Price Michael F Upped Its Cit Group (CIT) Stake; Sm Energy Co (SM) Position Raised by Fir Tree Inc

January 14, 2018 - By Louis Casey

Jeffrey Tannenbaum increased its stake in Sm Energy Co (SM) by 40.25% based on its latest 2017Q3 regulatory filing with the SEC. Fir Tree Inc bought 1.35M shares as the company’s stock declined 20.56% while stock markets rallied. The hedge fund run by Jeffrey Tannenbaum held 4.70 million shares of the oil & gas production company at the end of 2017Q3, valued at $83.37M, up from 3.35 million at the end of the previous reported quarter. Fir Tree Inc who had been investing in Sm Energy Co for a number of months, seems to be bullish on the $3.00B market cap company. The stock increased 0.52% or $0.14 during the last trading session, reaching $26.84. About 4.87M shares traded or 24.03% up from the average. SM Energy Company (NYSE:SM) has declined 24.40% since January 14, 2017 and is downtrending. It has underperformed by 41.10% the S&P500.

Michael Price increased its stake in Cit Group Inc. (CIT) by 3.25% based on its latest 2017Q3 regulatory filing with the SEC. Price Michael F bought 17,000 shares as the company’s stock rose 7.62% with the market. The hedge fund run by Michael Price held 540,000 shares of the consumer services company at the end of 2017Q3, valued at $26.49 million, up from 523,000 at the end of the previous reported quarter. Price Michael F who had been investing in Cit Group Inc. for a number of months, seems to be bullish on the $6.98 billion market cap company. The stock increased 1.12% or $0.59 during the last trading session, reaching $53.21. About 734,147 shares traded. CIT Group Inc. (NYSE:CIT) has risen 46.21% since January 14, 2017 and is uptrending. It has outperformed by 29.51% the S&P500.




Among 23 analysts covering SM Energy (NYSE:SM), 15 have Buy rating, 0 Sell and 8 Hold. Therefore 65% are positive. SM Energy had 77 analyst reports since July 21, 2015 according to SRatingsIntel. The rating was maintained by RBC Capital Markets with “Hold” on Thursday, July 20. The firm earned “Equal Weight” rating on Tuesday, January 19 by CapitalOne. As per Wednesday, July 19, the company rating was maintained by Bank of America. Williams Capital Group maintained the shares of SM in report on Tuesday, June 6 with “Buy” rating. JP Morgan initiated the shares of SM in report on Wednesday, December 9 with “Neutral” rating. RBC Capital Markets maintained the stock with “Hold” rating in Thursday, September 28 report. The rating was maintained by Topeka Capital Markets with “Buy” on Wednesday, February 24. The rating was upgraded by Guggenheim to “Buy” on Monday, November 2. The firm earned “Hold” rating on Monday, April 3 by RBC Capital Markets. The firm has “Hold” rating by Stifel Nicolaus given on Wednesday, April 6.

Investors sentiment decreased to 1.3 in Q3 2017. Its down 0.04, from 1.34 in 2017Q2. It worsened, as 33 investors sold SM shares while 50 reduced holdings. 26 funds opened positions while 82 raised stakes. 115.08 million shares or 8.34% more from 106.22 million shares in 2017Q2 were reported. Texan Cap Mngmt holds 0.23% or 19,615 shares. Invesco invested in 82,292 shares or 0% of the stock. The Massachusetts-based State Street has invested 0.01% in SM Energy Company (NYSE:SM). Tower Ltd Company (Trc) owns 246 shares or 0% of their US portfolio. Capstone Advsr Lc, a New York-based fund reported 14,843 shares. Commonwealth Of Pennsylvania Public School Empls Retrmt System holds 0% or 14,932 shares. The California-based California State Teachers Retirement Sys has invested 0.01% in SM Energy Company (NYSE:SM). Mutual Of America Cap Mngmt Limited Liability Com has 85,925 shares for 0.02% of their portfolio. Retirement Of Alabama accumulated 132,071 shares. Peak6 Invs Lp has invested 0% of its portfolio in SM Energy Company (NYSE:SM). Moreover, Winfield has 0% invested in SM Energy Company (NYSE:SM) for 50 shares. Capital Rech Global Investors holds 0.05% or 9.07M shares. Point72 Asia (Hong Kong) Limited stated it has 0.03% of its portfolio in SM Energy Company (NYSE:SM). D E Shaw & Co Inc invested in 0% or 80,204 shares. Barclays Public Ltd Company has 69,975 shares.

Fir Tree Inc, which manages about $18.45 billion and $3.51 billion US Long portfolio, decreased its stake in Herc Hldgs Inc by 83,974 shares to 1.18M shares, valued at $57.99M in 2017Q3, according to the filing. It also reduced its holding in Halcon Res Corp by 4.52M shares in the quarter, leaving it with 2.35 million shares, and cut its stake in Stone Energy Corp.

Since August 11, 2017, it had 0 insider purchases, and 2 insider sales for $162,688 activity. $96,988 worth of stock was sold by HUDAK JAMES L on Friday, August 11.

Investors sentiment increased to 1.01 in Q3 2017. Its up 0.67, from 0.34 in 2017Q2. It increased, as 23 investors sold CIT shares while 91 reduced holdings. 43 funds opened positions while 72 raised stakes. 134.52 million shares or 7.51% less from 145.43 million shares in 2017Q2 were reported. 32,082 are owned by Rafferty Asset Management Limited Liability Company. Birch Run Capital Advisors Limited Partnership reported 5.05% of its portfolio in CIT Group Inc. (NYSE:CIT). Oaktree LP accumulated 100,000 shares. Daiwa Group holds 4,200 shares. Bar Harbor Trust Svcs has invested 3.76% in CIT Group Inc. (NYSE:CIT). Invesco reported 0% stake. 4,691 were accumulated by Williams Jones Associates Limited Com. Moreover, Lombard Odier Asset (Usa) has 0.13% invested in CIT Group Inc. (NYSE:CIT). Ghp Inv Advsr has 0.12% invested in CIT Group Inc. (NYSE:CIT) for 16,399 shares. Salzhauer Michael reported 0.3% stake. Northern Tru Corp reported 952,899 shares. Glg Ltd reported 0.11% in CIT Group Inc. (NYSE:CIT). Nomura Asset Mngmt Ltd has invested 0.02% in CIT Group Inc. (NYSE:CIT). Aperio Group Inc Lc holds 104,661 shares. Pictet Asset holds 0.01% of its portfolio in CIT Group Inc. (NYSE:CIT) for 55,700 shares.

Price Michael F, which manages about $722.19M US Long portfolio, decreased its stake in Dolby Laboratories Inc. (NYSE:DLB) by 100,700 shares to 848,255 shares, valued at $48.79 million in 2017Q3, according to the filing. It also reduced its holding in Boston Scientific Corp. (NYSE:BSX) by 215,800 shares in the quarter, leaving it with 284,200 shares, and cut its stake in National Presto Industries Inc. (NYSE:NPK).

Among 19 analysts covering CIT Group (NYSE:CIT), 8 have Buy rating, 1 Sell and 10 Hold. Therefore 42% are positive. CIT Group had 56 analyst reports since July 23, 2015 according to SRatingsIntel. The stock of CIT Group Inc. (NYSE:CIT) earned “Outperform” rating by Oppenheimer on Tuesday, October 6. The company was maintained on Thursday, June 29 by Credit Suisse. The firm has “Hold” rating given on Thursday, January 21 by Deutsche Bank. The firm has “Hold” rating given on Friday, May 26 by Keefe Bruyette & Woods. The stock has “Neutral” rating by Sterne Agee CRT on Monday, March 28. The firm earned “Equal-Weight” rating on Monday, September 18 by Morgan Stanley. Wells Fargo initiated the shares of CIT in report on Friday, December 1 with “Hold” rating. The rating was maintained by JMP Securities with “Market Outperform” on Thursday, July 13. The firm has “Buy” rating by Stifel Nicolaus given on Monday, November 9. The firm has “Buy” rating by DA Davidson given on Friday, August 21.

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