00. Following the sale, the chief operating officer now directly owns 317,480 shares in the company, valued at $10,622,880.80. The disclosure for this sale can be found here. Company insiders own 28.20% of the company’s stock.
Akorn Inc (Akorn), together with its subsidiaries, is a specialty generic pharmaceutical company that develops, manufactures and markets generic and branded prescription pharmaceuticals, as well as private-label over-the-counter (OTC) consumer health products and animal health pharmaceuticals. The Company operates through two segments: Prescription Pharmaceuticals and the Consumer Health.
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