Luxottica Group, S.p.A. (LUX) Shares Sold by Neuberger Berman Group LLC
Neuberger Berman Group LLC cut its position in Luxottica Group, S.p.A. (NYSE:LUX) by 75.5% during the first quarter, Holdings Channel reports. The fund owned 65,583 shares of the company’s stock after selling 201,661 shares during the period. Neuberger Berman Group LLC’s holdings in Luxottica Group, S.p.A. were worth $3,610,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the company. Baird Financial Group Inc. raised its stake in shares of Luxottica Group, S.p.A. by 3.3% in the fourth quarter. Baird Financial Group Inc. now owns 43,285 shares of the company’s stock worth $2,324,000 after buying an additional 1,400 shares during the last quarter. Comerica Bank raised its stake in shares of Luxottica Group, S.p.A. by 18.1% in the fourth quarter. Comerica Bank now owns 30,685 shares of the company’s stock worth $1,609,000 after buying an additional 4,711 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Luxottica Group, S.p.A. during the fourth quarter worth approximately $3,808,000. Eqis Capital Management Inc. raised its stake in shares of Luxottica Group, S.p.A. by 58.5% in the first quarter. Eqis Capital Management Inc. now owns 7,518 shares of the company’s stock worth $414,000 after buying an additional 2,776 shares during the last quarter. Finally, Greenleaf Trust acquired a new stake in shares of Luxottica Group, S.p.A. during the first quarter worth approximately $280,000. 1.69% of the stock is owned by institutional investors.
Luxottica Group, S.p.A. (NYSE LUX) opened at 60.90 on Friday. The stock has a market cap of $29.05 billion, a price-to-earnings ratio of 30.91 and a beta of 0.44. Luxottica Group, S.p.A. has a 52-week low of $44.85 and a 52-week high of $62.57. The stock has a 50 day moving average price of $59.78 and a 200 day moving average price of $55.24.
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LUX has been the subject of a number of research analyst reports. Zacks Investment Research lowered Luxottica Group, S.p.A. from a “hold” rating to a “sell” rating in a research note on Saturday, March 4th. Morgan Stanley raised Luxottica Group, S.p.A. from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Luxottica Group, S.p.A. has a consensus rating of “Hold” and an average target price of $49.00.
About Luxottica Group, S.p.A.
Luxottica Group S.p.A. is a holding company. The Company is engaged in the design, manufacture and distribution of fashion, luxury, sport and performance eyewear. The Company operates through two segments: manufacturing and wholesale distribution, and retail distribution. Through its manufacturing and wholesale distribution operations, the Company is engaged in design, manufacturing, wholesale distribution and marketing of brands and designer lines of prescription frames and sunglasses, as well as of performance optics products.
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