Kornitzer Capital Management Inc. KS continued to hold its stake in shares of NEXEO SOLUTIONS (NASDAQ:NXEO) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 154,000 shares of the basic materials company’s stock at the end of the second quarter. Kornitzer Capital Management Inc. KS’s holdings in NEXEO SOLUTIONS were worth $1,278,000 at the end of the most recent quarter.
Separately, Spark Investment Management LLC bought a new stake in shares of NEXEO SOLUTIONS during the second quarter worth about $329,000. Institutional investors own 84.03% of the company’s stock.
NEXEO SOLUTIONS (NASDAQ:NXEO) opened at 8.17 on Tuesday. The firm’s market capitalization is $728.94 million. The company’s 50-day moving average price is $8.31 and its 200 day moving average price is $8.88. NEXEO SOLUTIONS has a 52-week low of $7.13 and a 52-week high of $9.94.
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A number of brokerages have recently issued reports on NXEO. Zacks Investment Research raised NEXEO SOLUTIONS from a “sell” rating to a “hold” rating in a research report on Wednesday, July 26th. Jefferies Group LLC reissued a “hold” rating and set a $9.50 price target on shares of NEXEO SOLUTIONS in a research report on Friday, June 16th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. NEXEO SOLUTIONS currently has a consensus rating of “Hold” and an average target price of $9.75.
In other NEXEO SOLUTIONS news, Director William Waldorf Astor III acquired 10,850 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The shares were acquired at an average price of $9.05 per share, with a total value of $98,192.50. Following the purchase, the director now owns 31,603 shares of the company’s stock, valued at approximately $286,007.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Park West Asset Management Llc sold 7,796 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $8.49, for a total value of $66,188.04. The disclosure for this sale can be found here. Insiders have sold a total of 2,448,693 shares of company stock worth $20,144,098 in the last ninety days. 0.07% of the stock is currently owned by company insiders.
NEXEO SOLUTIONS Company Profile
Nexeo Solutions Inc, formerly WL Ross Holding Corp., is global distributor of chemicals products in North America and Asia, and plastics products in North America, Europe, the Middle East and Africa (EMEA) and Asia. The Company provides services, such as custom blending, packaging and re-packaging, private-label manufacturing and product testing in the form of chemical analysis, product performance analysis and product development.
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