Pentwater Capital Management LP Invests $321.46 Million in Reynolds American Inc (RAI)
Pentwater Capital Management LP acquired a new stake in shares of Reynolds American Inc (NYSE:RAI) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,100,842 shares of the company’s stock, valued at approximately $321,455,000. Reynolds American comprises about 3.9% of Pentwater Capital Management LP’s investment portfolio, making the stock its 4th largest position. Pentwater Capital Management LP owned 0.36% of Reynolds American at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the stock. Shepherd Financial Partners LLC acquired a new stake in Reynolds American during the fourth quarter worth approximately $1,008,000. Burren Capital Advisors Ltd acquired a new stake in Reynolds American during the fourth quarter worth approximately $3,626,000. American National Registered Investment Advisor Inc. acquired a new stake in Reynolds American during the fourth quarter worth approximately $236,000. Nokota Management LP acquired a new stake in Reynolds American during the fourth quarter worth approximately $28,720,000. Finally, RB Capital Management LLC acquired a new stake in Reynolds American during the fourth quarter worth approximately $1,676,000. Institutional investors and hedge funds own 46.34% of the company’s stock.
Shares of Reynolds American Inc (NYSE RAI) traded down 2.23% during trading on Friday, hitting $65.40. The stock had a trading volume of 159,452,032 shares. Reynolds American Inc has a 12-month low of $43.38 and a 12-month high of $67.81. The stock’s 50-day moving average is $65.38 and its 200-day moving average is $63.55.
Reynolds American (NYSE:RAI) last announced its quarterly earnings data on Wednesday, May 3rd. The company reported $0.56 EPS for the quarter, missing the Zacks’ consensus estimate of $0.57 by $0.01. Reynolds American had a net margin of 26.23% and a return on equity of 15.64%. The firm had revenue of $2.95 billion during the quarter, compared to analyst estimates of $3.03 billion. During the same quarter in the previous year, the business earned $0.50 EPS. Reynolds American’s revenue for the quarter was up 1.1% on a year-over-year basis. Equities analysts forecast that Reynolds American Inc will post $2.56 earnings per share for the current fiscal year.
Several equities research analysts recently weighed in on RAI shares. BidaskClub lowered Reynolds American from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 10th. Jefferies Group LLC set a $60.00 price target on Reynolds American and gave the company a “hold” rating in a research report on Monday, July 17th. Cowen and Company restated a “hold” rating and issued a $65.00 target price on shares of Reynolds American in a research report on Tuesday, July 11th. Vetr upgraded Reynolds American from a “sell” rating to a “hold” rating and set a $61.64 price objective for the company in a research report on Tuesday, April 11th. Finally, Piper Jaffray Companies initiated coverage on Reynolds American in a research note on Thursday, May 25th. They issued a “neutral” rating and a $67.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $59.82.
Reynolds American Company Profile
Reynolds American Inc (RAI) is a holding company. The Company’s segments include RJR Tobacco, which consists of the primary operations of its subsidiary, R. J. Reynolds Tobacco Company; Santa Fe, which consists of the primary operations of its subsidiary, Santa Fe Natural Tobacco Company, Inc, and American Snuff, which consists of the primary operations of its subsidiary, American Snuff Company, LLC.
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