Renaissance Technologies LLC Acquires 114,794 Shares of Commercial Vehicle Group, Inc. (CVGI)
Renaissance Technologies LLC raised its stake in shares of Commercial Vehicle Group, Inc. (NASDAQ:CVGI) by 10.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,242,000 shares of the company’s stock after buying an additional 114,794 shares during the period. Renaissance Technologies LLC owned about 4.03% of Commercial Vehicle Group worth $8,408,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in CVGI. Bank of New York Mellon Corp raised its position in shares of Commercial Vehicle Group by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 115,861 shares of the company’s stock valued at $785,000 after buying an additional 1,439 shares in the last quarter. ClariVest Asset Management LLC raised its position in shares of Commercial Vehicle Group by 5.3% in the first quarter. ClariVest Asset Management LLC now owns 72,829 shares of the company’s stock valued at $493,000 after buying an additional 3,675 shares in the last quarter. Vanguard Group Inc. raised its stake in Commercial Vehicle Group by 0.8% in the first quarter. Vanguard Group Inc. now owns 1,131,065 shares of the company’s stock valued at $7,658,000 after buying an additional 9,295 shares during the period. Morgan Stanley raised its stake in Commercial Vehicle Group by 5.1% in the first quarter. Morgan Stanley now owns 329,923 shares of the company’s stock valued at $2,234,000 after buying an additional 16,145 shares during the period. Finally, Trexquant Investment LP purchased a new stake in Commercial Vehicle Group during the first quarter valued at approximately $155,000. Hedge funds and other institutional investors own 62.85% of the company’s stock.
Commercial Vehicle Group, Inc. (NASDAQ:CVGI) traded down 0.50% during midday trading on Friday, reaching $6.03. The company’s stock had a trading volume of 242,999 shares. The firm has a market capitalization of $180.13 million, a P/E ratio of 79.34 and a beta of 0.66. Commercial Vehicle Group, Inc. has a 52 week low of $4.36 and a 52 week high of $9.62. The company’s 50-day moving average is $8.05 and its 200 day moving average is $7.49.
Commercial Vehicle Group (NASDAQ:CVGI) last announced its quarterly earnings results on Monday, August 7th. The company reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by $0.05. The company had revenue of $195.13 million during the quarter, compared to analyst estimates of $186.20 million. Commercial Vehicle Group had a net margin of 0.34% and a return on equity of 10.65%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 EPS. Analysts expect that Commercial Vehicle Group, Inc. will post $0.36 earnings per share for the current fiscal year.
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CVGI has been the subject of several research reports. Seaport Global Securities cut their price objective on Commercial Vehicle Group from $11.00 to $8.50 and set a “buy” rating for the company in a research note on Monday, May 8th. Zacks Investment Research lowered Commercial Vehicle Group from a “buy” rating to a “hold” rating in a research note on Friday, August 11th.
Commercial Vehicle Group Company Profile
Commercial Vehicle Group, Inc is a supplier of a range of cab-related products and systems. The Company operates through two segments: the Global Truck and Bus Segment (GTB Segment) and the Global Construction and Agriculture Segment (GCA Segment). The GTB Segment manufactures and sells products, which include Seats, Trim, sleeper boxes, cab structures, structural components and body panels, and mirrors and wiper systems.
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