Highbridge Capital Management LLC Takes Position in CNH Industrial NV (CNHI)
Highbridge Capital Management LLC acquired a new position in CNH Industrial NV (NASDAQ:CNHI) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 29,940 shares of the company’s stock, valued at approximately $289,000.
Several other large investors also recently made changes to their positions in CNHI. Two Sigma Investments LP acquired a new position in CNH Industrial NV during the fourth quarter worth $104,000. Ameriprise Financial Inc. raised its position in CNH Industrial NV by 1.6% in the first quarter. Ameriprise Financial Inc. now owns 12,760 shares of the company’s stock worth $123,000 after buying an additional 199 shares during the last quarter. A.R.T. Advisors LLC acquired a new position in CNH Industrial NV during the fourth quarter worth $121,000. KCG Holdings Inc. acquired a new position in CNH Industrial NV during the first quarter worth $162,000. Finally, First Trust Advisors LP raised its position in CNH Industrial NV by 8.4% in the first quarter. First Trust Advisors LP now owns 17,175 shares of the company’s stock worth $166,000 after buying an additional 1,329 shares during the last quarter.
Shares of CNH Industrial NV (NASDAQ:CNHI) traded up 0.09% during mid-day trading on Friday, hitting $11.61. The company had a trading volume of 590,550 shares. CNH Industrial NV has a one year low of $6.85 and a one year high of $12.13. The company has a market capitalization of $15.84 billion and a PE ratio of 37.33. The company’s 50-day moving average is $11.61 and its 200 day moving average is $10.43.
CNH Industrial NV (NASDAQ:CNHI) last posted its earnings results on Wednesday, July 26th. The company reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.03. CNH Industrial NV had a return on equity of 4.11% and a net margin of 0.55%. The business had revenue of $6.95 billion during the quarter, compared to analysts’ expectations of $7.07 billion. During the same period in the previous year, the business earned $0.10 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. On average, equities research analysts forecast that CNH Industrial NV will post $0.45 EPS for the current fiscal year.
CNH Industrial NV announced that its Board of Directors has initiated a stock buyback program on Monday, June 5th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
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A number of research firms recently weighed in on CNHI. J P Morgan Chase & Co raised CNH Industrial NV from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $8.00 to $10.00 in a report on Monday, May 1st. TheStreet raised CNH Industrial NV from a “d+” rating to a “c” rating in a report on Wednesday, July 26th. Zacks Investment Research lowered CNH Industrial NV from a “buy” rating to a “hold” rating in a report on Friday, July 7th. BidaskClub downgraded CNH Industrial NV from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Stifel Nicolaus began coverage on CNH Industrial NV in a research report on Tuesday, April 11th. They set a “hold” rating and a $10.50 target price for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $11.26.
About CNH Industrial NV
CNH Industrial N.V. is a capital goods company. The Company is engaged in the design, production, marketing, sale and financing of agricultural and construction equipment, trucks, commercial vehicles, buses and specialty vehicles for firefighting, defense and other uses, as well as engines, transmissions and axles for vehicles and engines under marine and power generation applications.
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