Trading Report: The EMC Corp. (EMC) Stake Increased by RDL Financial Inc.

The EMC Corp. (EMC) Stake Increased by RDL Financial Inc.

RDL Financial Inc. boosted its position in shares of EMC Corp. (NYSE:EMC) by 389.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,056 shares of the information technology service provider’s stock after buying an additional 36,639 shares during the period. RDL Financial Inc.’s holdings in EMC Corp. were worth $1,251,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in EMC. Fairpointe Capital LLC purchased a new stake in EMC Corp. during the first quarter worth $490,000. Wellington Management Group LLP purchased a new stake in EMC Corp. during the first quarter worth $14,078,000. Glazer Capital LLC increased its stake in EMC Corp. by 641.6% in the first quarter. Glazer Capital LLC now owns 556,199 shares of the information technology service provider’s stock worth $14,823,000 after buying an additional 481,199 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in EMC Corp. during the first quarter worth $186,561,000. Finally, Anandar Capital Management LP purchased a new stake in EMC Corp. during the first quarter worth $11,326,000. 79.86% of the stock is owned by institutional investors and hedge funds.

Shares of EMC Corp. (NYSE:EMC) remained flat at $29.05 during midday trading on Friday. EMC Corp. has a 12-month low of $22.99 and a 12-month high of $29.13. The stock has a 50 day moving average price of $28.52 and a 200-day moving average price of $27.28.

EMC has been the topic of a number of research analyst reports. Mizuho cut EMC Corp. from a “buy” rating to a “neutral” rating and set a $29.50 price target on the stock. in a report on Monday, July 11th. Macquarie cut EMC Corp. from an “outperform” rating to a “neutral” rating and set a $30.00 price target on the stock. in a report on Wednesday, July 13th. Citigroup Inc. cut EMC Corp. to a “market perform” rating in a report on Monday, July 18th. Raymond James Financial Inc. cut EMC Corp. from an “outperform” rating to a “market perform” rating in a report on Monday, July 18th. Finally, Zacks Investment Research cut EMC Corp. from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $31.36.

About EMC Corp.

EMC Corporation (EMC) develops, delivers and supports the information technology (IT) industry’s range of information infrastructure and virtual infrastructure technologies, solutions and services. EMC manages the Company as part of a federation of businesses: EMC Information Infrastructure, VMware Virtual Infrastructure, Pivotal and Virtustream.

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