Penn Capital Management Co. Inc. Lowers Position in Cambrex Corporation (CBM)
Penn Capital Management Co. Inc. lowered its stake in shares of Cambrex Corporation (NYSE:CBM) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 229,808 shares of the biotechnology company’s stock after selling 2,495 shares during the quarter. Penn Capital Management Co. Inc. owned about 0.71% of Cambrex Corporation worth $13,731,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CBM. Pinebridge Investments L.P. boosted its holdings in Cambrex Corporation by 244.3% in the 2nd quarter. Pinebridge Investments L.P. now owns 14,528 shares of the biotechnology company’s stock valued at $867,000 after purchasing an additional 10,308 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in Cambrex Corporation by 2.6% in the 2nd quarter. New York State Common Retirement Fund now owns 169,774 shares of the biotechnology company’s stock valued at $10,144,000 after purchasing an additional 4,265 shares in the last quarter. Neumeier Poma Investment Counsel LLC boosted its holdings in Cambrex Corporation by 18.8% in the 2nd quarter. Neumeier Poma Investment Counsel LLC now owns 363,775 shares of the biotechnology company’s stock valued at $21,736,000 after purchasing an additional 57,625 shares in the last quarter. Thrivent Financial For Lutherans boosted its holdings in Cambrex Corporation by 7.5% in the 2nd quarter. Thrivent Financial For Lutherans now owns 19,640 shares of the biotechnology company’s stock valued at $1,173,000 after purchasing an additional 1,370 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Cambrex Corporation by 0.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 22,178 shares of the biotechnology company’s stock valued at $1,325,000 after purchasing an additional 119 shares in the last quarter. 98.28% of the stock is currently owned by hedge funds and other institutional investors.
CBM has been the topic of a number of analyst reports. ValuEngine lowered Cambrex Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub upgraded shares of Cambrex Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Finally, Zacks Investment Research downgraded shares of Cambrex Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Cambrex Corporation presently has a consensus rating of “Hold” and an average target price of $64.00.
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Cambrex Corporation (NYSE CBM) traded down 0.47% during midday trading on Wednesday, hitting $53.45. 41,790 shares of the stock were exchanged. The firm’s 50-day moving average is $53.13 and its 200 day moving average is $55.08. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 19.47 and a beta of 2.25. Cambrex Corporation has a 52 week low of $38.30 and a 52 week high of $62.95.
Cambrex Corporation (NYSE:CBM) last released its earnings results on Friday, August 4th. The biotechnology company reported $0.76 EPS for the quarter, meeting the consensus estimate of $0.76. Cambrex Corporation had a net margin of 17.70% and a return on equity of 24.25%. The business had revenue of $134.55 million during the quarter, compared to analyst estimates of $136.82 million. During the same period in the prior year, the business earned $0.68 earnings per share. The business’s quarterly revenue was up 13.4% on a year-over-year basis. Equities research analysts expect that Cambrex Corporation will post $3.08 EPS for the current fiscal year.
In related news, CEO Steven M. Klosk sold 12,000 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $51.53, for a total transaction of $618,360.00. Following the completion of the sale, the chief executive officer now directly owns 95,328 shares of the company’s stock, valued at $4,912,251.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 36,000 shares of company stock valued at $2,070,960. Company insiders own 2.48% of the company’s stock.
Cambrex Corporation Profile
Cambrex Corporation (Cambrex) is a life sciences company. It provides products and services for the development and commercialization of generic therapeutics. It operates through four segments, which are manufacturing facilities that have been aggregated as a single segment. Its manufacturing facilities are owned by the subsidiaries, including Cambrex Charles City, Inc, Cambrex Karlskoga AB and Cambrex Profarmaco Milano S.r.l.
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