Belmond (NYSE:BEL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

According to Zacks, “Belmond is a global collection of exceptional hotel and luxury travel adventures in some of the world’s most inspiring and enriching destinations. Established almost 40 years ago with the acquisition of Belmond Hotel Cipriani in Venice, the Company owns and operates unique and distinctive hotel, rail and river cruise experiences in many of the world’s most celebrated destinations. From city landmarks to intimate resorts, the collection includes Belmond Grand Hotel Europe, St. Petersburg; Belmond Copacabana Palace, Rio de Janeiro; Belmond Maroma Resort & Spa, Riviera Maya; and Belmond El Encanto, Santa Barbara. Belmond also encompasses safaris, six luxury tourist trains including the Venice Simplon-Orient-Express, three river cruises and ’21’, one of New York’s most storied restaurants. “

Separately, Deutsche Bank decreased their price target on shares of Belmond from $13.00 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. Belmond currently has a consensus rating of “Hold” and an average price target of $14.33.

Shares of Belmond (NYSE BEL) traded down $0.10 during mid-day trading on Tuesday, reaching $12.25. 222,384 shares of the company’s stock traded hands, compared to its average volume of 284,899. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.92 and a quick ratio of 1.77. Belmond has a 52 week low of $11.00 and a 52 week high of $14.45. The stock has a market cap of $1,490.00, a PE ratio of -122.50 and a beta of 1.20.

A number of hedge funds have recently modified their holdings of the business. Impala Asset Management LLC boosted its position in Belmond by 13.0% in the 4th quarter. Impala Asset Management LLC now owns 958,302 shares of the company’s stock valued at $11,739,000 after buying an additional 110,073 shares during the period. Citadel Advisors LLC lifted its position in shares of Belmond by 925.8% during the 4th quarter. Citadel Advisors LLC now owns 104,337 shares of the company’s stock worth $1,278,000 after purchasing an additional 94,166 shares during the last quarter. BlackRock Inc. lifted its position in shares of Belmond by 3.1% during the 4th quarter. BlackRock Inc. now owns 11,145,737 shares of the company’s stock worth $136,535,000 after purchasing an additional 329,994 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Belmond by 14.7% during the 4th quarter. Rhumbline Advisers now owns 200,583 shares of the company’s stock worth $2,457,000 after purchasing an additional 25,712 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Belmond by 224.2% during the 4th quarter. Arizona State Retirement System now owns 141,044 shares of the company’s stock worth $1,728,000 after purchasing an additional 97,544 shares during the last quarter. 80.77% of the stock is owned by institutional investors.

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About Belmond

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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