Abengoa Yield PLC (ABY) Sees Large Drop in Short Interest
Abengoa Yield PLC (NASDAQ:ABY) was the target of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 4,077,581 shares, a decrease of 18.9% from the August 31st total of 5,029,996 shares. Based on an average trading volume of 438,104 shares, the short-interest ratio is currently 9.3 days. Approximately 7.5% of the company’s shares are short sold.
Institutional investors have recently modified their holdings of the company. HITE Hedge Asset Management LLC boosted its position in shares of Abengoa Yield PLC by 98.8% in the second quarter. HITE Hedge Asset Management LLC now owns 651,517 shares of the company’s stock worth $12,105,000 after buying an additional 323,731 shares in the last quarter. Kleinwort Benson Investors Dublin Ltd bought a new position in shares of Abengoa Yield PLC during the second quarter worth $4,554,000. Global X Management Co. LLC boosted its position in shares of Abengoa Yield PLC by 149.5% in the second quarter. Global X Management Co. LLC now owns 27,626 shares of the company’s stock worth $513,000 after buying an additional 16,554 shares in the last quarter. Acrospire Investment Management LLC bought a new position in shares of Abengoa Yield PLC during the second quarter worth $110,000. Finally, Boussard & Gavaudan Investment Management LLP boosted its position in shares of Abengoa Yield PLC by 116.9% in the second quarter. Boussard & Gavaudan Investment Management LLP now owns 1,326,118 shares of the company’s stock worth $24,454,000 after buying an additional 714,656 shares in the last quarter. 55.83% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently weighed in on ABY. Zacks Investment Research lowered shares of Abengoa Yield PLC from a “hold” rating to a “strong sell” rating in a report on Thursday, August 25th. Avondale Partners reiterated a “conviction-buy” rating on shares of Abengoa Yield PLC in a report on Tuesday, August 23rd. Two analysts have rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $21.00.
Shares of Abengoa Yield PLC (NASDAQ:ABY) opened at 19.01 on Friday. The firm’s market cap is $1.91 billion. Abengoa Yield PLC has a 52-week low of $13.11 and a 52-week high of $21.83. The company’s 50-day moving average is $19.01 and its 200-day moving average is $18.45.
Abengoa Yield PLC (NASDAQ:ABY) last issued its quarterly earnings results on Friday, August 5th. The company reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.31 by $0.28. Abengoa Yield PLC had a negative return on equity of 1.03% and a negative net margin of 24.39%. Equities research analysts forecast that Abengoa Yield PLC will post $0.23 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were paid a $0.29 dividend. The ex-dividend date was Monday, August 29th. This represents a $1.16 dividend on an annualized basis and a yield of 6.10%. Abengoa Yield PLC’s dividend payout ratio is currently -50.22%.
About Abengoa Yield PLC
Atlantica Yield Plc owns, manages and acquires a diversified portfolio of contracted assets in the power and environment sectors. The Company owns approximately 20 assets, comprising 1,441 mega watts of renewable energy generation, 300 mega watts of conventional power generation, 1,099 miles of electric transmission lines and 10.5 Mft3 per day of water assets.
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