Quantitative Investment Management LLC Lowers Stake in Dynegy Inc. (DYN)
Quantitative Investment Management LLC lessened its holdings in Dynegy Inc. (NYSE:DYN) by 83.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 43,000 shares of the utilities provider’s stock after selling 217,600 shares during the period. Quantitative Investment Management LLC’s holdings in Dynegy were worth $355,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Dynegy during the second quarter valued at approximately $9,398,000. Bank of Nova Scotia bought a new position in Dynegy in the first quarter worth approximately $7,781,000. Neuberger Berman Group LLC raised its stake in Dynegy by 62.7% in the second quarter. Neuberger Berman Group LLC now owns 2,034,191 shares of the utilities provider’s stock worth $16,823,000 after buying an additional 784,221 shares in the last quarter. Raging Capital Management LLC purchased a new stake in Dynegy during the first quarter worth $5,098,000. Finally, New York State Common Retirement Fund lifted its holdings in Dynegy by 67.2% during the second quarter. New York State Common Retirement Fund now owns 1,166,086 shares of the utilities provider’s stock worth $9,644,000 after buying an additional 468,643 shares during the period.
A number of research analysts have recently issued reports on the company. Guggenheim reiterated a “buy” rating and issued a $18.00 price target (up from $14.00) on shares of Dynegy in a report on Monday, August 21st. BidaskClub upgraded Dynegy from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Royal Bank Of Canada restated a “hold” rating and set a $8.00 price objective on shares of Dynegy in a research note on Monday, September 4th. Barclays PLC reaffirmed a “buy” rating and set a $13.00 price objective on shares of Dynegy in a research report on Tuesday, July 25th. Finally, Deutsche Bank AG dropped their price objective on Dynegy from $11.00 to $10.00 and set a “hold” rating on the stock in a research report on Monday, August 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $10.68.
Dynegy Inc. (NYSE DYN) opened at 9.49 on Tuesday. Dynegy Inc. has a 12 month low of $5.84 and a 12 month high of $13.81. The stock’s 50 day moving average price is $9.39 and its 200-day moving average price is $8.19. The firm’s market capitalization is $1.25 billion.
Dynegy (NYSE:DYN) last issued its earnings results on Thursday, August 3rd. The utilities provider reported ($0.83) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.61). Dynegy had a negative net margin of 2.72% and a negative return on equity of 12.97%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $972.27 million. Equities analysts forecast that Dynegy Inc. will post ($0.69) earnings per share for the current year.
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Dynegy Inc (Dynegy) is a holding company and conducts the business operations through its subsidiaries. The primary business of Dynegy is the production and sale of electric energy, capacity and ancillary services from the fleet of 18 operating power plants in six states totaling approximately 12,300 megawatt (MW) of generating capacity.
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