ETRADE Capital Management LLC Has $217,000 Stake in Argan, Inc. (AGX)
ETRADE Capital Management LLC trimmed its stake in shares of Argan, Inc. (NYSE:AGX) by 73.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,223 shares of the construction company’s stock after selling 8,745 shares during the period. ETRADE Capital Management LLC’s holdings in Argan were worth $217,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. C M Bidwell & Associates Ltd. purchased a new stake in shares of Argan during the second quarter valued at $106,000. Victory Capital Management Inc. lifted its holdings in shares of Argan by 17.7% during the second quarter. Victory Capital Management Inc. now owns 2,001 shares of the construction company’s stock valued at $120,000 after purchasing an additional 301 shares during the last quarter. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Argan during the second quarter valued at $123,000. Amica Retiree Medical Trust purchased a new stake in shares of Argan during the third quarter valued at $123,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Argan during the second quarter valued at $181,000. 83.91% of the stock is owned by institutional investors and hedge funds.
Separately, BidaskClub downgraded Argan from a “hold” rating to a “sell” rating in a research note on Monday, August 14th.
Argan (NYSE:AGX) last announced its quarterly earnings data on Thursday, September 7th. The construction company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.69. The firm had revenue of $259.80 million during the quarter, compared to the consensus estimate of $217.75 million. Argan had a return on equity of 28.23% and a net margin of 9.88%. The business’s revenue for the quarter was up 59.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.29 EPS.
In other Argan news, Director John Ronald Jr. Jeffrey acquired 1,000 shares of Argan stock in a transaction that occurred on Friday, October 20th. The stock was purchased at an average cost of $68.02 per share, with a total value of $68,020.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 7.64% of the stock is currently owned by corporate insiders.
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Argan, Inc is a holding company. The Company conducts operations through its subsidiaries, Gemma Power Systems, LLC and affiliates (GPS), Atlantic Projects Company Limited (APC), Southern Maryland Cable, Inc (SMC) and The Roberts Company (Roberts). Through GPS and APC, the Company’s power industry services segment provides engineering, procurement, construction, commissioning, operations management, maintenance, development, technical and consulting services to the power generation and renewable energy markets.
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