Iridian Asset Management Cut Blackberry LTD (BBRY) Holding By $32.25 Million; Michael Kors Holdings Limited (KORS) Shorts Increased By 17.57%

November 15, 2017 - By Adrian Erickson

Iridian Asset Management Llc decreased Blackberry Ltd (BBRY) stake by 13.6% reported in 2017Q2 SEC filing. Iridian Asset Management Llc sold 3.58 million shares as Blackberry Ltd (BBRY)’s stock rose 38.58%. The Iridian Asset Management Llc holds 22.76 million shares with $227.33 million value, down from 26.34 million last quarter. Blackberry Ltd now has $5.52B valuation. The stock decreased 2.67% or $0.29 during the last trading session, reaching $10.4. About 15 shares traded. BlackBerry Ltd (NASDAQ:BBRY) has risen 55.16% since November 15, 2016 and is uptrending. It has outperformed by 38.46% the S&P500.

Michael Kors Holdings Limited (NYSE:KORS) had an increase of 17.57% in short interest. KORS’s SI was 11.50 million shares in November as released by FINRA. Its up 17.57% from 9.78M shares previously. With 1.80M avg volume, 6 days are for Michael Kors Holdings Limited (NYSE:KORS)’s short sellers to cover KORS’s short positions. The stock increased 1.48% or $0.8 during the last trading session, reaching $54.89. About 100 shares traded. Michael Kors Holdings Ltd (NYSE:KORS) has declined 10.54% since November 15, 2016 and is downtrending. It has underperformed by 27.24% the S&P500.

Investors sentiment decreased to 0.7 in Q2 2017. Its down 0.14, from 0.84 in 2017Q1. It dropped, as 52 investors sold Michael Kors Holdings Ltd shares while 131 reduced holdings. 37 funds opened positions while 92 raised stakes. 123.70 million shares or 2.48% less from 126.85 million shares in 2017Q1 were reported. Martingale Asset Mgmt L P reported 0.05% of its portfolio in Michael Kors Holdings Ltd (NYSE:KORS). Acadian Asset Management Ltd Co has 0% invested in Michael Kors Holdings Ltd (NYSE:KORS). Lsv Asset has invested 0.02% of its portfolio in Michael Kors Holdings Ltd (NYSE:KORS). 804,080 were reported by Schwab Charles Investment Management. The Arizona-based Arizona State Retirement has invested 0.02% in Michael Kors Holdings Ltd (NYSE:KORS). Winfield Assocs stated it has 0.01% of its portfolio in Michael Kors Holdings Ltd (NYSE:KORS). Clearbridge Invs Ltd Liability Com reported 0% of its portfolio in Michael Kors Holdings Ltd (NYSE:KORS). Riverhead Mngmt Ltd Limited Liability Company holds 0.21% or 116,529 shares. Pathstone Family Office Ltd Co reported 7 shares. British Columbia Invest Mgmt holds 34,764 shares. Exane Derivatives accumulated 62,891 shares or 0% of the stock. Dimensional Fund Advisors Ltd Partnership has 0.02% invested in Michael Kors Holdings Ltd (NYSE:KORS). 18,940 were reported by Nomura Asset Mngmt Limited. Ny State Common Retirement Fund has 486,786 shares. World Asset Mngmt invested 0.02% in Michael Kors Holdings Ltd (NYSE:KORS).

Michael Kors Holdings Limited is a designer, marketer, distributor and retailer of branded women’s apparel and accessories and men’s apparel bearing the Michael Kors tradename and related trademarks MICHAEL KORS, MICHAEL MICHAEL KORS, and various other related trademarks and logos. The company has market cap of $8.35 billion. The Firm operates through three divisions: retail, wholesale and licensing. It has a 15.29 P/E ratio. The Retail activities consist of collection stores and lifestyle stores, including concessions and outlet stores, located primarily in the Americas , Europe and Asia, as well as e-commerce.

Among 33 analysts covering Michael Kors Holdings Ltd (NYSE:KORS), 8 have Buy rating, 2 Sell and 23 Hold. Therefore 24% are positive. Michael Kors Holdings Ltd had 98 analyst reports since July 21, 2015 according to SRatingsIntel. CLSA initiated the stock with “Sell” rating in Thursday, September 29 report. Oppenheimer maintained the shares of KORS in report on Tuesday, July 25 with “Hold” rating. Jefferies maintained the shares of KORS in report on Friday, October 27 with “Buy” rating. PiperJaffray downgraded it to “Neutral” rating and $48 target in Tuesday, January 3 report. Piper Jaffray maintained it with “Neutral” rating and $38 target in Monday, August 3 report. The rating was maintained by Canaccord Genuity on Tuesday, November 7 with “Buy”. The firm has “Hold” rating by RBC Capital Markets given on Wednesday, July 5. The rating was maintained by JP Morgan with “Neutral” on Thursday, August 11. Wells Fargo maintained the shares of KORS in report on Tuesday, September 26 with “Hold” rating. The stock of Michael Kors Holdings Ltd (NYSE:KORS) earned “Neutral” rating by Piper Jaffray on Tuesday, January 19.

Analysts await BlackBerry Ltd (NYSE:BB) to report earnings on December, 19. They expect $-0.03 earnings per share, down 200.00% or $0.02 from last year’s $-0.01 per share. After $0.04 actual earnings per share reported by BlackBerry Ltd for the previous quarter, Wall Street now forecasts -175.00% negative EPS growth.

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