PICS (NASDAQ:PICS) Receives Consensus Rating of “Moderate Buy” from Brokerages

PICS (NASDAQ:PICS) has been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $23.1667.

PICS has been the topic of a number of research analyst reports. Weiss Ratings downgraded shares of PICS from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 20th. Wall Street Zen raised shares of PICS from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 12th. Zacks Research cut shares of PICS from a “hold” rating to a “strong sell” rating in a research report on Friday, June 5th. Royal Bank Of Canada decreased their price target on shares of PICS from $19.00 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday, June 3rd. Finally, Mizuho set a $18.00 price objective on shares of PICS in a report on Wednesday, June 3rd.

PICS News Roundup

Here are the key news stories impacting PICS this week:

• Neutral Sentiment: Several law firms reiterated the August 4 deadline for investors to seek lead-plaintiff status in the securities class action, keeping the lawsuit in focus and reminding the market of the ongoing legal process. PICS Deadline: PICS Investors Have Opportunity to Lead PicS N.V. Securities Lawsuit
• Neutral Sentiment: Johnson Fistel, Kaplan Fox, Glancy Prongay Wolke & Rotter, Pomerantz, Schall, Bernstein Liebhard, and others all issued similar class-action notices, underscoring that the litigation story is broad and still developing. PicS N.V. Class Action Lawsuit Alert
• Negative Sentiment: The core allegation across the filings is that PicS allegedly made misrepresentations or omissions in its IPO materials, including claims about underwriting quality and credit/portfolio deterioration; that kind of accusation can hurt investor confidence and keep the stock under pressure. PICS ALERT: PicS N.V. Investors Urged to Contact Hagens Berman

PICS Stock Down 3.6%

Shares of PICS stock opened at $11.91 on Friday. The business has a fifty day simple moving average of $10.84. PICS has a 52 week low of $8.32 and a 52 week high of $19.95.

Insider Transactions at PICS

In other news, insider Cazotto Andre Augusto bought 49,500 shares of the stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $9.41 per share, for a total transaction of $465,795.00. Following the purchase, the insider directly owned 57,700 shares in the company, valued at $542,957. This trade represents a 603.66% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Costa Jose Antonio Batista bought 22,000 shares of the stock in a transaction dated Thursday, June 4th. The stock was purchased at an average price of $9.09 per share, with a total value of $199,980.00. Following the purchase, the director owned 4,291,216 shares in the company, valued at $39,007,153.44. This trade represents a 0.52% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders bought 136,130 shares of company stock valued at $1,267,515.