Vivaldi Asset Management LLC Takes $12.91 Million Position in Advisory Board (ABCO)
Vivaldi Asset Management LLC acquired a new stake in shares of Advisory Board (NASDAQ:ABCO) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 240,653 shares of the business services provider’s stock, valued at approximately $12,905,000. Advisory Board comprises about 2.0% of Vivaldi Asset Management LLC’s investment portfolio, making the stock its 14th largest position. Vivaldi Asset Management LLC owned 0.59% of Advisory Board at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of ABCO. Victory Capital Management Inc. raised its position in Advisory Board by 17.5% in the 2nd quarter. Victory Capital Management Inc. now owns 2,749 shares of the business services provider’s stock worth $142,000 after purchasing an additional 410 shares during the last quarter. First Capital Advisors Group LLC. bought a new stake in shares of Advisory Board during the 2nd quarter valued at $221,000. Cubist Systematic Strategies LLC bought a new stake in shares of Advisory Board in the 2nd quarter valued at $221,000. Prudential Financial Inc. bought a new stake in Advisory Board during the 2nd quarter valued at about $225,000. Finally, Amalgamated Bank lifted its position in shares of Advisory Board by 3.5% during the 2nd quarter. Amalgamated Bank now owns 5,198 shares of the business services provider’s stock valued at $268,000 after buying an additional 178 shares in the last quarter. Institutional investors own 95.50% of the company’s stock.
A number of analysts have recently issued reports on ABCO shares. William Blair downgraded shares of Advisory Board from an “outperform” rating to a “hold” rating in a report on Tuesday, August 29th. Robert W. Baird reissued a “hold” rating and set a $54.00 target price on shares of Advisory Board in a research note on Friday, November 10th. KeyCorp reissued a “hold” rating on shares of Advisory Board in a research note on Friday, September 1st. Piper Jaffray Companies set a $51.00 target price on shares of Advisory Board and gave the company a “hold” rating in a research note on Thursday, August 10th. Finally, Canaccord Genuity lowered shares of Advisory Board from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $56.00 to $54.29 in a research note on Tuesday, August 29th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $51.95.
Advisory Board (NASDAQ:ABCO) opened at $53.83 on Friday. The company has a market capitalization of $2,190.00, a PE ratio of 32.23, a P/E/G ratio of 2.40 and a beta of 1.34. Advisory Board has a 1-year low of $30.40 and a 1-year high of $59.50. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.98.
About Advisory Board
The Advisory Board Company is a provider of software and solutions to the healthcare and higher education industries. The Company offers subscription-based membership programs, software and data-enabled services. All of its programs are rooted in best practices and extends across four areas, including Best practices research, Technology, Data-enabled services and Consulting services.
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