Passport Capital Has Raised Its Holding in Affiliated Managers Group (AMG) as Valuation Declined; As Emcore (EMKR) Share Value Declined, Holder Paradigm Capital Management Has Lifted Its Position

February 15, 2018 - By Ellis Scott

John Burbank increased its stake in Affiliated Managers Group (AMG) by 6.13% based on its latest 2017Q3 regulatory filing with the SEC. Passport Capital Llc bought 1,973 shares as the company’s stock declined 9.34% while stock markets rallied. The hedge fund run by John Burbank held 34,156 shares of the finance company at the end of 2017Q3, valued at $6.48M, up from 32,183 at the end of the previous reported quarter. Passport Capital Llc who had been investing in Affiliated Managers Group for a number of months, seems to be bullish on the $10.53 billion market cap company. The stock decreased 0.02% or $0.03 during the last trading session, reaching $189.42. About 309,803 shares traded. Affiliated Managers Group, Inc. (NYSE:AMG) has declined 5.60% since February 15, 2017 and is downtrending. It has underperformed by 22.30% the S&P500.

Paradigm Capital Management Inc increased its stake in Emcore Corporation (EMKR) by 13.48% based on its latest 2017Q3 regulatory filing with the SEC. Paradigm Capital Management Inc bought 274,700 shares as the company’s stock declined 1.97% while stock markets rallied. The institutional investor held 2.31 million shares of the semiconductors company at the end of 2017Q3, valued at $18.97 million, up from 2.04M at the end of the previous reported quarter. Paradigm Capital Management Inc who had been investing in Emcore Corporation for a number of months, seems to be bullish on the $140.76 million market cap company. The stock decreased 0.48% or $0.025 during the last trading session, reaching $5.175. About 77,199 shares traded. EMCORE Corporation (NASDAQ:EMKR) has risen 148.03% since February 15, 2017 and is uptrending. It has outperformed by 131.33% the S&P500.

Investors sentiment decreased to 1.1 in Q3 2017. Its down 0.08, from 1.18 in 2017Q2. It turned negative, as 17 investors sold EMKR shares while 24 reduced holdings. 15 funds opened positions while 30 raised stakes. 20.30 million shares or 1.74% more from 19.95 million shares in 2017Q2 were reported. Tower Rech Cap Ltd Company (Trc) holds 0.01% or 8,192 shares. Cortina Asset Ltd Company owns 625,527 shares. S Squared Techs Limited Liability reported 303,044 shares stake. Royal Retail Bank Of Canada has invested 0% of its portfolio in EMCORE Corporation (NASDAQ:EMKR). Kempner Mgmt Inc has 15,000 shares. Oberweis Asset Mngmt, a Illinois-based fund reported 121,200 shares. Blackrock holds 0% in EMCORE Corporation (NASDAQ:EMKR) or 1.28 million shares. Chicago Equity Prtn Ltd Liability Co holds 0.02% or 76,130 shares. Bancorporation Of Montreal Can holds 0% of its portfolio in EMCORE Corporation (NASDAQ:EMKR) for 15,352 shares. Moreover, Metropolitan Life Ins New York has 0% invested in EMCORE Corporation (NASDAQ:EMKR). Vanguard Gp accumulated 1.14 million shares or 0% of the stock. Northern Corporation accumulated 323,086 shares. California State Teachers Retirement System has 0% invested in EMCORE Corporation (NASDAQ:EMKR) for 42,591 shares. Deutsche Bancorporation Ag invested 0% of its portfolio in EMCORE Corporation (NASDAQ:EMKR). California Pub Employees Retirement, California-based fund reported 107,266 shares.

Among 5 analysts covering Emcore (NASDAQ:EMKR), 2 have Buy rating, 0 Sell and 3 Hold. Therefore 40% are positive. Emcore had 18 analyst reports since July 28, 2015 according to SRatingsIntel. The firm has “Buy” rating by Northland Capital given on Monday, October 16. Northland Capital maintained EMCORE Corporation (NASDAQ:EMKR) on Monday, November 9 with “Outperform” rating. The stock has “Buy” rating by B. Riley & Co on Friday, February 5. The rating was initiated by Northland Capital on Tuesday, July 28 with “Outperform”. Northland Capital maintained the stock with “Buy” rating in Monday, September 11 report. As per Tuesday, December 5, the company rating was downgraded by Northland Capital. The stock has “Buy” rating by Lake Street on Wednesday, February 7. The stock of EMCORE Corporation (NASDAQ:EMKR) has “Outperform” rating given on Wednesday, December 9 by Northland Capital. The firm has “Hold” rating given on Wednesday, February 7 by Northland Capital. As per Thursday, June 29, the company rating was downgraded by B. Riley & Co.

Since October 18, 2017, it had 0 insider buys, and 2 insider sales for $426,072 activity.

Paradigm Capital Management Inc, which manages about $1.15 billion US Long portfolio, decreased its stake in Citi Trends Inc. (NASDAQ:CTRN) by 144,094 shares to 832,134 shares, valued at $16.54M in 2017Q3, according to the filing. It also reduced its holding in Nature’s Sunshine Products In (NASDAQ:NATR) by 103,961 shares in the quarter, leaving it with 895,139 shares, and cut its stake in Mitel Networks Corp (NASDAQ:MITL).

Among 10 analysts covering Affiliated Managers Group (NYSE:AMG), 8 have Buy rating, 0 Sell and 2 Hold. Therefore 80% are positive. Affiliated Managers Group had 48 analyst reports since August 9, 2015 according to SRatingsIntel. The rating was maintained by Wood with “Buy” on Wednesday, April 5. The rating was maintained by Wood on Tuesday, August 2 with “Outperform”. The stock of Affiliated Managers Group, Inc. (NYSE:AMG) earned “Buy” rating by Deutsche Bank on Friday, September 9. Deutsche Bank maintained the shares of AMG in report on Wednesday, October 5 with “Buy” rating. The company was maintained on Thursday, March 17 by Deutsche Bank. Deutsche Bank maintained Affiliated Managers Group, Inc. (NYSE:AMG) rating on Friday, January 8. Deutsche Bank has “Buy” rating and $206.0 target. The firm has “Buy” rating given on Thursday, June 16 by Deutsche Bank. The stock has “Buy” rating by Jefferies on Wednesday, June 14. Wood maintained it with “Outperform” rating and $229 target in Thursday, September 3 report. The company was maintained on Wednesday, January 10 by Jefferies.

Passport Capital Llc, which manages about $4.54 billion and $362.25M US Long portfolio, decreased its stake in Advanced Micro Devices Inc (NASDAQ:AMD) by 1.90 million shares to 617,341 shares, valued at $7.87M in 2017Q3, according to the filing. It also reduced its holding in Wingstop Inc by 81,407 shares in the quarter, leaving it with 531,493 shares, and cut its stake in Barclays Bk Plc (Prn).

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