Today, Kings Point Capital Management sells partial stakes of Platform Specialty Products Corp. (PAH)

Today, Kings Point Capital Management sells partial stakes of Platform Specialty Products Corp. (PAH)
Kings Point Capital Management reduced its stake in Platform Specialty Products Corp. (NYSE:PAH) by 48.1% during the third quarter, Holdings Channel reports. The firm owned 47,628 shares of the company’s stock after selling 44,066 shares during the period. Kings Point Capital Management’s holdings in Platform Specialty Products Corp. were worth $386,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. UBS Asset Management Americas Inc. raised its stake in Platform Specialty Products Corp. by 19.3% in the third quarter. UBS Asset Management Americas Inc. now owns 139,298 shares of the company’s stock valued at $1,130,000 after buying an additional 22,530 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Platform Specialty Products Corp. by 5.8% in the third quarter. Bank of New York Mellon Corp now owns 482,600 shares of the company’s stock valued at $3,913,000 after buying an additional 26,444 shares during the last quarter. Aperio Group LLC raised its stake in Platform Specialty Products Corp. by 9.0% in the third quarter. Aperio Group LLC now owns 96,320 shares of the company’s stock valued at $781,000 after buying an additional 7,978 shares during the last quarter. First Trust Advisors LP acquired a new stake in Platform Specialty Products Corp. during the third quarter valued at about $655,000. Finally, LMR Partners LLP acquired a new stake in Platform Specialty Products Corp. during the third quarter valued at about $1,548,000. Institutional investors own 78.65% of the company’s stock.

Shares of Platform Specialty Products Corp. (NYSE:PAH) traded down 0.45% during trading on Friday, hitting $8.88. 179,765 shares of the stock traded hands. The firm’s 50-day moving average price is $7.84 and its 200-day moving average price is $8.73. The stock’s market cap is $2.47 billion. Platform Specialty Products Corp. has a 12 month low of $5.25 and a 12 month high of $13.96.

Platform Specialty Products Corp. (NYSE:PAH) last announced its quarterly earnings results on Friday, November 4th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. The company had revenue of $891 million for the quarter, compared to the consensus estimate of $850.16 million. Platform Specialty Products Corp. had a negative net margin of 5.98% and a negative return on equity of 0.53%. Platform Specialty Products Corp.’s revenue for the quarter was up 49.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.06 EPS. Analysts anticipate that Platform Specialty Products Corp. will post $0.59 EPS for the current year.

Several analysts have issued reports on the stock. Nomura restated a “neutral” rating and set a $12.00 price target (up from $11.00) on shares of Platform Specialty Products Corp. in a research report on Tuesday, September 13th. Barclays PLC cut their price target on shares of Platform Specialty Products Corp. from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 16th. Roth Capital assumed coverage on shares of Platform Specialty Products Corp. in a research report on Monday, August 22nd. They set a “buy” rating and a $12.00 price target for the company. Citigroup Inc. initiated coverage on shares of Platform Specialty Products Corp. in a research report on Thursday, July 28th. They set a “buy” rating and a $11.00 price target for the company. Finally, Zacks Investment Research raised shares of Platform Specialty Products Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, November 9th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Platform Specialty Products Corp. presently has a consensus rating of “Buy” and a consensus target price of $10.80.

In other Platform Specialty Products Corp. news, Director Martin E. Franklin acquired 1,050,000 shares of the company’s stock in a transaction on Friday, September 16th. The stock was acquired at an average cost of $8.25 per share, with a total value of $8,662,500.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Diego Lopez Casanello acquired 4,000 shares of the company’s stock in a transaction on Tuesday, November 8th. The stock was acquired at an average cost of $8.26 per share, with a total value of $33,040.00. Following the completion of the purchase, the insider now directly owns 2,000 shares in the company, valued at $16,520. The disclosure for this purchase can be found here. 6.00% of the stock is currently owned by company insiders.

Related posts

Leave a Comment