KBC Group NV Sells 31,142 Shares of Belmond Ltd (BEL)
KBC Group NV cut its holdings in shares of Belmond Ltd (NYSE:BEL) by 61.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,269 shares of the company’s stock after selling 31,142 shares during the quarter. KBC Group NV’s holdings in Belmond were worth $263,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Schwab Charles Investment Management Inc. increased its holdings in shares of Belmond by 5.6% during the third quarter. Schwab Charles Investment Management Inc. now owns 375,603 shares of the company’s stock worth $5,127,000 after purchasing an additional 19,952 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Belmond by 7.4% during the third quarter. Wells Fargo & Company MN now owns 89,853 shares of the company’s stock worth $1,227,000 after purchasing an additional 6,193 shares during the period. Hosking Partners LLP increased its holdings in shares of Belmond by 0.5% during the third quarter. Hosking Partners LLP now owns 3,384,653 shares of the company’s stock worth $46,201,000 after purchasing an additional 15,663 shares during the period. SG Americas Securities LLC bought a new position in shares of Belmond during the third quarter worth approximately $286,000. Finally, Wellington Shields Capital Management LLC increased its holdings in shares of Belmond by 548.3% during the third quarter. Wellington Shields Capital Management LLC now owns 116,200 shares of the company’s stock worth $1,586,000 after purchasing an additional 98,276 shares during the period. 81.09% of the stock is currently owned by institutional investors.
Several brokerages have recently commented on BEL. Deutsche Bank lowered their target price on shares of Belmond from $13.00 to $12.00 and set a “hold” rating on the stock in a report on Wednesday, November 8th. BidaskClub cut shares of Belmond from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Belmond currently has an average rating of “Hold” and a consensus price target of $14.33.
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Belmond Ltd. (Belmond) is a hotel company and adventure travel operator. As of December 31, 2016, Belmond owned, partially-owned and/or operated 45 properties, consisting of 34 individual deluxe hotels, 29 of which are owned (including nine under long-term lease), five European tourist trains, two cruise ships in Myanmar (one of which is under long-term charter), one French canal cruise business consisting of five small canal boats, and one stand-alone restaurant in the United States.
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