LSV Asset Management Has $8.74 Million Holdings in Akorn, Inc. (AKRX)
LSV Asset Management decreased its holdings in shares of Akorn, Inc. (NASDAQ:AKRX) by 79.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 260,479 shares of the company’s stock after selling 1,023,211 shares during the period. LSV Asset Management owned about 0.21% of Akorn worth $8,736,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Meadow Creek Investment Management LLC lifted its stake in Akorn by 8.3% during the first quarter. Meadow Creek Investment Management LLC now owns 4,368 shares of the company’s stock worth $105,000 after purchasing an additional 336 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Akorn by 22.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,228 shares of the company’s stock worth $108,000 after purchasing an additional 599 shares during the period. Glen Harbor Capital Management LLC lifted its stake in Akorn by 8.3% during the first quarter. Glen Harbor Capital Management LLC now owns 5,304 shares of the company’s stock worth $128,000 after purchasing an additional 408 shares during the period. Victory Capital Management Inc. lifted its stake in Akorn by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,177 shares of the company’s stock worth $140,000 after purchasing an additional 626 shares during the period. Finally, Private Advisor Group LLC bought a new position in Akorn during the first quarter worth about $164,000. Hedge funds and other institutional investors own 69.71% of the company’s stock.
Akorn, Inc. (NASDAQ:AKRX) opened at 33.10 on Friday. The company has a market cap of $4.13 billion, a PE ratio of 33.43 and a beta of 1.38. The stock has a 50 day moving average of $33.04 and a 200-day moving average of $31.16. Akorn, Inc. has a 1-year low of $17.61 and a 1-year high of $34.00.
AKRX has been the subject of a number of analyst reports. Royal Bank Of Canada set a $34.00 price target on shares of Akorn and gave the stock a “hold” rating in a research note on Saturday, May 27th. BidaskClub upgraded shares of Akorn from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Jefferies Group LLC restated a “hold” rating and set a $34.00 price target on shares of Akorn in a research note on Wednesday, July 19th. TheStreet cut shares of Akorn from a “b-” rating to a “c” rating in a research note on Tuesday, August 1st. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $34.00 target price on shares of Akorn in a research note on Thursday, August 10th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $28.56.
In other news, COO Bruce Kutinsky sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $33.46, for a total transaction of $1,338,400.00. Following the completion of the sale, the chief operating officer now owns 317,480 shares of the company’s stock, valued at approximately $10,622,880.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Brian Tambi sold 5,165 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $33.37, for a total transaction of $172,356.05. The disclosure for this sale can be found here. Corporate insiders own 28.20% of the company’s stock.
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Akorn Company Profile
Akorn Inc (Akorn), together with its subsidiaries, is a specialty generic pharmaceutical company that develops, manufactures and markets generic and branded prescription pharmaceuticals, as well as private-label over-the-counter (OTC) consumer health products and animal health pharmaceuticals. The Company operates through two segments: Prescription Pharmaceuticals and the Consumer Health.
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