Blue Harbour Group LP Has Cut Its Holding in Avnet (AVT) by $115.08 Million; Long Pond Capital LP Stake in Spirit Rlty Cap New (SRC) Upped as Market Value Declined

November 15, 2017 - By Hazel Jackson

Clifton S. Robbins decreased its stake in Avnet Inc (AVT) by 69.4% based on its latest 2017Q2 regulatory filing with the SEC. Blue Harbour Group Lp sold 3.03M shares as the company’s stock declined 20.08% while stock markets rallied. The hedge fund run by Clifton S. Robbins held 1.34 million shares of the consumer non-durables company at the end of 2017Q2, valued at $51.92M, down from 4.36M at the end of the previous reported quarter. Blue Harbour Group Lp who had been investing in Avnet Inc for a number of months, seems to be less bullish one the $4.70 billion market cap company. The stock decreased 0.01% or $0.01 on November 14, reaching $38.84. About 3,049 shares traded. Avnet, Inc. (NYSE:AVT) has declined 4.87% since November 15, 2016 and is downtrending. It has underperformed by 21.57% the S&P500.




John Khoury increased its stake in Spirit Rlty Cap Inc New (SRC) by 389.11% based on its latest 2017Q2 regulatory filing with the SEC. Long Pond Capital Lp bought 5.93M shares as the company’s stock declined 32.65% while stock markets rallied. The hedge fund run by John Khoury held 7.46M shares of the consumer services company at the end of 2017Q2, valued at $55.27 million, up from 1.53M at the end of the previous reported quarter. Long Pond Capital Lp who had been investing in Spirit Rlty Cap Inc New for a number of months, seems to be bullish on the $3.91B market cap company. The stock rose 1.98% or $0.17 reaching $8.75 per share. About 1,335 shares traded. Spirit Realty Capital, Inc (New) (NYSE:SRC) has declined 36.20% since November 15, 2016 and is downtrending. It has underperformed by 52.90% the S&P500.

Long Pond Capital Lp, which manages about $1.63B and $2.61B US Long portfolio, decreased its stake in Madison Square Garden Co New by 294,768 shares to 472,757 shares, valued at $93.09M in 2017Q2, according to the filing. It also reduced its holding in Lowes Cos Inc (NYSE:LOW) by 440,000 shares in the quarter, leaving it with 931,487 shares, and cut its stake in Forest City Rlty Tr Inc.

Since May 24, 2017, it had 4 insider purchases, and 0 insider sales for $321,375 activity. The insider JOSEPH PHILLIP D JR bought $50,049. 10,000 shares valued at $71,900 were bought by Messmann Boyd on Wednesday, May 24.

Among 17 analysts covering Spirit Realty Capital (NYSE:SRC), 8 have Buy rating, 0 Sell and 9 Hold. Therefore 47% are positive. Spirit Realty Capital had 46 analyst reports since July 23, 2015 according to SRatingsIntel. The firm earned “Buy” rating on Wednesday, August 16 by Bank of America. As per Monday, November 21, the company rating was upgraded by Robert W. Baird. The firm has “Perform” rating given on Tuesday, January 5 by Oppenheimer. On Thursday, November 2 the stock rating was maintained by Ladenburg with “Hold”. The firm has “Underperform” rating by Mizuho given on Friday, May 5. RBC Capital Markets maintained Spirit Realty Capital, Inc (New) (NYSE:SRC) on Friday, August 7 with “Sector Perform” rating. The company was initiated on Tuesday, October 27 by Wunderlich. On Friday, December 16 the stock rating was downgraded by Mizuho to “Neutral”. JP Morgan initiated the stock with “Overweight” rating in Friday, December 16 report. The stock of Spirit Realty Capital, Inc (New) (NYSE:SRC) earned “Hold” rating by Ladenburg on Friday, August 4.

More notable recent Spirit Realty Capital, Inc (New) (NYSE:SRC) news were published by: Prnewswire.com which released: “Spirit Realty Capital, Inc. Announces Third Quarter 2017 Financial and …” on November 02, 2017, also Gurufocus.com with their article: “Tricadia Capital Management, LLC Buys Spirit Realty Capital Inc, Treehouse …” published on November 13, 2017, Prnewswire.com published: “REIT Stock Performance Review — Annaly Capital Management, New Senior …” on November 06, 2017. More interesting news about Spirit Realty Capital, Inc (New) (NYSE:SRC) were released by: Benzinga.com and their article: “Spirit Realty Capital Shares Still Cheap, But Not Cheap Enough” published on November 10, 2017 as well as Seekingalpha.com‘s news article titled: “Spirit Realty Capital: This 6.00% Preferred Stock Started Trading On The NYSE” with publication date: October 29, 2017.

Investors sentiment decreased to 0.98 in 2017 Q2. Its down 0.42, from 1.4 in 2017Q1. It dived, as 53 investors sold SRC shares while 82 reduced holdings. 52 funds opened positions while 80 raised stakes. 425.47 million shares or 8.88% less from 466.96 million shares in 2017Q1 were reported. Rhumbline Advisers stated it has 542,736 shares or 0.01% of all its holdings. Sei Co reported 285,579 shares. Moreover, Teacher Retirement System Of Texas has 0.04% invested in Spirit Realty Capital, Inc (New) (NYSE:SRC). Utah Retirement has 0.02% invested in Spirit Realty Capital, Inc (New) (NYSE:SRC). Cubist Systematic Strategies Limited Com holds 0.02% in Spirit Realty Capital, Inc (New) (NYSE:SRC) or 38,527 shares. Tci Wealth Advisors holds 571 shares or 0% of its portfolio. Guggenheim Limited Liability Corp invested in 763,304 shares or 0.01% of the stock. 30,000 are owned by Telemus Capital Ltd Liability Corporation. Hg Vora Capital Management Limited Liability has invested 15.52% of its portfolio in Spirit Realty Capital, Inc (New) (NYSE:SRC). D E Shaw And Inc invested 0% in Spirit Realty Capital, Inc (New) (NYSE:SRC). Starboard Value LP invested in 0.43% or 2.00 million shares. Millennium Mgmt Lc holds 0.03% or 2.53M shares in its portfolio. Barnett, Tennessee-based fund reported 204,530 shares. State Street holds 9.68M shares. Spirit Of America Mngmt Corporation invested in 0.03% or 32,400 shares.

Among 10 analysts covering Avnet Inc. (NYSE:AVT), 0 have Buy rating, 3 Sell and 7 Hold. Therefore 0 are positive. Avnet Inc. had 28 analyst reports since August 6, 2015 according to SRatingsIntel. On Tuesday, June 7 the stock rating was upgraded by Goldman Sachs to “Neutral”. SunTrust maintained the stock with “Hold” rating in Thursday, October 26 report. The company was downgraded on Friday, April 28 by Longbow. The firm has “Hold” rating given on Tuesday, September 20 by Stifel Nicolaus. The firm has “Hold” rating given on Friday, April 29 by Brean Capital. As per Friday, April 28, the company rating was downgraded by Suntrust Robinson. On Tuesday, September 20 the stock rating was downgraded by Cross Research to “Sell”. The firm has “Buy” rating by Longbow given on Friday, January 22. The company was maintained on Thursday, August 11 by Citigroup. The stock of Avnet, Inc. (NYSE:AVT) earned “Hold” rating by Stifel Nicolaus on Sunday, September 10.

Analysts await Avnet, Inc. (NYSE:AVT) to report earnings on January, 25. They expect $0.72 EPS, down 6.49% or $0.05 from last year’s $0.77 per share. AVT’s profit will be $87.13 million for 13.49 P/E if the $0.72 EPS becomes a reality. After $0.76 actual EPS reported by Avnet, Inc. for the previous quarter, Wall Street now forecasts -5.26% negative EPS growth.

Investors sentiment decreased to 0.84 in 2017 Q2. Its down 0.42, from 1.26 in 2017Q1. It fall, as 45 investors sold AVT shares while 120 reduced holdings. 54 funds opened positions while 85 raised stakes. 116.57 million shares or 4.05% less from 121.50 million shares in 2017Q1 were reported. Jacobs Levy Equity Management Inc has invested 0.09% in Avnet, Inc. (NYSE:AVT). Barrow Hanley Mewhinney And Strauss Lc holds 789 shares. Tiaa Cref Invest Management Lc accumulated 380,036 shares. Westpac Corp owns 0% invested in Avnet, Inc. (NYSE:AVT) for 34,234 shares. Paloma Ptnrs Mngmt invested in 19,081 shares. Hightower Advisors Lc invested in 8,847 shares. Credit Agricole S A accumulated 45,115 shares or 0.01% of the stock. Pictet Asset Management Limited owns 45,000 shares. Meeder Asset Incorporated has 0% invested in Avnet, Inc. (NYSE:AVT) for 279 shares. The California-based Brandes Invest Ltd Partnership has invested 0.35% in Avnet, Inc. (NYSE:AVT). Schwab Charles Investment invested in 558,904 shares or 0.02% of the stock. Moreover, Cacti Asset Mngmt Ltd Liability has 2.54% invested in Avnet, Inc. (NYSE:AVT). Neuberger Berman Group Inc reported 0% in Avnet, Inc. (NYSE:AVT). New York State Teachers Retirement System holds 203,948 shares or 0.02% of its portfolio. Nomura Asset invested in 19,645 shares.

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