ClariVest Asset Management LLC Acquires 15,200 Shares of Tata Motors Ltd. (TTM)
ClariVest Asset Management LLC raised its stake in shares of Tata Motors Ltd. (NYSE:TTM) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 461,953 shares of the company’s stock after buying an additional 15,200 shares during the period. ClariVest Asset Management LLC owned 0.07% of Tata Motors worth $16,016,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Orbis Allan Gray Ltd acquired a new position in Tata Motors during the first quarter valued at approximately $207,000. Creative Planning raised its position in Tata Motors by 35.6% in the second quarter. Creative Planning now owns 6,120 shares of the company’s stock valued at $212,000 after buying an additional 1,608 shares during the last quarter. Royal Bank of Scotland Group PLC acquired a new position in Tata Motors during the first quarter valued at approximately $304,000. James Investment Research Inc. raised its position in Tata Motors by 253.1% in the second quarter. James Investment Research Inc. now owns 11,300 shares of the company’s stock valued at $392,000 after buying an additional 8,100 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in Tata Motors during the second quarter valued at approximately $413,000. 12.18% of the stock is owned by institutional investors and hedge funds.
Tata Motors Ltd. (NYSE:TTM) traded down 1.40% during mid-day trading on Thursday, reaching $41.50. 591,138 shares of the company’s stock were exchanged. Tata Motors Ltd. has a 52 week low of $20.00 and a 52 week high of $44.79. The company’s 50 day moving average price is $40.66 and its 200-day moving average price is $34.80. The company has a market capitalization of $28.18 billion, a P/E ratio of 23.31 and a beta of 2.90.
A number of research analysts recently issued reports on TTM shares. Zacks Investment Research upgraded shares of Tata Motors from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Sanford C. Bernstein downgraded shares of Tata Motors from an “outperform” rating to a “market perform” rating in a research note on Friday, September 9th. Finally, Credit Suisse Group AG downgraded shares of Tata Motors from an “outperform” rating to a “neutral” rating in a research note on Monday, June 27th. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $37.99.
About Tata Motors
Tata Motors Limited is an automobile company. The Company is engaged in the business of automobile products consisting of all types of commercial and passenger vehicles, including financing of the vehicles sold by the Company. Its operating segments include automotive operations and all other operations.
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