Ejf Capital Position in Independent Bank Mich (IBCP) Has Decreased by $15.40 Million as Share Value Declined; Berkshire Partners Has Boosted Its Position in Advanced Drain Sys Del (WMS) by $63.82 Million as Market Value Declined

January 14, 2018 - By Louis Casey

Emanuel J. Friedman decreased its stake in Independent Bank Corp Mich (IBCP) by 48.28% based on its latest 2017Q3 regulatory filing with the SEC. Ejf Capital Llc sold 700,000 shares as the company’s stock declined 4.64% while stock markets rallied. The hedge fund run by Emanuel J. Friedman held 750,000 shares of the major banks company at the end of 2017Q3, valued at $16.99 million, down from 1.45 million at the end of the previous reported quarter. Ejf Capital Llc who had been investing in Independent Bank Corp Mich for a number of months, seems to be less bullish one the $509.88M market cap company. The stock decreased 0.62% or $0.15 during the last trading session, reaching $23.9. About 49,425 shares traded. Independent Bank Corporation (NASDAQ:IBCP) has risen 39.51% since January 14, 2017 and is uptrending. It has outperformed by 22.81% the S&P500.

Berkshire Partners Llc increased its stake in Advanced Drain Sys Inc Del (WMS) by 154.43% based on its latest 2017Q3 regulatory filing with the SEC. Berkshire Partners Llc bought 3.19 million shares as the company’s stock declined 0.22% while stock markets rallied. The institutional investor held 5.26M shares of the capital goods company at the end of 2017Q3, valued at $106.46 million, up from 2.07 million at the end of the previous reported quarter. Berkshire Partners Llc who had been investing in Advanced Drain Sys Inc Del for a number of months, seems to be bullish on the $1.38B market cap company. The stock increased 0.41% or $0.1 during the last trading session, reaching $24.65. About 223,881 shares traded. Advanced Drainage Systems, Inc. (NYSE:WMS) has declined 0.13% since January 14, 2017 and is downtrending. It has underperformed by 16.83% the S&P500.

Analysts await Independent Bank Corporation (NASDAQ:IBCP) to report earnings on January, 25. They expect $0.32 EPS, up 18.52% or $0.05 from last year’s $0.27 per share. IBCP’s profit will be $6.83M for 18.67 P/E if the $0.32 EPS becomes a reality. After $0.32 actual EPS reported by Independent Bank Corporation for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

Investors sentiment increased to 1.37 in 2017 Q3. Its up 0.24, from 1.13 in 2017Q2. It increased, as 8 investors sold IBCP shares while 30 reduced holdings. 14 funds opened positions while 38 raised stakes. 16.96 million shares or 0.60% more from 16.86 million shares in 2017Q2 were reported. Thompson Siegel And Walmsley Limited Liability Com reported 0% in Independent Bank Corporation (NASDAQ:IBCP). Oppenheimer Asset Inc reported 0% of its portfolio in Independent Bank Corporation (NASDAQ:IBCP). Loomis Sayles & Co Ltd Partnership reported 14 shares or 0% of all its holdings. Maryland-based Adams Diversified Equity Fund has invested 0.06% in Independent Bank Corporation (NASDAQ:IBCP). Prelude Mgmt Lc accumulated 6,000 shares. First Trust L P, a Illinois-based fund reported 44,051 shares. Emerald Mutual Fund Advisers Trust stated it has 0.05% of its portfolio in Independent Bank Corporation (NASDAQ:IBCP). Millennium Management owns 0.01% invested in Independent Bank Corporation (NASDAQ:IBCP) for 274,272 shares. Thomson Horstmann And Bryant Inc accumulated 1.08% or 346,432 shares. Brandywine Global Investment Management Ltd Com has 6,722 shares. Strs Ohio holds 33,400 shares. Retail Bank Of Montreal Can invested in 34,155 shares or 0% of the stock. Royal Commercial Bank Of Canada holds 0% or 1,769 shares in its portfolio. The California-based Los Angeles Capital & Equity Rech has invested 0% in Independent Bank Corporation (NASDAQ:IBCP). Wells Fargo And Mn holds 0% in Independent Bank Corporation (NASDAQ:IBCP) or 128,563 shares.

Among 8 analysts covering Independent Bank Corporation (NASDAQ:IBCP), 2 have Buy rating, 0 Sell and 6 Hold. Therefore 25% are positive. Independent Bank Corporation had 12 analyst reports since July 29, 2015 according to SRatingsIntel. The rating was downgraded by Fig Partners on Tuesday, August 11 to “Outperform”. Compass Point upgraded Independent Bank Corporation (NASDAQ:IBCP) on Monday, December 18 to “Buy” rating. The firm earned “Market Perform” rating on Friday, September 23 by Hovde Group. The stock has “Hold” rating by TheStreet on Thursday, August 20. The rating was initiated by Boenning & Scattergood with “Neutral” on Wednesday, May 4. The stock of Independent Bank Corporation (NASDAQ:IBCP) earned “Market Perform” rating by FIG Partners on Tuesday, August 11. Keefe Bruyette & Woods maintained it with “Hold” rating and $24.0 target in Wednesday, December 6 report. The rating was maintained by Keefe Bruyette & Woods with “Hold” on Thursday, December 21. The firm has “Hold” rating given on Tuesday, October 3 by Keefe Bruyette & Woods.

Ejf Capital Llc, which manages about $7.64 billion and $961.17M US Long portfolio, upped its stake in Synovus Finl Corp (NYSE:SNV) by 300,000 shares to 900,002 shares, valued at $41.45M in 2017Q3, according to the filing. It also increased its holding in Ares Mgmt LP (NYSE:ARES) by 159,544 shares in the quarter, for a total of 1.09 million shares, and has risen its stake in Citizens Finl Group Inc (NYSE:CFG).

Investors sentiment increased to 1.59 in Q3 2017. Its up 0.59, from 1 in 2017Q2. It is positive, as 11 investors sold WMS shares while 23 reduced holdings. 18 funds opened positions while 36 raised stakes. 42.73 million shares or 3.33% more from 41.35 million shares in 2017Q2 were reported. Royal Fincl Bank Of Canada owns 5,192 shares. Jane Street Gru Ltd Liability Corporation accumulated 13,039 shares. Comerica Comml Bank has invested 0.01% in Advanced Drainage Systems, Inc. (NYSE:WMS). Credit Agricole S A invested 0.06% in Advanced Drainage Systems, Inc. (NYSE:WMS). Daiwa Sb Investments Ltd holds 0.18% or 33,618 shares in its portfolio. 860,697 were accumulated by Invesco Limited. Moreover, Raymond James Associate has 0% invested in Advanced Drainage Systems, Inc. (NYSE:WMS). Sei Investments holds 0% in Advanced Drainage Systems, Inc. (NYSE:WMS) or 15,525 shares. Wells Fargo Mn holds 0% in Advanced Drainage Systems, Inc. (NYSE:WMS) or 45,121 shares. Geode Limited Com invested in 293,369 shares. The Pennsylvania-based Pnc Fincl Services Gp Inc has invested 0.01% in Advanced Drainage Systems, Inc. (NYSE:WMS). Blackrock Inc owns 2.32M shares or 0% of their US portfolio. Susquehanna Gru Llp reported 15,040 shares. State Street Corporation owns 662,761 shares for 0% of their portfolio. Principal Grp Incorporated invested 0% of its portfolio in Advanced Drainage Systems, Inc. (NYSE:WMS).

Among 6 analysts covering Advanced Drainage Systems (NYSE:WMS), 1 have Buy rating, 0 Sell and 5 Hold. Therefore 17% are positive. Advanced Drainage Systems had 24 analyst reports since November 24, 2015 according to SRatingsIntel. The stock of Advanced Drainage Systems, Inc. (NYSE:WMS) has “Hold” rating given on Friday, May 26 by RBC Capital Markets. The firm earned “Hold” rating on Friday, May 26 by Boenning & Scattergood. The company was maintained on Wednesday, June 8 by RBC Capital Markets. The stock has “Sector Perform” rating by RBC Capital Markets on Friday, January 13. The stock of Advanced Drainage Systems, Inc. (NYSE:WMS) has “Hold” rating given on Monday, May 29 by RBC Capital Markets. The company was maintained on Wednesday, February 24 by RBC Capital Markets. Robert W. Baird maintained it with “Buy” rating and $25.0 target in Wednesday, October 4 report. The rating was maintained by RBC Capital Markets with “Hold” on Tuesday, November 14. On Friday, November 3 the stock rating was maintained by Robert W. Baird with “Outperform”. The firm has “Outperform” rating given on Friday, January 13 by Robert W. Baird.

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