Assetmark Inc. Increases Stake in Dell Technologies Inc. (DVMT)
Assetmark Inc. grew its holdings in Dell Technologies Inc. (NYSE:DVMT) by 12,934.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 59,826 shares of the company’s stock after buying an additional 59,367 shares during the period. Assetmark Inc.’s holdings in Dell Technologies were worth $4,619,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Cheyne Capital Management UK LLP purchased a new position in Dell Technologies during the third quarter worth about $2,186,000. State of Wisconsin Investment Board grew its position in Dell Technologies by 70.6% during the third quarter. State of Wisconsin Investment Board now owns 1,298,767 shares of the company’s stock worth $100,278,000 after buying an additional 537,367 shares during the period. SG Americas Securities LLC grew its position in Dell Technologies by 1,117.0% during the third quarter. SG Americas Securities LLC now owns 112,004 shares of the company’s stock worth $8,648,000 after buying an additional 102,801 shares during the period. Beach Point Capital Management LP acquired a new position in Dell Technologies during the third quarter worth about $7,906,000. Finally, Longfellow Investment Management Co. LLC grew its position in Dell Technologies by 316.4% during the third quarter. Longfellow Investment Management Co. LLC now owns 104,100 shares of the company’s stock worth $8,038,000 after buying an additional 79,100 shares during the period. 23.16% of the stock is owned by institutional investors and hedge funds.
Shares of Dell Technologies Inc. (NYSE:DVMT) traded down $1.44 on Thursday, reaching $80.79. 1,481,700 shares of the company’s stock traded hands, compared to its average volume of 1,336,096. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 2.44. Dell Technologies Inc. has a one year low of $51.02 and a one year high of $83.98. The firm has a market capitalization of $63,545.13, a price-to-earnings ratio of 13.03 and a beta of 0.60.
Dell Technologies (NYSE:DVMT) last released its quarterly earnings results on Thursday, September 7th. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.09 by $0.79. The business had revenue of $19.30 billion for the quarter. Dell Technologies had a negative net margin of 6.24% and a positive return on equity of 19.45%.
Separately, BidaskClub lowered shares of Dell Technologies from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 2nd.
In other Dell Technologies news, CEO Michael S. Dell purchased 13,058 shares of the stock in a transaction dated Monday, August 28th. The shares were acquired at an average cost of $25.03 per share, for a total transaction of $326,841.74. Following the completion of the transaction, the chief executive officer now directly owns 418,031 shares of the company’s stock, valued at $10,463,315.93. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider David I. Goulden sold 4,700 shares of the stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $76.26, for a total transaction of $358,422.00. Following the completion of the sale, the insider now owns 34,855 shares in the company, valued at $2,658,042.30. The disclosure for this sale can be found here. Insiders sold 517,809 shares of company stock worth $50,749,496 over the last quarter. Company insiders own 45.00% of the company’s stock.
Dell Technologies Company Profile
Dell Technologies Inc, formerly Denali Holding Inc, is a provider of information technology solutions. The Company operates through two segments: Client Solutions and Enterprise Solutions Group (ESG). The Client Solutions segment includes sales to commercial and consumer customers of desktops, thin client products and notebooks, as well as services and third-party software and peripherals closely tied to the sale of Client Solutions hardware.
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