Citadel Advisors LLC Purchases New Stake in NCS Multistage Holdings Inc (NCSM)
Citadel Advisors LLC purchased a new position in shares of NCS Multistage Holdings Inc (NASDAQ:NCSM) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 14,521 shares of the company’s stock, valued at approximately $350,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Nationwide Fund Advisors purchased a new position in NCS Multistage during the 2nd quarter worth approximately $157,000. Strs Ohio grew its stake in shares of NCS Multistage by 131.3% during the 3rd quarter. Strs Ohio now owns 7,400 shares of the company’s stock worth $178,000 after purchasing an additional 4,200 shares during the period. Alliancebernstein L.P. acquired a new stake in shares of NCS Multistage during the 2nd quarter worth approximately $201,000. The Manufacturers Life Insurance Company acquired a new stake in shares of NCS Multistage during the 2nd quarter worth approximately $211,000. Finally, Parametric Portfolio Associates LLC acquired a new stake in shares of NCS Multistage during the 2nd quarter worth approximately $257,000. 93.02% of the stock is owned by institutional investors.
A number of brokerages have recently commented on NCSM. Zacks Investment Research cut shares of NCS Multistage from a “buy” rating to a “sell” rating in a research note on Saturday, November 18th. Raymond James Financial raised shares of NCS Multistage from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, November 15th. UBS raised shares of NCS Multistage from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, November 15th. Credit Suisse Group dropped their price objective on shares of NCS Multistage from $27.00 to $23.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 15th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and set a $30.00 price objective (down previously from $35.00) on shares of NCS Multistage in a research note on Wednesday, November 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $27.43.
NCS Multistage (NASDAQ:NCSM) last released its quarterly earnings results on Monday, November 13th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.03). NCS Multistage had a net margin of 2.42% and a return on equity of 2.22%. The company had revenue of $55.96 million during the quarter, compared to analyst estimates of $58.92 million. analysts expect that NCS Multistage Holdings Inc will post 0.2 EPS for the current year.
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About NCS Multistage
NCS Multistage Holdings, Inc is a provider of engineered products and support services for oil and natural gas well completions and field development strategies. The Company’s products and services include Multistage Unlimited, casing-installed sliding sleeves, downhole frac isolation assembly, AirLock casing buoyancy system and liner hanger systems.
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