Bronson Point Management Lifted Its Position in Devon Energy New (DVN) by $3.60 Million as Stock Value Declined; Adobe Sys (ADBE) Valuation Rose While Marsico Capital Management Trimmed Position

January 17, 2018 - By Winifred Garcia

Larry Foley increased its stake in Devon Energy Corp New (DVN) by 50% based on its latest 2017Q3 regulatory filing with the SEC. Bronson Point Management Llc bought 100,000 shares as the company’s stock declined 13.09% while stock markets rallied. The hedge fund run by Larry Foley held 300,000 shares of the oil & gas production company at the end of 2017Q3, valued at $11.01 million, up from 200,000 at the end of the previous reported quarter. Bronson Point Management Llc who had been investing in Devon Energy Corp New for a number of months, seems to be bullish on the $22.73 billion market cap company. The stock decreased 1.77% or $0.78 during the last trading session, reaching $43.26. About 5.63 million shares traded or 14.91% up from the average. Devon Energy Corporation (NYSE:DVN) has risen 13.24% since January 17, 2017 and is uptrending. It has underperformed by 3.46% the S&P500.

Marsico Capital Management Llc decreased its stake in Adobe Sys Inc (ADBE) by 2.59% based on its latest 2017Q3 regulatory filing with the SEC. Marsico Capital Management Llc sold 3,019 shares as the company’s stock rose 14.01% with the market. The institutional investor held 113,759 shares of the prepackaged software company at the end of 2017Q3, valued at $16.97M, down from 116,778 at the end of the previous reported quarter. Marsico Capital Management Llc who had been investing in Adobe Sys Inc for a number of months, seems to be less bullish one the $94.87 billion market cap company. The stock decreased 1.33% or $2.59 during the last trading session, reaching $192.46. About 4.60 million shares traded or 57.86% up from the average. Adobe Systems Incorporated (NASDAQ:ADBE) has risen 42.29% since January 17, 2017 and is uptrending. It has outperformed by 25.59% the S&P500.

Analysts await Adobe Systems Incorporated (NASDAQ:ADBE) to report earnings on March, 15. They expect $1.06 earnings per share, up 35.90% or $0.28 from last year’s $0.78 per share. ADBE’s profit will be $522.52M for 45.39 P/E if the $1.06 EPS becomes a reality. After $1.05 actual earnings per share reported by Adobe Systems Incorporated for the previous quarter, Wall Street now forecasts 0.95% EPS growth.

Since August 9, 2017, it had 1 insider purchase, and 7 sales for $6.56 million activity. 1,125 shares were bought by Banse Amy, worth $199,520. 6,800 shares valued at $1.18M were sold by WARNOCK JOHN E on Friday, October 20. GESCHKE CHARLES M also sold $3.97M worth of Adobe Systems Incorporated (NASDAQ:ADBE) on Wednesday, January 10. THOMPSON MATTHEW sold 2,190 shares worth $379,784.

Among 38 analysts covering Adobe Systems (NASDAQ:ADBE), 29 have Buy rating, 0 Sell and 9 Hold. Therefore 76% are positive. Adobe Systems had 135 analyst reports since August 11, 2015 according to SRatingsIntel. The firm has “Overweight” rating given on Friday, December 11 by KeyBanc Capital Markets. The firm earned “Buy” rating on Friday, March 17 by Wunderlich. The firm has “Buy” rating by Robert W. Baird given on Friday, October 6. Barclays Capital maintained Adobe Systems Incorporated (NASDAQ:ADBE) on Thursday, October 19 with “Overweight” rating. Goldman Sachs maintained it with “Neutral” rating and $92 target in Wednesday, March 9 report. On Tuesday, September 8 the stock rating was upgraded by Vetr to “Strong-Buy”. The stock has “Buy” rating by RBC Capital Markets on Sunday, October 8. The rating was maintained by Susquehanna on Wednesday, October 7 with “Positive”. On Wednesday, September 20 the stock rating was maintained by Jefferies with “Buy”. The stock has “Buy” rating by BMO Capital Markets on Monday, September 25.

Investors sentiment increased to 1.11 in 2017 Q3. Its up 0.01, from 1.1 in 2017Q2. It improved, as 42 investors sold ADBE shares while 327 reduced holdings. 97 funds opened positions while 312 raised stakes. 414.95 million shares or 0.84% less from 418.45 million shares in 2017Q2 were reported. The Illinois-based Ativo Capital Mngmt Llc has invested 0.4% in Adobe Systems Incorporated (NASDAQ:ADBE). Telemus Capital Limited Liability holds 0.62% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE) for 26,327 shares. Riverpark Limited Liability Com has invested 0.55% in Adobe Systems Incorporated (NASDAQ:ADBE). Renaissance Lc owns 214,752 shares. Ballentine Prtnrs Ltd holds 0.04% or 4,283 shares. Manchester Cap Management Lc has invested 0.06% in Adobe Systems Incorporated (NASDAQ:ADBE). The Kentucky-based Hl Financial Services Limited Co has invested 0.08% in Adobe Systems Incorporated (NASDAQ:ADBE). Glg Lc stated it has 25,500 shares. Thompson Management owns 3,100 shares. Halbert Hargrove Russell Ltd Limited Liability Company reported 1,509 shares. Meridian Investment Counsel holds 0.66% or 7,780 shares. Moreover, Banque Pictet And Cie has 0.26% invested in Adobe Systems Incorporated (NASDAQ:ADBE) for 78,036 shares. Commonwealth Comml Bank Of reported 11,088 shares. The Michigan-based Ally Financial has invested 0.2% in Adobe Systems Incorporated (NASDAQ:ADBE). Alphamark Ltd reported 3,451 shares.

Marsico Capital Management Llc, which manages about $17.14B and $2.49 billion US Long portfolio, upped its stake in Crown Castle Intl Corp New (NYSE:CCI) by 24,838 shares to 224,326 shares, valued at $22.43 million in 2017Q3, according to the filing. It also increased its holding in First Rep Bk San Francisco C (NYSE:FRC) by 299,974 shares in the quarter, for a total of 494,392 shares, and has risen its stake in Teleflex Inc (NYSE:TFX).

Investors sentiment decreased to 1 in 2017 Q3. Its down 0.08, from 1.08 in 2017Q2. It is negative, as 55 investors sold DVN shares while 230 reduced holdings. 75 funds opened positions while 209 raised stakes. 396.57 million shares or 0.97% less from 400.45 million shares in 2017Q2 were reported. Piedmont Invest Advsr Limited Liability Company reported 14,855 shares. Old Mutual Customised Solutions (Proprietary) Ltd owns 14,868 shares. Shelton Cap Mgmt stated it has 13,997 shares or 0.04% of all its holdings. State Teachers Retirement System has invested 0.08% in Devon Energy Corporation (NYSE:DVN). Eaton Vance Management accumulated 0.14% or 1.42 million shares. New York-based Allen Inv Mngmt Ltd Liability Com has invested 0.03% in Devon Energy Corporation (NYSE:DVN). Citigroup holds 0.01% or 379,860 shares. Culbertson A N And stated it has 24,015 shares. Blue Ridge Ltd Limited Liability Company has 1.34 million shares. Ngam Advsr Lp owns 192,100 shares. Thornburg Investment Management stated it has 1.04M shares or 0.27% of all its holdings. D E Shaw And invested 0.14% in Devon Energy Corporation (NYSE:DVN). Lucas Capital invested in 6,100 shares. Glenmede Tru Na invested 0% in Devon Energy Corporation (NYSE:DVN). Hoertkorn Richard Charles holds 35,015 shares.

Bronson Point Management Llc, which manages about $1.86 billion and $311.05M US Long portfolio, decreased its stake in Mgm Resorts International (NYSE:MGM) by 87,500 shares to 112,500 shares, valued at $3.67 million in 2017Q3, according to the filing. It also reduced its holding in Bank Amer Corp (NYSE:BAC) by 50,000 shares in the quarter, leaving it with 100,000 shares, and cut its stake in Coca Cola Co (NYSE:KO).

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our daily email newsletter.




Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our free daily email newsletter:


Recent Posts