Monday, April 1, 2019

Chipotle's stock is having its best quarter ever—here's how to play it

Chipotle's stock is sizzling.

Shares of the fast-casual chain are on pace for their best quarter ever, up about 60 percent year to date and some 80 percent from the December lows.

On Tuesday, the stock reached its highest level since 2015.

Given the surge, market watchers tell CNBC it's not yet time for investors to take advantage of Chipotle's red-hot rally.

Erin Gibbs, research analyst at S&P Global Market Intelligence, said Tuesday that while the company's double-digit profit growth, expansion plans and mobile-ordering boost are generally promising, the stock has run too much for her taste.

"It's a little pricey at this point," she told CNBC's "Trading Nation." "Its valuations are very extended, and ... if they don't beat these really high expectations, if they don't hit every single number, I'm worried about the negative part and [expectations] coming down. And we already know from last year [that] health concerns, data breach, anything can send this stock plummeting. So I'd like to see an entry point closer to about $615. That would make me feel more comfortable."

Frank Cappelleri, chief market technician at Instinet, was also somewhat cautious, telling CNBC in the same segment that the stock has looked "extended" since mid-January.

Cappelleri noted that if Chipotle's stock can break out of its current inverse head-and-shoulders pattern, it could rally into the $700s. But with the current reading on its relative strength index, which tracks buying and selling pressure, he said he'd also advise investors to wait for a better entry point.

"The RSI is at 86, and that is the second-highest level we've seen in its entire history," he said. A reading over 70 indicates that a security is overbought.

"At this point, the stock has done nothing wrong except go up," Cappelleri said. "I think it pauses, and we take advantage of that and buy it on weakness."

Shares of Chipotle made a new 52-week high of $692.75 a share on Tuesday, closing slightly lower at $688.82. They were up 1.7 percent in Wednesday's premarket. Shares are up nearly 110 percent in the last 12 months.

Disclaimer

Tuesday, March 26, 2019

Hold Star Cement; target of Rs 110: ICICI Direct


ICICI Direct's research report on Star Cement


We recently met the management of Star Cement. The key takeaways are: -i) Siliguri 2 MT grinding unit expansion is on track and is expected to be commissioned in H2FY20E. This plant will mainly serve the North Bengal and Eastern Bihar markets, which currently have annual demand of ~5.5-6 MT demand and are growing at healthy pace, ii) in the North East region, incremental demand will mainly be served by Dalmia and Star Cement as other players are already operating at higher utilisation, iii) currently cement prices in Guwahati are at around Rs 390/bag; limited scope for price increase because prices above Rs 415-420 levels, will attract supply from eastern region players, currently 10-12% of volumes come from these players, iv) due to supply shortage, prices of clinker in the north east region have shot up from Rs 3000 per tonne earlier to Rs4000-4500 per tonne, v) prices in West Bengal are facing headwinds due to incremental supply coming from the ramp-up of acquired plants of Century Textiles by UltraTech Cement.


Outlook


In the near term, cessation of transport subsidy, higher power cost and other expenses would keep margins under pressure. Hence, we maintain HOLD rating with a revised target price of Rs 110 (i.e. 8.5x FY20E EV/EBITDA).


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Read More First Published on Mar 22, 2019 03:17 pm

Saturday, March 23, 2019

Hot Warren Buffett Stocks To Own Right Now

tags:FDP,JTPY,TWOU,BNJ,FIVN,

The world's richest person just got a good deal richer. 

With Amazon.com Inc's (AMZN) stock price soaring close to 7% on Friday morning to a new all-time high following the e-commerce giant's blockbuster earnings report, founder and CEO Jeff Bezos' net worth increased by roughly $9.4 billion to $129.4 billion.

Bezos owns about 16.3% of Amazon's stock, as of the latest SEC forms filed on Feb. 27. His net worth has increased by about $37 billion this year alone as Amazon's stock has soared about almost 40%. Amazon's previous high of $1,617.54 was reached in March.

With his latest gains, Bezos, who founded Amazon as on online bookseller in 1994, is starting to leave his previous rivals for the title of world's richest in the dust, according to Bloomberg's billionaire's index. As of Thursday, Microsoft (MSFT) co-founder Bill Gates occupied the No. 2 spot with an estimated net worth of $91.1 billion, while investing legend Warren Buffett held the No. 3 spot at $84.6 billion. 

Hot Warren Buffett Stocks To Own Right Now: Fresh Del Monte Produce, Inc.(FDP)

Advisors' Opinion:
  • [By Motley Fool Transcribers]

    Fresh Del Monte Produce Inc  (NYSE:FDP)Q4 2018 Earnings Conference CallFeb. 19, 2019, 11:00 a.m. ET

    Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks:

    Operator

  • [By Logan Wallace]

    Fresh Del Monte Produce Inc (NYSE:FDP) fell 17.1% during trading on Tuesday following a weaker than expected earnings announcement. The company traded as low as $28.61 and last traded at $29.21. 1,113,690 shares changed hands during trading, an increase of 487% from the average session volume of 189,794 shares. The stock had previously closed at $35.22.

  • [By Stephan Byrd]

    Fresh Del Monte Produce (NYSE: FDP) and Limoneira (NASDAQ:LMNR) are both consumer staples companies, but which is the better stock? We will compare the two businesses based on the strength of their earnings, dividends, risk, profitability, institutional ownership, valuation and analyst recommendations.

Hot Warren Buffett Stocks To Own Right Now: JetPay Corporation(JTPY)

Advisors' Opinion:
  • [By Joseph Griffin]

    JetPay (NASDAQ:JTPY) posted its quarterly earnings results on Thursday. The credit services provider reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.03), Fidelity Earnings reports. The company had revenue of $15.87 million during the quarter, compared to analyst estimates of $19.33 million. JetPay had a negative net margin of 4.54% and a negative return on equity of 305.34%.

Hot Warren Buffett Stocks To Own Right Now: 2U, Inc.(TWOU)

Advisors' Opinion:
  • [By Todd Campbell]

    I'm always on the lookout for fast-growing stocks to include in my retirement portfolio. Recently, I bought shares in Paycom Software, Inc. (NYSE:PAYC), BioMarin Pharmaceutical (NASDAQ:BMRN), and 2U Inc. (NASDAQ:TWOU). Are these stocks right for your portfolio, too? Read on to learn why I think these companies can deliver market-beating returns.

  • [By Steve Symington]

    Shares of 2U (NASDAQ:TWOU) rose as much as 13% early Tuesday then settled to trade up 4.4% as of 3:00 p.m. after the online education platform specialist announced strong fourth-quarter 2018 results.

  • [By Logan Wallace]

    Piper Jaffray Companies assumed coverage on shares of 2U (NASDAQ:TWOU) in a research note published on Thursday morning, MarketBeat reports. The firm issued a neutral rating and a $94.00 price objective on the software maker’s stock.

  • [By Brian Withers]

    2U Inc.'s (NASDAQ:TWOU) stock has had an amazing run since the company went public, up over 500% since the March 2014 IPO. The online education company posted stellar 2017 results and has continued robust revenue growth in Q1 2018 with 42% year-over-year growth. But the company still hasn't posted a profit, with a net loss of $29.4 million in 2017, compared to a loss of $20.7 million in 2016. First-quarter results posted in early May showed a quarterly net loss of $14.9 million, and is the company projecting a full year net loss between $46.6 million and $44.7 million. 

Hot Warren Buffett Stocks To Own Right Now: BlackRock New Jersey Municipal Income Trust(BNJ)

Advisors' Opinion:
  • [By Max Byerly]

    News headlines about Blackrock New Jersey Municipal Income Tr (NYSE:BNJ) have been trending positive on Wednesday, according to Accern Sentiment Analysis. Accern rates the sentiment of media coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Blackrock New Jersey Municipal Income Tr earned a news impact score of 0.32 on Accern’s scale. Accern also gave media coverage about the investment management company an impact score of 47.9578208138909 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.

  • [By Logan Wallace]

    Headlines about Blackrock New Jersey Municipal Income Tr (NYSE:BNJ) have trended positive this week, according to Accern Sentiment Analysis. The research group rates the sentiment of media coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Blackrock New Jersey Municipal Income Tr earned a news impact score of 0.36 on Accern’s scale. Accern also gave media stories about the investment management company an impact score of 48.5554072096128 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.

Hot Warren Buffett Stocks To Own Right Now: Five9, Inc.(FIVN)

Advisors' Opinion:
  • [By Shane Hupp]

    Get a free copy of the Zacks research report on Five9 (FIVN)

    For more information about research offerings from Zacks Investment Research, visit Zacks.com

  • [By Stephan Byrd]

    Here are some of the news stories that may have effected Accern’s rankings:

    Get MDU Resources Group alerts: MDU Resources Group, Inc. (MDU): Stock Trending Alert (thenewsbloom.org) These Stocks’s might change the Kismet of Investors: Five9, Inc. (NASDAQ:FIVN), MDU Resources Group, Inc. (NYSE … (journalfinance.net) Is this stock Watchful?: MDU Resources Group, Inc. (MDU), Dover Downs Gaming & Entertainment, Inc. (DDE) (newsregistrar.com) MDU Resources Group, Inc. (MDU) crosses above SMA-50 with 0.40% (nasdaqplace.com)

    NYSE MDU opened at $28.48 on Tuesday. The stock has a market cap of $5.59 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 3.17 and a beta of 0.64. The company has a current ratio of 1.39, a quick ratio of 1.05 and a debt-to-equity ratio of 0.71. MDU Resources Group has a one year low of $24.29 and a one year high of $29.62.

  • [By Shane Hupp]

    Get a free copy of the Zacks research report on Five9 (FIVN)

    For more information about research offerings from Zacks Investment Research, visit Zacks.com

  • [By Logan Wallace]

    Five9 (NASDAQ:FIVN) had its target price raised by JPMorgan Chase & Co. to $46.00 in a report released on Tuesday, The Fly reports. They currently have an overweight rating on the software maker’s stock.

  • [By Logan Wallace]

    Five9 Inc (NASDAQ:FIVN) shares reached a new 52-week high and low during trading on Tuesday . The stock traded as low as $34.99 and last traded at $32.51, with a volume of 23493 shares. The stock had previously closed at $32.99.

Friday, March 22, 2019

What the Fed could do about interest rates

With the Federal Reserve in wait-and-see mode, its announcement on interest rates Wednesday will provide less drama than previous Fed moves the past couple of years, including a December rate hike that roiled markets.

But its statement at 2 p.m. ET after a two-day meeting could shed some light on just how long Fed policymakers are prepared to hit the pause button. That message could move markets and provide a clearer picture of where rates are headed for credit cards, adjustable-rate mortgages and auto loans.

With the economic outlook growing cloudier in recent months, the Fed is virtually certain to hold rates steady, breaking from its pattern of hiking rates at every other meeting since December 2017. The big questions are: How many, if any, rate hikes do policymakers expect this year, and when do they plan to stop shrinking the Fed's balance sheet, an issue that could affect long-term rates.

The rate hike forecast, in particular, "it's going to grab the attention" of investors, says economist Kathy Bostjancic of Oxford Economics.

Here's a breakdown:

Where rates are headed

In December, the Fed lifted its key rate by a quarter percentage point for the fourth time in 2018 to a range of 2.25 to 2.5 percent. Fed officials also downgraded their forecast to two rate increases this year from three.

Yet stocks plunged because investors believed the Fed should hold off on any rate hikes amid a slowing global economy, the U.S. trade fight with China and the fading effects of federal tax cuts and spending increases that juiced growth in 2018.

Fed policymakers promptly reversed course and promised "patience" on future hikes in public appearances and after a January meeting, noting the market selloff itself had battered consumer and business confidence, and that inflation had remained muted.

NEWSLETTERSGet the Managing Your Money newsletter delivered to your inboxWe're sorry, but something went wrongA collection of articles to help you manage your finances like a pro.Please try again soon, or contact Customer Service at 1-800-872-0001.Delivery: FriInvalid email addressThank you! You're almost signed up for Managing Your MoneyKeep an eye out for an email to confirm your newsletter registration.More newsletters

As a result, markets broadly have rallied but the economic picture is still mixed. Morgan Stanley and Oxford Economics believe Fed officials Wednesday will predict one rate hike this year and another in 2020, based on their median estimate. But JPMorgan Chase figures policymakers will forecast no rate increases this year, a projection that likely would push stocks higher. Capital Economics reckons the Fed's next move will be rate cuts in 2020 as the economy wobbles.

The Federal Reserve building in Washington, D.C. (Photo: Getty Images)

Fed's view of the economy

Economists generally agree the Fed will lower its forecast amid the sputtering global economy and a federal stimulus that's likely to peter out by the end of the year. Morgan Stanley estimates the Fed will revise down its estimate for economic growth this year to 2 percent from 2.3 percent in December but nudge up its 2020 forecast to 2.1 percent from 2 percent.

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With growth slowing a bit, the firm expects the Fed to project that unemployment, now 3.8 percent, will drop to 3.6 percent by year-end, up from its 3.5 percent estimate in December. It expects the Fed to maintain its forecast for core inflation, which excludes volatile food and energy items, at 2 percent this year, right at the Fed's target level. JPMorgan expects a cut to 1.9 percent.

The disparate views mirror an economy that has provided conflicting signals. Retail sales fell sharply in December and only partly rebounded in January. Manufacturing has softened substantially amid the overseas troubles while the service sector has strengthened. Meanwhile, the labor market has been healthy but employers added just 20,000 jobs in February – a poor showing that largely has been chalked up to weather effects but may also reflect a slowdown in hiring.

While the government shutdown likely damped growth early this year, a rebound is expected in the second quarter.

Less balance sheet shrinkage

Since summer 2017, the Fed gradually had been shedding the $3.5 trillion in Treasury bonds and mortgage-backed securities that it purchased after the financial crisis to lower long-term rates and spur growth. As a result, the Fed's total asset portfolio has fallen to $3.9 trillion from a peak of $4.5 trillion.

Rather than sell the bonds, the Fed largely has stopped reinvesting their proceeds as they mature. As much as $50 billion a month in assets have rolled off its balance sheet, draining that amount of cash from the banking system and putting some upward pressure on long-term rates.

Tax tips: 7 red flags that could trigger an IRS audit of your taxes

But amid the market turbulence in December, Fed officials suggested they would likely stop reducing the balance sheet when it reaches about $3.5 trillion, more than the $2.5 trillion to $3 trillion previously anticipated. Many economists expect the Fed on Wednesday to formally announce when the balance sheet runoff will end, most likely in the second half of the year.

A relatively early end that stops rolling off bonds immediately, rather than gradually, could translate to slightly lower long-term interest rates that bolster the economy and markets.

CLOSE

Federal Reserve Chairman Jerome Powell said Friday that he will not resign if asked to do so by President Donald Trump. Powell said the central bank intends to be flexible going forward in determining when to hike its key policy rate. (Jan. 4) AP

 

Wednesday, March 20, 2019

Exela Technologies, Inc. (XELA) Q4 2018 Earnings Conference Call Transcript

Logo of jester cap with thought bubble.

Image source: The Motley Fool.

Exela Technologies, Inc.  (NASDAQ:XELA)Q4 2018 Earnings Conference CallMarch 18, 2019, 5:00 p.m. ET

Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks:

Operator

Good day, everyone, and welcome to the Exela Technologies Fourth Quarter 2018 Financial Results Conference Call. All participants will be in listen-only mode. (Operator Instructions) After today's presentation, there will be an opportunity to ask questions. (Operator Instructions) And please note that today's event is being recorded.

And I would now like to turn the conference over to Jim Mathias, Vice President of Investor Relations. Please go ahead.

Jim Mathias -- Vice President of Investor Relations

Thank you, William. Good afternoon, everyone, and welcome to the Exela Technologies fourth quarter and year-end 2018 conference call. I'm joined here today with Ron Cogburn, Exela's Chief Executive Officer; and Jim Reynolds, our Chief Financial Officer. Following prepared remarks made by Ron and Jim, we will take your questions.

Today's conference call is being broadcast live via webcast, which is available on the Investor Relations page of Exela's website, exelatech.com. A replay of this call will be available until March 25th, 2019. Information to access the replay is listed in today's press release, which is also available on the Investor Relations page of Exela's website.

During today's call, Exela will make certain statements regarding future events and financial performance that may be characterized as forward-looking under the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to known and unknown risks and uncertainties, and are based on current expectations and assumptions.

We undertake no obligation to update any statements to reflect the events that occur after this call, and actual results could differ materially from any forward-looking statements. For more information, please refer to the risk factors discussed in Exela's most recently filed periodic report on Form 10-K, along with the associated press release and the Company's other filings with the SEC. Copies are available from the SEC or the Investor Relations page of Exela's website.

During today's call, we will refer to certain non-GAAP financial measures. We believe these non-GAAP measures provide additional information on how management views the operating performance of our business. Reconciliations between GAAP and non-GAAP results we discussed on today's call can be found on the Investor Relations page of our website.

As a reminder, financial results discussed on today's call reflect pro forma combined company results for the business combination of SourceHOV Holdings and Novitex Holdings, which closed on July 12, 2017. Please note, the presentation that accompanies this conference call and an investor fact sheet are also accessible on the Investor Relations page of our website.

We will now begin by turning the call over to our CEO, Ron Cogburn. Ron?

Ron Cogburn -- Chief Executive Officer

Thanks, Jim. Good afternoon, and thanks, everyone, for joining us today. Let's start with slide number four and discuss our 2018 financial summary. We had a solid 2018 and achieved our revised g

Monday, March 18, 2019

Here's Why Stocks Are Set To Soar (And A 7.6% Dividend To Buy Now)

&l;p&g;&l;img class=&q;dam-image getty size-large wp-image-834487430&q; src=&q;https://specials-images.forbesimg.com/dam/imageserve/834487430/960x0.jpg?fit=scale&q; data-height=&q;640&q; data-width=&q;960&q;&g;

Tune out the nervous Nellies panicking over last week&a;rsquo;s job numbers: they missed the &l;i&g;real&l;/i&g; news&a;mdash;and their panic has handed us a straight shot at a cheap 7.6% dividend today.

More on that opportunity shortly.

First, the real story here is that wages jumped 3.4% in February, which is the fastest rate in half a century. And the unemployment rate sits at 3.8%, far lower than just two years ago, when it levitated north of 4.8%.

&l;b&g;A Direct Line From Paychecks to Profits&l;/b&g;

I&a;rsquo;m sure I don&a;rsquo;t have to tell you that consumers drive the economy, and more workers, making more cash, are &l;i&g;great&l;/i&g; news for stocks. But Wall Street, distracted by the Chicken Little headlines, is still in a funk, as we can see by the performance of the &l;b&g;SPDR S&a;amp;P 500 ETF (SPY)&a;mdash;&l;/b&g;more on this fund below.

Despite stocks&a;rsquo; uptick since the start of 2019, they&a;rsquo;re still far from 10-year highs, even though most companies posted revenue growth that beat expectations at the end of 2018.

This disconnect&a;mdash;stocks dipping, wages rising&a;mdash;slides open our buy window. Here are three ways to leap through, with far-and-away your best play, that bargain-basement 7.6% payer I mentioned off the top, bringing up the rear.

&l;b&g;Strategy No. 1: Go With the Popular Name&l;/b&g;

An easy way to benefit from strong wage growth is to simply buy the SPDR S&a;amp;P 500 ETF&l;b&g;, &l;/b&g;which will track the market&a;rsquo;s rise as richer consumers boost the economy.

But if you&a;rsquo;re a regular subscriber to my dividend-obsessed &l;i&g;CEF Insider&l;/i&g; service&a;mdash;whose portfolio yields 7.4%, on average&a;mdash;you know what I&a;rsquo;m going to say next: SPY&a;rsquo;s dividend is pathetic! With a 1.8% yield, it will give you just $18,000 in yearly income on a million bucks. That&a;rsquo;s just a hair over the poverty level for a two-person household.

If you want to grab more of your return in cash (the only true way to protect your retirement from a market crash), you&a;rsquo;ll need a lot more income.

&l;b&g;Strategy No. 2: Buy a Sector ETF&l;/b&g;

Another way many folks would look to tap this trend is through the &l;b&g;Consumer Discretionary ETF (XLY), &l;/b&g;which tracks the S&a;amp;P 500 consumer-discretionary sector. Since this fund&a;rsquo;s biggest holdings are &l;b&g;Amazon (AMZN)&l;/b&g;, &l;b&g;Home Depot (HD)&l;/b&g; and &l;b&g;McDonald&a;rsquo;s (MCD)&l;/b&g;, you&a;rsquo;ll grab a piece of the action as consumers eat out more, buy online and upgrade their homes.

XLY isn&a;rsquo;t even overbought, either: The fund is up 3.6% from a year ago, which is decent, and better than most S&a;amp;P 500 sectors, but that gain is a shadow of the 11% annualized return the fund has put up over the last five years (when the consumer-discretionary sector was the second-best performer, behind technology&a;rsquo;s 18% annualized return). This makes the sector attractive, since you&a;rsquo;re getting strong companies whose shares are performing below their usual level.

Too bad XLY&a;rsquo;s dividend is worse than that of SPY&a;mdash;just 1.2%. And while you &l;i&g;are&l;/i&g; looking at price upside here, we demand much more of our return in cash in &l;i&g;CEF Insider&l;/i&g;&a;mdash;and so should you.

Which brings me to your third (and best) play here:

&l;b&g;Option 3: Buy This 7.6% Dividend for 8% Off&l;/b&g;

You can supercharge your income stream with a &l;a href=&q;https://contrarianoutlook.com/why-you-need-to-invest-in-closed-end-funds/&q; target=&q;_blank&q;&g;closed-end fund (CEF)&l;/a&g;, namely the &l;b&g;Liberty All-Star Growth Fund (ASG),&l;/b&g; whose 7.6% yield crushes what you&a;rsquo;d get elsewhere; ASG holds discretionary favorites like &l;b&g;Amazon (AMZN) &l;/b&g;and &l;b&g;Visa (V).&l;/b&g;

Plus it&a;rsquo;s cheap: its discount to NAV (or the difference between its market price and the value of its portfolio) stands at 7.8%.

The fund has also done a great job of beating the S&a;amp;P 500&a;rsquo;s performance over the last decade, with a near-500% return!

It&a;rsquo;s tough to find this kind of growth with such a massive income stream, and in a market like the one we&a;rsquo;re facing, that&a;rsquo;s exactly what you want.

Why? Because you need equity exposure as the market continues to improve, but you also want to be able to access a percentage of that investment in the form of dividends in case you need cash but don&a;rsquo;t want to sell during a downturn.

With growing volatility in recent weeks, despite the strong data, this combination of being invested in the market and being able to slowly receive cash payouts is exactly what we&a;rsquo;re delivering in &l;i&g;CEF Insider&l;/i&g;&l;i&g;.&l;/i&g;

Disclosure: none

&l;/p&g;

Friday, March 15, 2019

Berman Capital Advisors LLC Purchases Shares of 1,203 Morgan Stanley (MS)

Berman Capital Advisors LLC purchased a new position in shares of Morgan Stanley (NYSE:MS) in the fourth quarter, Holdings Channel reports. The fund purchased 1,203 shares of the financial services provider’s stock, valued at approximately $46,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its stake in Morgan Stanley by 4,072.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 13,548,246 shares of the financial services provider’s stock valued at $342,000 after purchasing an additional 13,223,517 shares in the last quarter. Kiwi Wealth Investments Limited Partnership bought a new stake in Morgan Stanley in the third quarter valued at approximately $4,912,000. Prudential Financial Inc. increased its stake in Morgan Stanley by 136.8% in the fourth quarter. Prudential Financial Inc. now owns 5,453,354 shares of the financial services provider’s stock valued at $216,226,000 after purchasing an additional 3,150,224 shares in the last quarter. ValueAct Holdings L.P. increased its stake in Morgan Stanley by 11.2% in the third quarter. ValueAct Holdings L.P. now owns 20,810,470 shares of the financial services provider’s stock valued at $969,144,000 after purchasing an additional 2,100,850 shares in the last quarter. Finally, Pzena Investment Management LLC increased its stake in Morgan Stanley by 14.4% in the fourth quarter. Pzena Investment Management LLC now owns 9,262,583 shares of the financial services provider’s stock valued at $367,261,000 after purchasing an additional 1,163,498 shares in the last quarter. 84.15% of the stock is owned by institutional investors and hedge funds.

Get Morgan Stanley alerts:

In related news, CFO Paul C. Wirth sold 25,000 shares of the stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $42.40, for a total transaction of $1,060,000.00. Following the completion of the transaction, the chief financial officer now owns 169,031 shares in the company, valued at $7,166,914.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey S. Brodsky sold 15,565 shares of the stock in a transaction on Friday, January 18th. The stock was sold at an average price of $43.38, for a total transaction of $675,209.70. Following the transaction, the insider now owns 112,420 shares of the company’s stock, valued at approximately $4,876,779.60. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Several brokerages have commented on MS. Zacks Investment Research raised shares of Morgan Stanley from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Monday, November 26th. BMO Capital Markets lowered their target price on shares of Morgan Stanley to $65.00 and set an “outperform” rating for the company in a research note on Friday, January 18th. Credit Suisse Group reaffirmed a “buy” rating and issued a $56.00 target price on shares of Morgan Stanley in a research note on Wednesday, February 20th. Societe Generale downgraded shares of Morgan Stanley from a “hold” rating to a “sell” rating in a research note on Friday, February 1st. Finally, ValuEngine downgraded shares of Morgan Stanley from a “sell” rating to a “strong sell” rating in a research note on Saturday, February 23rd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $56.25.

Morgan Stanley stock opened at $42.03 on Wednesday. The company has a market capitalization of $71.15 billion, a PE ratio of 9.12, a P/E/G ratio of 0.74 and a beta of 1.20. Morgan Stanley has a twelve month low of $36.74 and a twelve month high of $59.29. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 2.67.

Morgan Stanley (NYSE:MS) last released its quarterly earnings results on Thursday, January 17th. The financial services provider reported $0.73 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.17). The company had revenue of $8.55 billion during the quarter, compared to analyst estimates of $9.32 billion. Morgan Stanley had a net margin of 17.43% and a return on equity of 12.08%. The firm’s quarterly revenue was down 10.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 EPS. As a group, equities research analysts predict that Morgan Stanley will post 4.89 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, February 15th. Investors of record on Thursday, January 31st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.86%. The ex-dividend date was Wednesday, January 30th. Morgan Stanley’s payout ratio is 26.03%.

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Morgan Stanley Profile

Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals in the Americas, Europe, the Middle East, Africa, and Asia. The company operates Institutional Securities, Wealth Management, and Investment Management segments.

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Institutional Ownership by Quarter for Morgan Stanley (NYSE:MS)

Wednesday, March 13, 2019

CyberOptics Corp (CYBE) Files 10-K for the Fiscal Year Ended on December 31, 2018

CyberOptics Corp (NASDAQ:CYBE) files its latest 10-K with SEC for the fiscal year ended on December 31, 2018. CyberOptics Corp is engaged in developing & manufacturing high precision sensing technology solutions. It manufactures 3D and 2D optical sensors for use in its own proprietary SMT inspection systems and for sale to original equipment manufacturers. CyberOptics Corp has a market cap of $143.120 million; its shares were traded at around $20.22 with a P/E ratio of 51.85 and P/S ratio of 2.43.

For the last quarter CyberOptics Corp reported a revenue of $18.1 million, compared with the revenue of $13.18 million during the same period a year ago. For the latest fiscal year the company reported a revenue of $64.7 million, an increase of 21.4% from last year. For the last five years CyberOptics Corp had an average revenue growth rate of 12.8% a year.

The reported diluted earnings per share was 39 cents for the year, an increase of 105.3% from previous year. The CyberOptics Corp had an operating margin of 5.19%, compared with the operating margin of 1.9% a year before. The 10-year historical median operating margin of CyberOptics Corp is -4.22%. The profitability rank of the company is 5 (out of 10).

At the end of the fiscal year, CyberOptics Corp has the cash and cash equivalents of $9.25 million, compared with $6.94 million in the previous year. The company had no long term debt. CyberOptics Corp has a financial strength rank of 7 (out of 10).

At the current stock price of $20.22, CyberOptics Corp is traded at 74.6% premium to its historical median P/S valuation band of $11.58. The P/S ratio of the stock is 2.43, while the historical median P/S ratio is 1.39. The stock gained 9.92% during the past 12 months.

For the complete 20-year historical financial data of CYBE, click here.

Top Performing Stocks To Buy Right Now

tags:TPRE,WPP,VRX,

Apple shares are sitting in correction territory, down 10 percent from their March highs, but one technician says the tech giant is ripe for a breakout when it reports earnings after the bell on Tuesday.

"Obviously things move on earnings, I'm going to bet that [Apple's move] is going to be to the upside," Carter Worth of Cornerstone Macro said Monday on CNBC's "Fast Money."

Apple has been underperforming the broader market and the S&P technology sector in 2018. Shares of the tech giant are down 2.4 percent, while the S&P 500 is down 1 percent and the tech sector is up more than 3 percent this year.

Top Performing Stocks To Buy Right Now: Third Point Reinsurance Ltd.(TPRE)

Advisors' Opinion:
  • [By Max Byerly]

    Third Point Reinsurance (NYSE:TPRE) was downgraded by research analysts at TheStreet from a “c” rating to a “d+” rating in a report released on Thursday.

  • [By Ethan Ryder]

    Third Point Reinsurance (NYSE:TPRE) was upgraded by analysts at ValuEngine from a sell rating to a hold rating.

    Ternium (NYSE:TX) was upgraded by analysts at ValuEngine from a strong sell rating to a sell rating.

  • [By Stephan Byrd]

    Cincinnati Financial (NASDAQ:CINF) and Third Point Reinsurance (NYSE:TPRE) are both finance companies, but which is the better stock? We will compare the two businesses based on the strength of their institutional ownership, risk, valuation, earnings, analyst recommendations, profitability and dividends.

Top Performing Stocks To Buy Right Now: Wausau Paper Corp.(WPP)

Advisors' Opinion:
  • [By ]

    Embattled WPP Group (WPP) CEO Martin Sorrell, no stranger to business news channels and fat annual compensation checks, has quit as CEO. Below is a statement from Sorrell obtained by TheStreet.

  • [By Joseph Griffin]

    Suntrust Banks Inc. bought a new position in Wpp Plc (NYSE:WPP) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 7,349 shares of the business services provider’s stock, valued at approximately $583,000.

  • [By Lisa Levin] Gainers Bio-Path Holdings, Inc. (NASDAQ: BPTH) shares rose 29.5 percent to $2.15 in pre-market trading after reporting pre-clinical data demonstrating potential of Prexigebersen presented at the annual American Association for Cancer Research meeting in Chicago. Sientra, Inc. (NASDAQ: SIEN) rose 16.7 percent to $12.90 in pre-market trading following the announcement of FDA approval for PMA supplement. Aqua Metals, Inc. (NASDAQ: AQMS) rose 13.5 percent to $2.95 in pre-market trading after climbing 14.04 percent on Wednesday. Harmony Gold Mining Company Limited (NYSE: HMY) rose 5.6 percent to $2.09 in pre-market trading. Alcoa Corporation (NYSE: AA) shares rose 5 percent to $62.32 in pre-market trading after the company reported better-than-expected earnings for its first quarter and raised its FY18 adjusted EBITDA outlook. Gold Fields Limited (ADR) (NYSE: GFI) shares rose 4.9 percent to $4.11 in pre-market trading after gaining 1.03 percent on Wednesday. ABB Ltd (NYSE: ABB) shares rose 4.3 percent to $24.47 in pre-market trading after reporting Q1 results. WPP plc (NYSE: WPP) rose 4.2 percent to $82.99 in pre-market trading. American Express Company (NYSE: AXP) rose 4 percent to $98.95 in pre-market trading after the company reported stronger-than-expected profit for its first quarter. HSBC Holdings plc (NYSE: HSEA) rose 3.4 percent to $27.30 in pre-market trading. Shire plc (NASDAQ: SHPG) rose 3.4 percent to $167.95 in pre-market trading. Takada offered to buy Shire at £46.50 per share, Reuters reported. Vipshop Holdings Limited (NYSE: VIPS) rose 3.1 percent to $16.43 in pre-market trading. iRobot Corporation (NASDAQ: IRBT) shares rose 3 percent to $63.66 in the pre-market trading session.

    Find out what's going on in today's market and bring any questions you have to Benzinga's PreMarket Prep.

  • [By Ethan Ryder]

    WPP (LON:WPP) had its price target lowered by Deutsche Bank AG from GBX 1,510 ($19.48) to GBX 1,430 ($18.45). The firm currently has a hold rating on the stock.

  • [By Shane Hupp]

    WPP (NYSE:WPP) was downgraded by analysts at Pivotal Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday, Marketbeat reports.

Top Performing Stocks To Buy Right Now: Valeant Pharmaceuticals International Inc(VRX)

Advisors' Opinion:
  • [By Shane Hupp]

    Korea Investment CORP cut its position in shares of Valeant Pharmaceuticals (NYSE:VRX) (TSE:VRX) by 46.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 126,736 shares of the specialty pharmaceutical company’s stock after selling 109,300 shares during the quarter. Korea Investment CORP’s holdings in Valeant Pharmaceuticals were worth $2,948,000 at the end of the most recent reporting period.

  • [By ]

    Other recent false "tells" of "unusual call activity" have included Lowe's (LOW) , Valeant Pharmaceuticals (VRX) , Walmart (WMT) and Walt Disney Co. (DIS) . All of these stocks tanked within one or two weeks of the unusual call trading.

  • [By Lisa Levin] Gainers Euro Tech Holdings Company Limited (NASDAQ: CLWT) shares climbed 70.3 percent to $5.45 after reporting 2017 year-end results. MEDIGUS Ltd/S ADR (NASDAQ: MDGS) surged 39.8 percent to $1.58 in reaction to its Monday announcement of a distribution agreement. The medical device company said it reached an agreement to distribute its minimally invasive medical devices in Turkey, Azerbaijan and Georgia. Arcadia Biosciences, Inc. (NASDAQ: RKDA) gained 25.6 percent to $11.50. Arcadia Biosciences reported that Albert D. Bolles, Ph.D. has joined its board of directors. Aytu Bioscience Inc (NASDAQ: AYTU) shares jumped 21.8 percent to $0.4798 after the company late Monday reported lighter-than-expected Q1 loss. Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) shares gained 21.1 percent to $26.77 following Q3 results. Pfenex Inc. (NYSE: PFNX) rose 16.8 percent to $7.1271 after the company announced the positive top-line PF708 study results in Osteoporosis patients that showed no imbalances in severity or incidence of adverse events. MEI Pharma, Inc. (NASDAQ: MEIP) rose 13.8 percent to $2.88. Red Violet, Inc. (NASDAQ: RDVT) jumped 13.1 percent to $6.41 after reporting Q1 results. SORL Auto Parts, Inc. (NASDAQ: SORL) shares gained 12 percent to $5.87 after reporting upbeat Q1 results. Bovie Medical Corporation (NYSE: BVX) gained 8.4 percent to $3.96 after reporting a first-quarter sales beat. Rosehill Resources Inc. (NASDAQ: ROSE) surged 8.4 percent to $7.90 after announcing Q1 results. LiqTech International, Inc. (NASDAQ: LIQT) rose 8.1 percent to $0.5171 following Q1 results. ProPhase Labs, Inc. (NASDAQ: PRPH) rose 7.7 percent to $5.6103 following Q1 results. Nine Energy Service, Inc. (NYSE: NINE) shares climbed 7.4 percent to $35.90. Xenon Pharmaceuticals Inc. (NASDAQ: XENE) rose 6.7 percent to $6.40 after the company presented XEN901 Phase 1 clinical update and XEN1101 TMS pharmacodynamic Phase 1 data. MYnd
  • [By ]

    In the Lightning Round, Cramer was bullish on Salesforce.com (CRM) , American Airlines (AAL) , Align Technology (ALGN) , Procter & Gamble (PG) , United Bankshares (UBSI) , Valeant Pharmaceuticals (VRX) and Dominion Energy (D) .

  • [By Chris Lange]

    Valeant Pharmaceuticals International Inc. (NYSE: VRX) will report its most recent quarterly results on Tuesday as well. The consensus estimates call for $0.60 in EPS and $1.95 billion in revenue. Shares were last seen trading at $18.01, in a 52-week range of $9.70 to $24.43. The consensus price target is $17.03.

Tuesday, March 12, 2019

Top Biotech Stocks To Watch For 2019

tags:GAS,BME,NTG,

Momenta Pharmaceuticals (NASDAQ:MNTA) issued its quarterly earnings results on Tuesday. The biotechnology company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.15), Morningstar.com reports. The firm had revenue of $4.85 million for the quarter, compared to the consensus estimate of $15.63 million. Momenta Pharmaceuticals had a negative net margin of 63.43% and a negative return on equity of 23.62%. The business’s revenue for the quarter was down 81.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.46) earnings per share.

Shares of MNTA traded up $0.70 during mid-day trading on Tuesday, reaching $21.40. The company’s stock had a trading volume of 825,300 shares, compared to its average volume of 853,923. The firm has a market capitalization of $1.60 billion, a P/E ratio of -17.83 and a beta of 1.63. Momenta Pharmaceuticals has a 1 year low of $11.85 and a 1 year high of $21.75.

Top Biotech Stocks To Watch For 2019: AGL Resources, Inc.(GAS)

Advisors' Opinion:
  • [By Stephan Byrd]

    Gas (CURRENCY:GAS) traded 12.9% higher against the U.S. dollar during the 1-day period ending at 22:00 PM ET on July 2nd. Gas has a market cap of $117.83 million and approximately $5.75 million worth of Gas was traded on exchanges in the last day. One Gas token can now be bought for approximately $11.63 or 0.00175551 BTC on exchanges including Cobinhood, Koinex, DragonEX and Binance. Over the last week, Gas has traded 10.4% higher against the U.S. dollar.

  • [By Max Byerly]

    Gas (CURRENCY:GAS) traded down 0.2% against the U.S. dollar during the 1 day period ending at 21:00 PM E.T. on May 19th. Over the last seven days, Gas has traded 10.8% lower against the U.S. dollar. Gas has a total market capitalization of $228.89 million and $5.00 million worth of Gas was traded on exchanges in the last day. One Gas token can currently be bought for $22.60 or 0.00274789 BTC on major exchanges including Abucoins, OKEx, Bitbns and Coinnest.

Top Biotech Stocks To Watch For 2019: Blackrock Health Sciences Trust(BME)

Advisors' Opinion:
  • [By Max Byerly]

    B&M European Value Retail (LON:BME) had its target price boosted by analysts at HSBC from GBX 470 ($6.26) to GBX 500 ($6.66) in a report released on Wednesday. The brokerage presently has a “buy” rating on the stock. HSBC’s price objective indicates a potential upside of 21.54% from the company’s current price.

  • [By Logan Wallace]

    Shares of BME traded up $0.60 during midday trading on Monday, hitting $40.92. The company had a trading volume of 34,700 shares, compared to its average volume of 35,130. Blackrock Health Sciences Trust has a 52 week low of $32.00 and a 52 week high of $44.00.

    TRADEMARK VIOLATION WARNING: “Blackrock Health Sciences Trust Declares Monthly Dividend of $0.20 (BME)” was originally published by Ticker Report and is the sole property of of Ticker Report. If you are reading this report on another publication, it was copied illegally and republished in violation of international copyright and trademark laws. The legal version of this report can be viewed at https://www.tickerreport.com/banking-finance/4125742/blackrock-health-sciences-trust-declares-monthly-dividend-of-0-20-bme.html.

    About Blackrock Health Sciences Trust

  • [By Logan Wallace]

    Shares of B&M European Value Retail SA (LON:BME) have been assigned an average recommendation of “Buy” from the sixteen research firms that are currently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is GBX 451.36 ($5.88).

  • [By Stephan Byrd]

    Shares of B&M European Value Retail SA (LON:BME) have earned an average recommendation of “Buy” from the sixteen ratings firms that are covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is GBX 442.92 ($5.90).

Top Biotech Stocks To Watch For 2019: Tortoise MLP Fund, Inc.(NTG)

Advisors' Opinion:
  • [By Shane Hupp]

    Shares of Northgate plc (LON:NTG) have received an average rating of “Buy” from the six brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is GBX 523.25 ($6.67).

Saturday, March 9, 2019

Zacks: Brokerages Expect Affiliated Managers Group, Inc. (AMG) Will Post Quarterly Sales of $530.91

Brokerages expect Affiliated Managers Group, Inc. (NYSE:AMG) to post $530.91 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Affiliated Managers Group’s earnings, with estimates ranging from $514.12 million to $553.60 million. Affiliated Managers Group reported sales of $612.40 million in the same quarter last year, which indicates a negative year over year growth rate of 13.3%. The business is expected to announce its next quarterly earnings results on Monday, April 29th.

According to Zacks, analysts expect that Affiliated Managers Group will report full year sales of $2.19 billion for the current financial year, with estimates ranging from $2.14 billion to $2.23 billion. For the next financial year, analysts anticipate that the business will report sales of $2.30 billion, with estimates ranging from $2.29 billion to $2.32 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Affiliated Managers Group.

Get Affiliated Managers Group alerts:

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, February 4th. The asset manager reported $3.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $0.02. The company had revenue of $564.40 million for the quarter, compared to analyst estimates of $568.99 million. Affiliated Managers Group had a net margin of 10.24% and a return on equity of 18.11%. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter last year, the firm earned $4.68 EPS.

A number of brokerages recently weighed in on AMG. Jefferies Financial Group downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and set a $109.87 price target on the stock. in a research report on Tuesday, January 29th. Zacks Investment Research downgraded shares of Affiliated Managers Group from a “hold” rating to a “sell” rating in a research report on Monday, January 14th. Citigroup downgraded shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating in a research report on Monday, January 14th. Credit Suisse Group cut their price target on shares of Affiliated Managers Group from $162.00 to $123.00 and set a “neutral” rating on the stock in a research report on Monday, January 14th. Finally, Deutsche Bank downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $158.00 to $106.00 in a report on Thursday, January 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $132.12.

Shares of NYSE:AMG traded up $0.21 during mid-day trading on Wednesday, reaching $103.83. The stock had a trading volume of 558,980 shares, compared to its average volume of 538,063. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of 7.16, a P/E/G ratio of 0.83 and a beta of 1.42. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.29 and a quick ratio of 0.42. Affiliated Managers Group has a twelve month low of $88.46 and a twelve month high of $197.03.

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Thursday, February 14th were issued a dividend of $0.32 per share. This is an increase from Affiliated Managers Group’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Wednesday, February 13th. Affiliated Managers Group’s dividend payout ratio (DPR) is 8.83%.

In other Affiliated Managers Group news, Director Tracy P. Palandjian sold 1,694 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $110.64, for a total transaction of $187,424.16. Following the sale, the director now directly owns 4,291 shares in the company, valued at approximately $474,756.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.91% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of AMG. Kiltearn Partners LLP bought a new position in shares of Affiliated Managers Group during the 4th quarter worth approximately $81,521,000. Clarkston Capital Partners LLC bought a new position in shares of Affiliated Managers Group during the 4th quarter worth approximately $54,384,000. Norges Bank bought a new position in shares of Affiliated Managers Group during the 4th quarter worth approximately $45,931,000. Two Sigma Investments LP grew its stake in shares of Affiliated Managers Group by 189.3% during the 4th quarter. Two Sigma Investments LP now owns 531,567 shares of the asset manager’s stock worth $51,796,000 after acquiring an additional 347,822 shares in the last quarter. Finally, Ceredex Value Advisors LLC grew its stake in shares of Affiliated Managers Group by 61.4% during the 3rd quarter. Ceredex Value Advisors LLC now owns 658,050 shares of the asset manager’s stock worth $89,969,000 after acquiring an additional 250,225 shares in the last quarter. 94.26% of the stock is owned by institutional investors.

About Affiliated Managers Group

Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.

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Earnings History and Estimates for Affiliated Managers Group (NYSE:AMG)

Friday, March 8, 2019

Celldex Therapeutics, Inc (CLDX) Q4 2018 Earnings Conference Call Transcript

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Image source: The Motley Fool.

Celldex Therapeutics, Inc. (NASDAQ:CLDX)Q4 2018 Earnings Conference CallMarch 7, 2019, 4:30 p.m. ET

Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks:

Operator

Good day, ladies and gentlemen, and welcome to the Celldex Therapeutics Year End 2018 Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question and answer session and instructions will follow at that time. If anyone should require assistance during the conference, please press *0 on your touch-tone telephone. As a reminder, this call is being recorded. I would now like to introduce your host for today's conference, Sarah Cavanaugh, Senior Vice President of Corporate Affairs. Ma'am, you may begin.

Sarah Cavanaugh -- Senior Vice President, Corporate Affairs and Administration

Thank you. Good afternoon and thank you for joining us. With me on the call today are Anthony Marucci, Co-Founder, President, and CEO of Celldex; Dr. Tibor Keler, Co-Founder, Executive Vice President, and Chief Scientific Officer; and Sam Martin, Senior Vice President and Chief Financial Officer.

Before we begin our discussion, I'd like to mention that today's speakers will be making forward-looking statements. Such statements reflect on current views with respect to future events and are based on assumptions and subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Certain of the factors that might cause Celldex's actual results to differ materially from those in the forward-looking statements include those set forth under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operation" in Celldex's annual report on Form 10-K, quarterly reports on Form 10-Q, and its current reports on Form 8-K, as well as those described in Celldex's other filings with the SEC and its press releases.

All forward-looking statements are expressly qualified in their entirety by this cautionary notice. You should carefully review all of these factors and be aware that there may be other factors that could cause these differences. These forward-looking statements are based on information, plans, and estimates as of this call, and Celldex does not promise to update any forward-looking statements to reflect changes in underlying assumptions or factors, new information, future events, or other changes.

Please be advised that the question and answer period will be held at the end of the call. I'd now like to the call over to Anthony.

Anthony Marucci -- Co-Founder, President, Chief Executive Officer, and Director

Thank you, Sarah. Good afternoon and thank you for joining us. On today's call, I will provide a review of our business and an update of our clinical programs, specifically the ongoing Celldex-led studies of CDX-1140 and CDX-3379. As you'll likely read in this afternoon's press release, we will have a number of preclinical programs that we will be presenting data on in 2019, and I've asked Tibor to walk you through these efforts and how they fit into the larger clinical development strategy. Sam will then review the financials, and we'll close with your questions.

As we look at the business overall, our pipeline remains strong and well-diversified. We have two programs in the clinic and continue to execute on our development strategy to file a new IND every 12-18 months. We've made a series of difficult but necessary decisions over the last year as we've focused on extending and directing our financial resources to the advancement of the programs we believe can bring the most value to both patients and shareholders, and we thank you for your continued support. As we look forward to the future, we believe we are all well-positioned for potential success and look forward to a productive year.

Let me first start with an update of CDX-1140. This is a full human antibody targeted to CD40, a key activator of immune response, which is found on dendritic cells, macrophages, B cells, and several cancer types. Potent CD40 agonist antibodies have shown encouraging results in early clinical studies; however, systemic toxicity associated with broad CD40 activation has limited their dosing. We selected CDX-1140 based on its unique properties relative to other CD40 agonist antibodies. It binds to the CD40 receptor in a manner that results in a linear dose-dependent agonist activity, which may allow for higher systemic dosing and better tumor penetration at the optimal agonist levels. CDX-1140 does not require cross-linking through Fc receptor interactions for its agonist activity, allowing more consistent and controlled immune cell activation.

Also, CDX-1140 does not interfere with the natural activation of CD40 by its ligand, which may further potentiate local immune response. Finally, CDX-1140 has a remarkably good safety profile while demonstrating potent immune activation in our pre-clinical studies. The ongoing Phase 1 trial is a multidose dose-escalation study of CDX-1140 in patients with recurrent, locally advanced or metastatic solid tumors and B-cell lymphomas.

An important goal of the study is to achieve dosing levels that will provide good, systemic exposure without dose-limiting toxicity. We believe the relatively low doses of the other potent CD40 agonist antibodies tested in the clinic to date may limit their potential in modifying the tumor microenvironment. We have made great progress so far. Six cohorts have been completed, and we are now enrolling the seventh cohort in which patients are dosed at 1.5 mg/kg of CDX-1140, a dose significantly higher than other agonists targeting CD40s. Assuming we successfully complete this cohort, we will enroll the eighth cohort dosing at 3 mg/kg of CDX-1140.

Data to date from these cohorts suggest that CDX-1140 has a desirable safety profile without any dose-limiting toxicities and based on biomarker data is demonstrating clear signs of biological activity associated with CD40 activation. The main target cells of CDX-1140 are dendritic cells, which are the key cells for initiating anti-tumor immune responses. However, studies have shown that many patients are lacking in these cells. Our CDX-301 is a recombinant dendritic cell growth factor known also as C Flt3 Ligand. It has been clinically shown to greatly increase the number of dendritic cells in patients, leading to more potent immune responses. Therefore, we have included CDX-301 in a separate arm of this Phase 1 study as a priming agent to increase the number of dendritic cells available to respond to CDX-1140. Study participants receive a fixed dose of CDX-301 and increasing doses of CDX-1140.

We are nearing the close of the VLT window for the second of six potential cohorts right now. While this is still very early in the study, preliminary evidence of enhanced immune activation has been observed without additional safety concerns. Our goal in this study is to identify the recommended dose and regimen of CDX-1140 with or without CDX-301. The study allows for expansion cohorts and specific tumor types that will help define our regimen for additional accommodation therapies such as with Varlilumab in B-cell lymphomas, which has looked promising in pre-clinical models. We're excited about the CDX-1140 program and its clinical potential. We presented data from this study at SITC in late November and look forward to updating that presentation at AACR in early April.

Our next program is CDX-3379, a monoclonal antibody targeting ErbB3, which is also called HER3. ErbB3 is found on tumor cells in a variety of cancers, including head and neck, thyroid, breast, lung, and gastric cancers, as well as melanoma. It is implicated in cancer cell growth and survival as well as resistance to targeted therapies. CDX-3379 may play an important role in overcoming this resistance and specifically targets ErbB3 with potent affinity and locks it into a deactivated state, uniquely blocking its interactions with its ligand and also with other oncogenic drivers.

In a previously completed Phase 1 study, we saw evidence of anti-tumor activity among the nine patients with head and neck cancer who were treated with CDX-3379 in combination with Erbitux, an EGFR inhibitor, including a durable complete response in a patient who had previously progressed on Erbitux as a model therapy.

We recently completed enrollment to the first stage of a Simon two-stage design Phase 2 study. CDX-3379 is being given in combination with Erbitux in patients with HPV-negative, advanced head and neck squamous cell carcinomas whose tumors have previously been treated with an anti-PD-1 check point inhibitor and have become resistant to Erbitux. In accordance to the study design, if at least one of the 13 patients enrolled in the first stage achieves a partial response, enrollment can progress to the second stage. While a durable, confirmed, complete response has been documented, we will conduct a comprehensive review including the full data set before making decisions on future development as patients are still undergoing treatment and are eligible for evaluation. We plan to present updated data from this study at a medical meeting later this year.

Beyond our clinical stage programs, we have been actively advancing a portfolio of unique pre-clinical antibodies and bispecific molecules. These candidates are being developed for use in strategic combinations that engage the human immune system to treat specific types of cancer or other diseases.

In 2019, you'll see data from a number of these programs, and we thought it would be helpful to highlight a few of them on this call, so I will turn the call over to Tibor. Tibor?

Tibor Keler, Ph.D. -- Co-Founder, Executive Vice President, and Chief Scientific Officer

Thank you, Anthony. I'm going to expand on the three pre-clinical programs you referenced, CDX-0159, our KIT inhibitor, CDX-527, our first bispecific antibody, and our growing programs targeting the TAM tyrosine kinase receptors. Data on both the bispecific and the TAM programs will be presented at AACR next month.

We are currently progressing our KIT antagonist antibody program, CDX-0159, through IND-enabling studies to support the initiation of the clinical program. KIT is a key regulator of mast cell survival and activation, and we believe targeting KIT represents a unique strategy in diseases involving mast cells. CDX-0159 is a humanized monoclonal antibody and a very potent inhibitor of KIT in mast cells, and collectively, our data support that CDX-0159 can reduce the number and activity of mast cells, which may provide clinical benefit to patients with diseases that are driven by mast cells, such as chronic idiopathic urticaria and neurofibromatosis type 1.

Our initial clinical strategy is to define the safety, pharmacokinetic and pharmacodynamic profile in healthy subjects, followed by a focused study design in patients. As we get closer to initiating clinical development anticipated later this year, we look forward to providing more detail on the specific clinical path.

Our first bispecific antibody program called CDX-527 combines CD27-mediated T cell activation with PD-1 blockade. We have developed CDX-527 from our proprietary highly active anti-PD-L1 and CD27 human antibodies, and we've demonstrated that the bispecific is more potent than the combination of the individual antibodies in multiple pre-clinical models. Our experience with combining Varlilumab and PD-1 blockades supports the integration of these two antibodies from a dosing, safety, and activity perspective in recurrently initiating manufacturing activities for the bispecific CDX-527.

We have also been making significant progress on developing lead candidates for the receptor tyrosine kinases, collectively known as TAMs for Tyro3, Axl, and MerTK. These receptors have been gaining importance in the immunotherapy field due to their role as checkpoint molecules on macrophages, dendritic cells, and other immune cells where they can negatively regulate anti-tumor immunity. Our most advanced program is targeting MerTK where we have demonstrated that antibody targeting of MerTK in mice elicits an inflammatory cytokine response and had anti-tumor activity when dosed alone or in combination with an anti-PD-1 inhibitor. Our lead human antibodies promote potent activation of human macrophages and dendritic cells, and we look forward to continuing the progress on these candidates.

I'd now like to hand the call over to Sam to review the financials.

Sam Martin -- Senior Vice President and Chief Financial Officer

Thank you, Tibor. All of the following share have been per-share amounts, reflect a one for fifteen reverse stock split, which became effective February 8th, 2019. For the fourth quarter of 2018, net loss was $9.4 million, or $0.81 per share, compared to a net loss of $3.8 million, or $0.42 per share, for the fourth quarter of 2017. Net loss for the year ended December 31st, 2018 was $151.2 million, or $14.48 per share, compared to $93 million, or $10.86 per share, for the comparable period in 2017.

During 2018, we recorded $91 million in non-cash goodwill impairment expense. Research and development expenses were $66.4 million for the year ended December 31st, 2018, compared to $96.2 million for the comparable period in 2017. General and administrative expenses were $19.3 million for the year ended December 31st, 2018, compared to $25 million for the comparable period in 2017.

As of December 31st, 2018, we reported cash, cash equivalents, and marketable securities of $94 million. We expect that our cash, cash equivalents, and marketable securities at December 31st, 2018 combined with the anticipated proceeds from future sales of common stock under our Cantor agreement are sufficient to meet estimated working capital requirements and fund planned operations through 2020. At December 31st, 2018, we had 12 million shares outstanding.

I will now turn the call over to Anthony to close.

Anthony Marucci -- Co-Founder, President, Chief Executive Officer, and Director

Thank you, Sam. As we have said on past calls, we remain focused on execution. For CDX-1140, we will continue to enroll the Phase 1 study, and determine the optimal dose, and are actively mapping out future plans for both single agent and combination expansions arms in specific tumor types at the specified dose. We continue to believe we are nearing a point where we should have a good understanding of the important role of CDX-1140 can potentially play in the treatment of cancer. For CDX-3379, we need to let the first stage of the study complete, and then we'll conduct a comprehensive review to determine next steps for the program. Finally, for CDX-0159, our anti-KIT antibody, we would anticipate initiating a Phase 1 study following completion of the IND-enabling work.

In the near term, we are slated for four presentations at AACR, one on our ongoing Phase 1 study of CDX-1140, one on our bispecific candidate CDX-527, and third, on the MerTK, Axl, and Tyro3 antibody program, and a fourth that covers a pre-clinic collaboration of CDX-1140, CDX-301, and a TOR-9 agonist, so we're off to a busy, data-filled start to the year.

...

With that review, we'll open the floor to questions. Operator?

Questions and Answers:

Operator

Thank you. Ladies and gentlemen, if you would like to ask a question at this time, please press *1 on your touch-tone telephone. If your question has been answered or you wish to remove yourself from the queue, please press the # key.

And your first question comes from Joe Pantginis with H.C. Wainwright. Your line is open.

Joseph Pantginis, Ph.D. -- H.C. Wainwright & Co. -- Senior Healthcare Analyst

Hey, guys, good afternoon and thanks for the additional details today. A few questions if you don't mind, maybe the first one for Tibor. With regard to CDX-527, you did mention that you're seeing increased potency versus the individual antibody, so I'm just curious first do you see any potential safety differentiation, and then also, do you attribute some of this potential increased potency based on just increased localization because of the bispecific nature?

Tibor Keler, Ph.D. -- Co-Founder, Executive Vice President, and Chief Scientific Officer

Hi, Joe. Thank you for the question. So, regarding the safety issue, there's nothing that we have in our data so far that leads us to any concerns of any added safety concerns. As you know, we have significant amount of clinical data from combining varlilumab, our CD27 agonist, with nivolumab, and we've demonstrated that there really is no additional safety concerns when those two are combined compared to the individual components.

In terms of the activity, we believe that at least part of the additional activity of the bispecific is due to better CD27 co-stimulation when the bispecific antibody is crosslinked not only through Fc receptors but also by PD-L1 binding. This leads to more potent CD27 activation, and as you've mentioned, I agree that this may occur predominately in the tumor microenvironment where PD-L1 expression can be upregulated. Does that address --

Joseph Pantginis, Ph.D. -- H.C. Wainwright & Co. -- Senior Healthcare Analyst

Got it. Yup, it absolutely does. Thanks, Tibor. And then just out of curiosity, not in any particular order, so maybe just a little more detail of the types of things you'll be looking at with the CDX-3379 data. You're being very deliberate and cautious, obviously, even though you've hit the hurdle in Stage 1 to be able to move to Stage 2, so beyond just additional responses, what additional things might you be looking at?

Tibor Keler, Ph.D. -- Co-Founder, Executive Vice President, and Chief Scientific Officer

So, in addition to clearly understanding fully the clinical data and the response data, we're certainly looking at comprehensive biomarker analysis, understanding what's happening in the field of head and neck cancer that is having some changes in the paradigms, so all of that will go into our decision about what the best approach for the next steps are.

Joseph Pantginis, Ph.D. -- H.C. Wainwright & Co. -- Senior Healthcare Analyst

Got it. Got it. And then with regard to the CDX-1140 program, I don't know if it's too early to maybe ask if you have a favorite with regard to expansion indications yet, but I'll ask. Off of the SITC data in late 2018, as you continue to increase the dose cohorts, what level of activity from a biomarker standpoint are you waiting to see to say you have reached the right dosing cohort or the right dose?

Tibor Keler, Ph.D. -- Co-Founder, Executive Vice President, and Chief Scientific Officer

So, the biomarker data that we have available through the dose escalation is primarily based on the serum biomarkers, which is what we're collecting, which are quite informative. But the most informative will come from biopsies that we're taking to really understand how we're modifying the tumor microenvironment. We are just not entering this phase with some backfill patients that will help because those on-study biopsies are mandatory, so the combination of the tumor biopsy and serum biomarkers will help inform the best data to know that we are truly modifying the tumor microenvironment, which is the goal with this program.

Joseph Pantginis, Ph.D. -- H.C. Wainwright & Co. -- Senior Healthcare Analyst

Got it. And then just lastly if you don't mind, thanks for your patience, with CDX-1140, I guess maybe you've done this in the past, but can you remind us and other people on the call maybe why the safety profile here again appears to be differentiated versus other anti-CD40 approaches?

Tibor Keler, Ph.D. -- Co-Founder, Executive Vice President, and Chief Scientific Officer

So, for us, we wanted to select an antibody that could achieve higher systemic exposure. We are seeing some of the same changes that you might expect with any of the CD40 agonists. They are more moderate, particularly at the low doses, than perhaps observed so far, so as Anthony mentioned, it's this linear dose response that we have with this particular antibody compared to some of the other agonists that have been optimized for very high agonist activity, even at very low doses.

Joseph Pantginis, Ph.D. -- H.C. Wainwright & Co. -- Senior Healthcare Analyst

Got it. Thanks for the added details, Tibor.

Tibor Keler, Ph.D. -- Co-Founder, Executive Vice President, and Chief Scientific Officer

Sure.

Operator

Thank you. And I am showing no further questions at this time. I'd like to turn the call back over to Anthony Marucci, President and CEO, for closing remarks.

Anthony Marucci -- Co-Founder, President, Chief Executive Officer, and Director

Thank you, operator, and thanks to everyone joining us today. We appreciate your time and support, and we look forward to keeping you up to date throughout 2019. And as always, we welcome your questions at any time. Have a great day.

...

Operator

Ladies and gentlemen, thank you for participating in today's conference. This does conclude the program and you all may disconnect. Everyone, have a wonderful day.

Duration: 23 minutes

Call participants:

Sarah Cavanaugh -- Senior Vice President, Corporate Affairs and Administration

Anthony Marucci -- Co-Founder, President, Chief Executive Officer, and Director

Tibor Keler, Ph.D. -- Co-Founder, Executive Vice President, and Chief Scientific Officer

Sam Martin -- Senior Vice President and Chief Financial Officer

Joseph Pantginis, Ph.D. -- H.C. Wainwright & Co. -- Senior Healthcare Analyst

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This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.

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Thursday, March 7, 2019

Larsen & Toubro gains as hydrocarbon engineering segment bags significant contract from ONGC

Larsen & Toubro shares rose a percent in morning on Friday after its hydrocarbon engineering segment bagged a significant contract from ONGC.

The stock was quoting at Rs 1,357.45, up Rs 6.20, or 0.46 percent on the BSE, at 09:40 hours IST.

"The engineering, procurement, construction, installation and commissioning (EPCIC) contract is for development of Cluster-8 marginal field which is part of Mumbai High Asset located about 210 km to the west of Mumbai city," the engineering major said in its filing.

Project scope includes EPCIC of three (03 Nos.) well head platforms, one (01 No.) bridge connected well head cum riser platform, -59 km pipelines, 3 nos. of clamp-on structure and modification work on two existing platforms.

Organised under offshore, onshore, construction services, modular fabrication and engineering services verticals, L&T Hydrocarbon Engineering delivers 'design to build' engineering and construction solutions across the hydrocarbon spectrum. First Published on Mar 8, 2019 09:51 am

Wednesday, March 6, 2019

Why Acadia Pharmaceuticals Stock Perked Up in February

What happened

Acadia Pharmaceuticals (NASDAQ:ACAD), a mid-cap biopharma, continued its recent rebound last month as its stock gained a healthy 16.5%, according to data from S&P Global Market Intelligence. The drugmaker's shares perked up in late February after the release of its upbeat fourth-quarter and full-year earnings report. 

A businessman turning a red, downward pointing arrow upwards.

Image source: Getty Images.

So what

Acadia's stock collapsed last year as the result of a CNN report questioning the safety of its Parkinson's disease psychosis medication Nuplazid. Since the start of 2019, however, the stock has regained a big chunk of this lost ground, thanks to the Food and Drug Administration reaffirming Nuplazid's risk-to-reward profile last September. The big deal is that Nuplazid no longer appears to be at risk of being pulled from the market over safety issues. 

Now what

Can Acadia's stock fly even higher? The answer appears to be tied to the progress of the company's late-stage clinical pipeline. Acadia is slated to announce the top-line results for Nuplazid's late-stage schizophrenia trial by midyear. This schizophrenia study, in kind, will probably set the tone around the stock for the remainder of the year.

Investors are clearly expecting Nuplazid to branch out into multiple, high-value indications. As proof, the biopharma's shares already sport one of the richest valuations within its peer group at over 13 times this year's projected sales. The take-home point is that Acadia can arguably ill afford a clinical setback at this stage; otherwise, its top-shelf valuation may vanish in the blink of an eye.

Tuesday, March 5, 2019

3 Things Aurora Cannabis Does Better Than Other Weed Growers

There's been no industry hotter to start the new year than marijuana. Now a legitimate business model following the legalization of adult-use cannabis in Canada this past October, the highly followed Horizons Marijuana Life Sciences ETF, which holds around four dozen pot stocks, is up 60% year to date through the end of February.

Of course, the basket approach has taken a back seat to a number of top-performing individual pot stocks, such as Aurora Cannabis (NYSE:ACB). Since uplisting from the over-the-counter exchange to the New York Stock Exchange in October, Aurora Cannabis has gained quite the following of optimists. Recently, it surpassed Apple to become the most widely held stock on free online trading app Robinhood, which is extremely popular with millennial investors.

Curious what it is about Aurora Cannabis that makes it such a popular stock to own? Well, it boils down to three things that the company simply does better than its weed-growing peers.

An up-close look at a flowering cannabis plant.

Image source: Getty Images.

1. It can out-produce any other company

Easily the biggest differentiating factor between Aurora Cannabis and every other pot company is its production capacity. According to more recent press releases from Aurora, management has been conservatively calling for "over 500,000 kilograms" in annual output, when running on all cylinders. But this is probably low-balling the company's capacity by a longshot.

Before its roughly $200 million purchase of South America's ICC Labs last year, and following its acquisition of Ontario-based MedReleaf, the company was touting peak production of roughly 570,000 kilos per year. Although ICC Labs doesn't bring a lot of immediate production to the mix, with 92,000 square feet of operational greenhouses, it had approximately 1.1 million square feet under construction at the time of the buyout. With most of Aurora's facilities averaging closer to 125 grams per square foot -- about 25% higher than the industry average -- this leads me to estimate up to 700,000 kilos in peak annual yield.

Just how much marijuana is this? Although production figures remain fluid with Health Canada continuing to work through its backlog to issue cultivation licenses and sales permits, it wouldn't be out of the question for Aurora to produce 15% to 20% of the total annual cannabis output from Canadian growers.

By comparison, the only remotely close competitor Aurora Cannabis has is Canopy Growth (NYSE:CGC), the largest pot stock by market cap. Canopy Growth has been tight-lipped with peak production estimates, but does have 5.6 million square feet of growing capacity, more than 4.3 million square feet of which is already licensed. Assuming industry average yields, Canopy Growth could see anywhere from 500,000 kilos to 550,000 kilos of annual peak yield. After that, it's a big drop-off to the No. 3 and No. 4 growers, Aphria and The Green Organic Dutchman, with 255,000 kilos and 195,000 kilos in respective projected annual production.

Having such impressive annual output should help Aurora nab long-term supply deals and make it a logical target for brand-name beverage, food, tobacco, or pharmaceutical industry companies looking for a partner.

A person holding cannabis leaves in front of a globe of the Earth.

Image source: Getty Images.

2. Its international reach is unparalleled

Last week, Aurora Cannabis announced that it had comes to terms with Gaia Pharm in Portugal to acquire a 51% interest in the company. This follows Gaia (soon to be renamed Aurora Portugal) receiving approval from the EU to construct a cannabis cultivation facility on Feb. 21, 2019. Although the facility will be relatively small in terms of peak output at 4,000 kilos a year, it nonetheless marks the 24th country that Aurora Cannabis has a growing or sales presence in. 

When compared to its peers, no other top weed grower comes anywhere near Aurora in terms of its international reach. Canopy Growth has operations in just over a dozen countries, whereas Aphria is around a dozen, and Cronos Group has far fewer than a dozen markets overseas where it has growing or sales ties.

What's the big deal about international markets? If Colorado, Washington, and Oregon in the U.S. serve as examples, dried cannabis flower tends to be oversupplied and commoditized over time. As production ramps up throughout Canada, it wouldn't be surprising to see supply outpacing demand by as early as 2021. To sell domestic excess supply, Canadian growers like Aurora will be looking to medically legal, but still nascent, overseas markets. With a presence in two dozen countries, Aurora has substantially reduced the likelihood that domestic oversupply will hurt its margins. The same can't be said for Cronos Group and a number of other producers.

A lab research wearing gloves while testing various cannabis products.

Image source: Getty Images.

3. It generates more in ancillary revenue than other pure-play growers

A third and final thing that Aurora does better than other growers is generate revenue from ancillary sources.

Now, I know what you're probably thinking, and you'd be right: there are other marijuana stocks that generate a boatload of ancillary revenue. An example would be Village Farms International, which has generated $111.2 million in sales from vegetable production through the first nine months of fiscal 2018. But Village Farms International, and these other pot stocks in question, aren't pure-play growers like Aurora Cannabis. If we want to stick to apples-to-apples comparisons, Aurora Cannabis generates more icing on the cake than its peers.

In Aurora's second-quarter operating results, it recorded nearly 47.6 million Canadian dollars in net cannabis revenue, with an additional CA$6.6 million derived from its ancillary businesses. These include Larssen, an engineering and construction firm for greenhouses that was acquired by Aurora in November 2017, patient counseling services, analytical testing services, and its horizontally integrated businesses. Net of excise tax revenue, ancillary sales accounted for 12.2% of sales in the fiscal second quarter. 

Although these secondary revenue channels will minimize over time (in terms of total sales percentage) as medical and recreational pot sales soar, they're providing more of a boost to Aurora than any other pot grower.

Monday, March 4, 2019

Phillips 66 (PSX) Shares Sold by Parisi Gray Wealth Management

Parisi Gray Wealth Management lowered its stake in shares of Phillips 66 (NYSE:PSX) by 45.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,205 shares of the oil and gas company’s stock after selling 4,251 shares during the period. Parisi Gray Wealth Management’s holdings in Phillips 66 were worth $442,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Moody National Bank Trust Division increased its position in shares of Phillips 66 by 425.4% during the 4th quarter. Moody National Bank Trust Division now owns 352 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 285 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Phillips 66 during the 4th quarter valued at about $37,000. Proficio Capital Partners LLC increased its position in shares of Phillips 66 by 46.1% during the 4th quarter. Proficio Capital Partners LLC now owns 434 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 137 shares during the last quarter. Truehand Inc purchased a new stake in shares of Phillips 66 during the 4th quarter valued at about $40,000. Finally, Massey Quick Simon & CO. LLC purchased a new stake in shares of Phillips 66 during the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 70.02% of the company’s stock.

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Shares of PSX opened at $97.48 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.28 and a debt-to-equity ratio of 0.43. Phillips 66 has a 1 year low of $78.44 and a 1 year high of $123.97. The company has a market cap of $44.90 billion, a price-to-earnings ratio of 8.32, a P/E/G ratio of 1.35 and a beta of 0.94.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, February 8th. The oil and gas company reported $4.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $2.11. Phillips 66 had a net margin of 4.90% and a return on equity of 22.18%. The business had revenue of $29.84 billion during the quarter, compared to analyst estimates of $35.51 billion. During the same period last year, the firm posted $1.07 EPS. Analysts forecast that Phillips 66 will post 8.47 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Tuesday, February 19th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend was Friday, February 15th. Phillips 66’s dividend payout ratio (DPR) is currently 27.33%.

Several equities research analysts have recently commented on the stock. Argus reduced their price target on shares of Phillips 66 to $116.00 and set a “buy” rating for the company in a research report on Thursday, February 14th. Tudor Pickering raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Friday, February 8th. Piper Jaffray Companies reissued an “overweight” rating on shares of Phillips 66 in a report on Thursday, January 10th. Raymond James reduced their target price on shares of Phillips 66 from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, December 31st. Finally, Jefferies Financial Group raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Thursday, December 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. Phillips 66 currently has a consensus rating of “Hold” and an average target price of $121.08.

In other Phillips 66 news, Chairman Greg C. Garland sold 42,728 shares of the stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $97.61, for a total transaction of $4,170,680.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.56% of the company’s stock.

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Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks, delivers refined products to market, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

Sunday, March 3, 2019

Los Angeles Capital Management & Equity Research Inc. Has $17.16 Million Holdings in Arthur J Ga

Los Angeles Capital Management & Equity Research Inc. reduced its stake in shares of Arthur J Gallagher & Co (NYSE:AJG) by 17.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 232,884 shares of the financial services provider’s stock after selling 50,106 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Arthur J Gallagher & Co were worth $17,164,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in AJG. Aperio Group LLC boosted its stake in Arthur J Gallagher & Co by 11.5% in the third quarter. Aperio Group LLC now owns 56,344 shares of the financial services provider’s stock valued at $4,194,000 after buying an additional 5,830 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Arthur J Gallagher & Co by 0.7% in the third quarter. Russell Investments Group Ltd. now owns 225,417 shares of the financial services provider’s stock valued at $16,782,000 after buying an additional 1,480 shares in the last quarter. CWM LLC boosted its stake in Arthur J Gallagher & Co by 85,410.0% in the third quarter. CWM LLC now owns 17,102 shares of the financial services provider’s stock valued at $1,273,000 after buying an additional 17,082 shares in the last quarter. Arizona State Retirement System boosted its stake in Arthur J Gallagher & Co by 2.4% in the third quarter. Arizona State Retirement System now owns 112,798 shares of the financial services provider’s stock valued at $8,397,000 after buying an additional 2,658 shares in the last quarter. Finally, WBI Investments Inc. acquired a new stake in Arthur J Gallagher & Co in the third quarter valued at about $1,760,000. 83.25% of the stock is currently owned by institutional investors.

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In other news, Director David S. Johnson sold 5,000 shares of Arthur J Gallagher & Co stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $79.37, for a total transaction of $396,850.00. Following the sale, the director now directly owns 48,728 shares of the company’s stock, valued at $3,867,541.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Walter D. Bay sold 13,800 shares of Arthur J Gallagher & Co stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $80.00, for a total value of $1,104,000.00. Following the sale, the general counsel now directly owns 26,084 shares in the company, valued at $2,086,720. The disclosure for this sale can be found here. Insiders have sold 19,900 shares of company stock worth $1,586,276 over the last three months. Insiders own 1.60% of the company’s stock.

AJG has been the topic of several research analyst reports. Barclays raised their price objective on Arthur J Gallagher & Co from $82.00 to $87.00 and gave the company an “overweight” rating in a research note on Monday, November 12th. Morgan Stanley raised their price objective on Arthur J Gallagher & Co from $71.00 to $77.00 and gave the company a “hold” rating in a research note on Wednesday, November 14th. Zacks Investment Research raised Arthur J Gallagher & Co from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research note on Tuesday, December 11th. Wells Fargo & Co reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Arthur J Gallagher & Co in a research note on Tuesday, December 11th. Finally, Keefe, Bruyette & Woods lowered Arthur J Gallagher & Co to a “market perform” rating in a research note on Thursday, December 13th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Arthur J Gallagher & Co currently has an average rating of “Buy” and a consensus target price of $79.56.

NYSE:AJG opened at $80.32 on Friday. Arthur J Gallagher & Co has a twelve month low of $64.54 and a twelve month high of $81.09. The stock has a market capitalization of $14.78 billion, a P/E ratio of 23.28, a price-to-earnings-growth ratio of 2.06 and a beta of 0.87. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.68.

Arthur J Gallagher & Co (NYSE:AJG) last announced its quarterly earnings results on Thursday, January 31st. The financial services provider reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.02. Arthur J Gallagher & Co had a return on equity of 14.03% and a net margin of 9.14%. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.61 billion. Equities analysts predict that Arthur J Gallagher & Co will post 3.85 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.14%. This is a positive change from Arthur J Gallagher & Co’s previous quarterly dividend of $0.41. The ex-dividend date is Thursday, February 28th. Arthur J Gallagher & Co’s dividend payout ratio (DPR) is presently 47.54%.

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Arthur J Gallagher & Co Company Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance brokerage, consulting, and third party claims settlement and administration services to entities in the United States and internationally. Its Brokerage segment consists of retail and wholesale insurance brokerage operations.

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Institutional Ownership by Quarter for Arthur J Gallagher & Co (NYSE:AJG)