New York State Common Retirement Fund Sells 40,116 Shares of Belmond Ltd (BEL)
New York State Common Retirement Fund reduced its holdings in shares of Belmond Ltd (NYSE:BEL) by 12.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 287,560 shares of the company’s stock after selling 40,116 shares during the period. New York State Common Retirement Fund owned 0.28% of Belmond worth $3,925,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the business. BNP Paribas Arbitrage SA raised its holdings in Belmond by 60.5% in the third quarter. BNP Paribas Arbitrage SA now owns 46,797 shares of the company’s stock worth $639,000 after buying an additional 17,647 shares during the last quarter. Forward Management LLC grew its stake in shares of Belmond by 7.1% in the third quarter. Forward Management LLC now owns 218,300 shares of the company’s stock worth $2,980,000 after acquiring an additional 14,500 shares during the period. Gluskin Sheff & Assoc Inc. grew its stake in shares of Belmond by 39.4% in the third quarter. Gluskin Sheff & Assoc Inc. now owns 248,790 shares of the company’s stock worth $3,396,000 after acquiring an additional 70,310 shares during the period. Gamco Investors INC. ET AL grew its stake in shares of Belmond by 1.2% in the third quarter. Gamco Investors INC. ET AL now owns 656,400 shares of the company’s stock worth $8,960,000 after acquiring an additional 7,800 shares during the period. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Belmond in the third quarter worth approximately $308,000. 81.07% of the stock is owned by institutional investors and hedge funds.
Shares of Belmond Ltd (NYSE:BEL) opened at $12.25 on Thursday. Belmond Ltd has a 12 month low of $11.00 and a 12 month high of $14.45. The company has a market cap of $1,480.00, a P/E ratio of -122.50 and a beta of 1.16. The company has a quick ratio of 1.77, a current ratio of 1.92 and a debt-to-equity ratio of 0.96.
Separately, Deutsche Bank reduced their price target on shares of Belmond from $13.00 to $12.00 and set a “hold” rating for the company in a research note on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $14.33.
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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