California State Teachers Retirement System Reduces Position in Belmond Ltd. (BEL)
California State Teachers Retirement System reduced its holdings in Belmond Ltd. (NYSE:BEL) by 3.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,534 shares of the company’s stock after selling 6,273 shares during the quarter. California State Teachers Retirement System owned 0.15% of Belmond worth $2,109,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Riverhead Capital Management LLC raised its holdings in shares of Belmond by 99.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 10,186 shares of the company’s stock worth $135,000 after purchasing an additional 5,086 shares in the last quarter. Flinton Capital Management LLC increased its position in shares of Belmond by 99.5% in the second quarter. Flinton Capital Management LLC now owns 11,284 shares of the company’s stock worth $150,000 after acquiring an additional 5,628 shares in the last quarter. Amalgamated Bank increased its position in shares of Belmond by 7.5% in the second quarter. Amalgamated Bank now owns 12,195 shares of the company’s stock worth $162,000 after acquiring an additional 856 shares in the last quarter. KCG Holdings Inc. purchased a new position in shares of Belmond in the first quarter worth approximately $198,000. Finally, State of Alaska Department of Revenue increased its position in shares of Belmond by 79.3% in the second quarter. State of Alaska Department of Revenue now owns 16,733 shares of the company’s stock worth $222,000 after acquiring an additional 7,403 shares in the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.
Belmond Ltd. (NYSE:BEL) opened at $12.05 on Wednesday. The firm has a market cap of $1,228.07, a P/E ratio of 63.16 and a beta of 1.18. The company has a quick ratio of 1.77, a current ratio of 1.92 and a debt-to-equity ratio of 0.96. Belmond Ltd. has a 1 year low of $11.00 and a 1 year high of $14.45.
Several research firms have recently weighed in on BEL. Deutsche Bank AG dropped their target price on shares of Belmond from $13.00 to $12.00 and set a “hold” rating on the stock in a research report on Wednesday, November 8th. BidaskClub downgraded shares of Belmond from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, Barclays PLC reissued an “overweight” rating and issued a $15.00 target price (down from $16.00) on shares of Belmond in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Belmond presently has an average rating of “Hold” and a consensus target price of $14.00.
Belmond Ltd. (Belmond) is a hotel company and adventure travel operator. As of December 31, 2016, Belmond owned, partially-owned and/or operated 45 properties, consisting of 34 individual deluxe hotels, 29 of which are owned (including nine under long-term lease), five European tourist trains, two cruise ships in Myanmar (one of which is under long-term charter), one French canal cruise business consisting of five small canal boats, and one stand-alone restaurant in the United States.
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