Geode Capital Management Increases Position in Red Hat (RHT); Kar Auction Svcs (KAR) Market Value Declined While Suvretta Capital Management Trimmed by $1.97 Million Its Position

February 15, 2018 - By Linda Rogers

Aaron Cowen decreased its stake in Kar Auction Svcs Inc (KAR) by 5.51% based on its latest 2017Q3 regulatory filing with the SEC. Suvretta Capital Management Llc sold 41,930 shares as the company’s stock declined 7.64% while stock markets rallied. The hedge fund run by Aaron Cowen held 719,000 shares of the consumer durables company at the end of 2017Q3, valued at $34.33 million, down from 760,930 at the end of the previous reported quarter. Suvretta Capital Management Llc who had been investing in Kar Auction Svcs Inc for a number of months, seems to be less bullish one the $6.95 billion market cap company. The stock increased 1.50% or $0.76 during the last trading session, reaching $51.41. About 1.20 million shares traded or 56.71% up from the average. KAR Auction Services, Inc. (NYSE:KAR) has risen 7.49% since February 15, 2017 and is uptrending. It has underperformed by 9.21% the S&P500.

Geode Capital Management Llc increased its stake in Red Hat Inc (RHT) by 5.03% based on its latest 2017Q3 regulatory filing with the SEC. Geode Capital Management Llc bought 89,687 shares as the company’s stock rose 4.33% with the market. The institutional investor held 1.87M shares of the technology company at the end of 2017Q3, valued at $207.35M, up from 1.78 million at the end of the previous reported quarter. Geode Capital Management Llc who had been investing in Red Hat Inc for a number of months, seems to be bullish on the $24.82B market cap company. The stock increased 4.48% or $6.01 during the last trading session, reaching $140.2. About 1.16 million shares traded. Red Hat, Inc. (NYSE:RHT) has risen 18.97% since February 15, 2017 and is uptrending. It has outperformed by 2.27% the S&P500.

Analysts await KAR Auction Services, Inc. (NYSE:KAR) to report earnings on February, 20. They expect $0.52 EPS, up 15.56% or $0.07 from last year’s $0.45 per share. KAR’s profit will be $70.34M for 24.72 P/E if the $0.52 EPS becomes a reality. After $0.57 actual EPS reported by KAR Auction Services, Inc. for the previous quarter, Wall Street now forecasts -8.77% negative EPS growth.

Among 9 analysts covering KAR Auction Services (NYSE:KAR), 6 have Buy rating, 0 Sell and 3 Hold. Therefore 67% are positive. KAR Auction Services had 24 analyst reports since July 24, 2015 according to SRatingsIntel. The rating was maintained by Jefferies on Wednesday, July 19 with “Buy”. The stock of KAR Auction Services, Inc. (NYSE:KAR) has “Buy” rating given on Friday, July 24 by Sterne Agee CRT. Jefferies initiated the shares of KAR in report on Monday, January 18 with “Buy” rating. The firm earned “Buy” rating on Friday, January 15 by Jefferies. Sterne Agee CRT maintained KAR Auction Services, Inc. (NYSE:KAR) on Monday, May 2 with “Buy” rating. Jefferies maintained the stock with “Buy” rating in Thursday, October 12 report. Gabelli downgraded the stock to “Hold” rating in Thursday, November 2 report. Goldman Sachs downgraded KAR Auction Services, Inc. (NYSE:KAR) on Friday, February 12 to “Neutral” rating. As per Tuesday, January 16, the company rating was maintained by Stephens. The firm has “Positive” rating given on Friday, August 26 by Susquehanna.

Suvretta Capital Management Llc, which manages about $998.31 million and $3.54B US Long portfolio, upped its stake in Comcast Corp New (NASDAQ:CMCSA) by 2.48M shares to 9.31M shares, valued at $358.37 million in 2017Q3, according to the filing. It also increased its holding in Salesforce Com Inc (NYSE:CRM) by 619,520 shares in the quarter, for a total of 2.40 million shares, and has risen its stake in Restaurant Brands Intl Inc.

Investors sentiment decreased to 1.33 in 2017 Q3. Its down 0.04, from 1.37 in 2017Q2. It worsened, as 25 investors sold KAR shares while 87 reduced holdings. 48 funds opened positions while 101 raised stakes. 129.67 million shares or 1.77% less from 132.02 million shares in 2017Q2 were reported. Victory Mgmt Incorporated holds 0.19% in KAR Auction Services, Inc. (NYSE:KAR) or 1.74M shares. Employees Retirement Association Of Colorado holds 0.09% or 252,691 shares. Teacher Retirement Systems Of Texas invested in 88,340 shares. Wellington Mgmt Gp Llp accumulated 1.40M shares or 0.02% of the stock. Washington Com reported 0.72% of its portfolio in KAR Auction Services, Inc. (NYSE:KAR). Thompson Davis & Communications holds 47 shares. Cibc Asset holds 0% of its portfolio in KAR Auction Services, Inc. (NYSE:KAR) for 4,913 shares. Thompson Siegel & Walmsley Llc owns 588,276 shares or 0.34% of their US portfolio. Glenmede Na accumulated 199 shares or 0% of the stock. Alkeon Cap Llc reported 1.04 million shares or 0.37% of all its holdings. Columbia Prtn L L C Invest Mgmt holds 33,045 shares or 0.21% of its portfolio. Moreover, Ameriprise Finance Inc has 0.01% invested in KAR Auction Services, Inc. (NYSE:KAR). Hbk Sorce Advisory Lc invested in 0.07% or 10,074 shares. Engineers Gate Manager LP has invested 0.15% in KAR Auction Services, Inc. (NYSE:KAR). Farmers & Merchants Incorporated, Nebraska-based fund reported 221 shares.

Investors sentiment decreased to 1.23 in 2017 Q3. Its down 0.02, from 1.25 in 2017Q2. It dived, as 43 investors sold RHT shares while 154 reduced holdings. 65 funds opened positions while 177 raised stakes. 157.62 million shares or 0.16% less from 157.87 million shares in 2017Q2 were reported. First Mercantile Comm holds 10,525 shares or 0.21% of its portfolio. Macquarie reported 48,392 shares. Old Mutual Glob Investors (Uk) Limited reported 388,201 shares or 0.45% of all its holdings. Ig Invest Mgmt Limited invested in 0.01% or 14,300 shares. Creative Planning holds 0% or 6,251 shares in its portfolio. Commonwealth Comml Bank Of Australia accumulated 178 shares or 0% of the stock. Azimuth Capital Management Llc has invested 0.83% of its portfolio in Red Hat, Inc. (NYSE:RHT). Td Asset Mngmt invested in 0.06% or 335,068 shares. Clifford Swan Counsel Ltd Liability Corp accumulated 2,559 shares. Cibc World Markets stated it has 26,701 shares or 0.03% of all its holdings. Hills Savings Bank And Tru Communications stated it has 0.44% in Red Hat, Inc. (NYSE:RHT). Profund Ltd Liability Company accumulated 5,953 shares. Hancock Com has 0.51% invested in Red Hat, Inc. (NYSE:RHT). Atika Capital Mgmt Limited Liability has 25,000 shares. Adage Capital Prtn Grp Incorporated Ltd Liability has 0.07% invested in Red Hat, Inc. (NYSE:RHT) for 252,500 shares.

Geode Capital Management Llc, which manages about $270.92 billion US Long portfolio, decreased its stake in Tbph 3.25 11/01/23 (Prn) by 1.50 million shares to 3.50M shares, valued at $4.29 million in 2017Q3, according to the filing. It also reduced its holding in Barrett Business Svcs Inc (NASDAQ:BBSI) by 5,368 shares in the quarter, leaving it with 67,831 shares, and cut its stake in Lululemon Athletica Inc (NASDAQ:LULU).

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