Check Capital Management Has Decreased Its Verizon (VZ) Position by $12.61 Million as Shares Declined; Lumbard & Kellner Holding in Kraton (KRA) Lowered as Stock Price Rose

February 24, 2018 - By Vivian Currie

Check Capital Management Inc decreased its stake in Verizon (VZ) by 25.96% based on its latest 2017Q3 regulatory filing with the SEC. Check Capital Management Inc sold 257,248 shares as the company’s stock declined 7.66% while stock markets rallied. The hedge fund held 733,672 shares of the telecommunications equipment company at the end of 2017Q3, valued at $36.31M, down from 990,920 at the end of the previous reported quarter. Check Capital Management Inc who had been investing in Verizon for a number of months, seems to be less bullish one the $196.98 billion market cap company. The stock increased 0.88% or $0.42 during the last trading session, reaching $48.29. About 26.37M shares traded or 46.46% up from the average. Verizon Communications Inc. (NYSE:VZ) has declined 8.48% since February 24, 2017 and is downtrending. It has underperformed by 25.18% the S&P500.

Lumbard & Kellner Llc decreased its stake in Kraton Corporation (KRA) by 5.65% based on its latest 2017Q3 regulatory filing with the SEC. Lumbard & Kellner Llc sold 7,700 shares as the company’s stock rose 27.98% with the market. The institutional investor held 128,483 shares of the basic industries company at the end of 2017Q3, valued at $5.20 million, down from 136,183 at the end of the previous reported quarter. Lumbard & Kellner Llc who had been investing in Kraton Corporation for a number of months, seems to be less bullish one the $1.46 billion market cap company. The stock increased 5.06% or $2.21 during the last trading session, reaching $45.92. About 399,149 shares traded or 51.13% up from the average. Kraton Corporation (NYSE:KRA) has risen 32.40% since February 24, 2017 and is uptrending. It has outperformed by 15.70% the S&P500.

Since August 28, 2017, it had 0 insider purchases, and 3 sales for $406,645 activity. Another trade for 610 shares valued at $29,658 was sold by SILLIMAN CRAIG L..

Check Capital Management Inc, which manages about $796.94 million and $3.35 billion US Long portfolio, upped its stake in Ishares Russell 2000 (IWM) by 2,800 shares to 5,600 shares, valued at $830,000 in 2017Q3, according to the filing. It also increased its holding in Express Scripts (NASDAQ:ESRX) by 727,409 shares in the quarter, for a total of 1.43 million shares, and has risen its stake in Leucadia National (NYSE:LUK).

Investors sentiment is 0.88 in Q3 2017. Its the same as in 2017Q2. It is without change, as 81 investors sold VZ shares while 696 reduced holdings. only 114 funds opened positions while 570 raised stakes. 2.53 billion shares or 1.44% more from 2.49 billion shares in 2017Q2 were reported. Private Wealth Partners Ltd Llc invested in 84,869 shares. Fjarde Ap reported 963,462 shares. Covenant Multifamily Offices Limited Liability Com has 32,172 shares. Btr Cap invested 0.36% of its portfolio in Verizon Communications Inc. (NYSE:VZ). Moreover, St Germain D J Com has 0.73% invested in Verizon Communications Inc. (NYSE:VZ). Arete Wealth Advsr Limited Com holds 0.28% in Verizon Communications Inc. (NYSE:VZ) or 14,043 shares. Bb&T Securities Lc owns 1.59 million shares. Commonwealth Of Pennsylvania Public School Empls Retrmt holds 331,762 shares. New England And Retirement Grp holds 0.29% of its portfolio in Verizon Communications Inc. (NYSE:VZ) for 10,580 shares. Ray Gerald L & Assoc Limited reported 30,705 shares stake. Royal Comml Bank Of Canada accumulated 17.23M shares. Midas Management has invested 1.17% in Verizon Communications Inc. (NYSE:VZ). Moreover, Jpmorgan Chase has 0.3% invested in Verizon Communications Inc. (NYSE:VZ). Carlton Hofferkamp Jenks Wealth Mngmt Ltd Com accumulated 31,242 shares. Scotia Capital Incorporated accumulated 583,448 shares.

Among 28 analysts covering Verizon Communications Inc. (NYSE:VZ), 7 have Buy rating, 0 Sell and 21 Hold. Therefore 25% are positive. Verizon Communications Inc. had 74 analyst reports since July 22, 2015 according to SRatingsIntel. The stock has “Buy” rating by Scotia Capital on Monday, January 22. The firm has “Neutral” rating given on Tuesday, August 11 by MoffettNathanson. Citigroup maintained the stock with “Neutral” rating in Monday, March 14 report. The stock of Verizon Communications Inc. (NYSE:VZ) has “Buy” rating given on Tuesday, December 12 by Nomura. The rating was upgraded by Drexel Hamilton on Monday, October 24 to “Buy”. The company was maintained on Monday, April 18 by Barclays Capital. The firm has “Hold” rating by Zacks given on Friday, August 14. The rating was maintained by Citigroup with “Neutral” on Wednesday, October 21. Cowen & Co maintained the stock with “Hold” rating in Tuesday, January 23 report. The firm has “Neutral” rating given on Wednesday, July 27 by Hilliard Lyons.

Analysts await Verizon Communications Inc. (NYSE:VZ) to report earnings on April, 19. They expect $1.09 earnings per share, up 14.74% or $0.14 from last year’s $0.95 per share. VZ’s profit will be $4.45B for 11.08 P/E if the $1.09 EPS becomes a reality. After $0.86 actual earnings per share reported by Verizon Communications Inc. for the previous quarter, Wall Street now forecasts 26.74% EPS growth.

Since September 29, 2017, it had 0 insider buys, and 3 sales for $1.22 million activity. Fogarty Kevin Michael had sold 1,042 shares worth $52,100. 21,202 Kraton Corporation (NYSE:KRA) shares with value of $840,374 were sold by Jung Holger R..

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