Brocade Communications Systems, Inc. (BRCD) Stake Decreased by GSA Capital Partners LLP
GSA Capital Partners LLP cut its stake in shares of Brocade Communications Systems, Inc. (NASDAQ:BRCD) by 68.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,451 shares of the technology company’s stock after selling 36,481 shares during the quarter. GSA Capital Partners LLP’s holdings in Brocade Communications Systems were worth $197,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of BRCD. Ameriprise Financial Inc. grew its stake in shares of Brocade Communications Systems by 385.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 6,957,563 shares of the technology company’s stock worth $83,144,000 after purchasing an additional 5,524,802 shares during the period. Tyrus Capital S.A.M. acquired a new position in shares of Brocade Communications Systems during the 2nd quarter worth $35,308,000. City Financial Investment Co Ltd acquired a new position in shares of Brocade Communications Systems during the 2nd quarter worth $20,347,000. Magnetar Financial LLC grew its stake in Brocade Communications Systems by 16.5% in the 3rd quarter. Magnetar Financial LLC now owns 11,030,810 shares of the technology company’s stock valued at $131,818,000 after acquiring an additional 1,563,088 shares during the last quarter. Finally, Pentwater Capital Management LP grew its stake in Brocade Communications Systems by 26.9% in the 2nd quarter. Pentwater Capital Management LP now owns 6,040,000 shares of the technology company’s stock valued at $76,164,000 after acquiring an additional 1,280,000 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently commented on BRCD. Robert W. Baird reissued a “hold” rating and issued a $13.00 price objective on shares of Brocade Communications Systems in a research note on Friday, September 29th. Royal Bank of Canada reissued a “hold” rating and issued a $12.75 price objective on shares of Brocade Communications Systems in a research note on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The company has an average rating of “Hold” and a consensus price target of $12.83.
Shares of Brocade Communications Systems, Inc. (BRCD) opened at $12.73 on Friday. The company has a market cap of $5,270.00, a PE ratio of 181.86, a P/E/G ratio of 2.93 and a beta of 0.54. Brocade Communications Systems, Inc. has a 12 month low of $11.43 and a 12 month high of $12.74. The company has a quick ratio of 2.66, a current ratio of 2.78 and a debt-to-equity ratio of 0.58.
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Brocade Communications Systems Profile
Brocade Communications Systems, Inc (Brocade) is a supplier of networking hardware, software and services, including storage area networking (SAN) solutions and Internet protocol (IP) networking solutions for businesses and organizations of various types and sizes. The Company operates through three segments: SAN Products, IP Networking Products and Global Services.
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