Bryce Point Capital LLC Takes Position in Brink’s Company (The) $BCO

Bryce Point Capital LLC bought a new position in shares of Brink’s Company (The) (NYSE:BCO) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,060 shares of the business services provider’s stock, valued at approximately $474,000.

Several other institutional investors and hedge funds have also made changes to their positions in BCO. Profund Advisors LLC purchased a new stake in Brink’s during the 3rd quarter worth $202,000. Hantz Financial Services Inc. grew its stake in shares of Brink’s by 120.3% during the third quarter. Hantz Financial Services Inc. now owns 401 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 219 shares in the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in shares of Brink’s during the third quarter valued at about $2,332,000. State of Wyoming increased its position in shares of Brink’s by 191.7% during the third quarter. State of Wyoming now owns 8,139 shares of the business services provider’s stock worth $951,000 after acquiring an additional 5,349 shares during the last quarter. Finally, Ballast Asset Management LP lifted its stake in shares of Brink’s by 1.5% in the third quarter. Ballast Asset Management LP now owns 51,249 shares of the business services provider’s stock worth $5,989,000 after acquiring an additional 743 shares in the last quarter. 94.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Weiss Ratings upgraded Brink’s from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 24th. Truist Financial upped their target price on Brink’s from $138.00 to $163.00 and gave the company a “buy” rating in a research report on Tuesday. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $163.00.

Insider Activity

In related news, insider Michael E. Sweeney sold 1,418 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $119.50, for a total transaction of $169,451.00. Following the sale, the insider directly owned 5,755 shares of the company’s stock, valued at approximately $687,722.50. This represents a 19.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Brink’s Stock Up 0.7%

NYSE:BCO opened at $131.27 on Wednesday. The company has a debt-to-equity ratio of 9.14, a quick ratio of 1.46 and a current ratio of 1.46. The company has a market capitalization of $5.45 billion, a price-to-earnings ratio of 33.57 and a beta of 1.09. Brink’s Company has a one year low of $80.10 and a one year high of $132.93. The stock has a 50-day simple moving average of $122.10 and a 200 day simple moving average of $114.75.

Brink’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Monday, February 2nd will be issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, February 2nd. Brink’s’s payout ratio is 26.09%.

Brink’s announced that its Board of Directors has authorized a share buyback program on Thursday, December 11th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the business services provider to repurchase up to 15.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

About Brink’s

The Brink’s Company (NYSE: BCO) is a global leader in secure logistics and cash management solutions. The company provides a comprehensive suite of services that span armored transportation, cash-in-transit (CIT), ATM services, smart safe solutions, and valuables storage. Through its network of service centers and armored vehicles, Brink’s ensures the safe and efficient movement of currency, precious metals, and other high-value assets for banks, retailers, mints, and government agencies.

Brink’s armored transport operations are complemented by technology-driven cash management offerings, including deposit automation and secure vaulting.