The Clinton Group Inc. Invests $277,000 in Alcoa Corp. (AA)

The Clinton Group Inc. Invests $277,000 in Alcoa Corp. (AA)

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. increased its position in shares of Alcoa Corp. by 3.3% in the first quarter. Pacer Advisors Inc. now owns 4,140 shares of the industrial products company’s stock valued at $142,000 after buying an additional 132 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Alcoa Corp. during the first quarter valued at about $267,000. Private Advisor Group LLC increased its position in shares of Alcoa Corp. by 16.3% in the first quarter. Private Advisor Group LLC now owns 9,225 shares of the industrial products company’s stock valued at $312,000 after buying an additional 1,294 shares in the last quarter. Oxford Asset Management bought a new position in shares of Alcoa Corp. during the first quarter valued at about $499,000. Finally, Thompson Davis & CO. Inc. increased its position in shares of Alcoa Corp. by 3,375.0% in the first quarter. Thompson Davis & CO. Inc. now owns 22,414 shares of the industrial products company’s stock valued at $771,000 after buying an additional 21,769 shares in the last quarter.

Clinton Group Inc. acquired a new stake in Alcoa Corp. (NYSE:AA) during the first quarter, Holdings Channel reports. The institutional investor acquired 8,038 shares of the industrial products company’s stock, valued at approximately $277,000.

Shares of Alcoa Corp. (NYSE:AA) opened at 31.54 on Thursday. The stock has a market capitalization of $5.81 billion and a PE ratio of 169.57. The stock’s 50 day moving average is $32.60 and its 200 day moving average is $33.28. Alcoa Corp. has a 52 week low of $20.00 and a 52 week high of $39.78.

Alcoa Corp. (NYSE:AA) last released its quarterly earnings results on Monday, April 24th. The industrial products company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.15. The business had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.96 billion. The firm’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.07 EPS. Analysts anticipate that Alcoa Corp. will post $2.81 EPS for the current fiscal year.

Several brokerages recently issued reports on AA. Citigroup Inc. restated a “buy” rating and set a $45.00 price objective on shares of Alcoa Corp. in a research report on Friday, May 19th. BMO Capital Markets reiterated a “buy” rating and issued a $45.00 price target on shares of Alcoa Corp. in a report on Friday, June 2nd. Vetr downgraded Alcoa Corp. from a “buy” rating to a “hold” rating and set a $37.55 price target for the company. in a report on Tuesday, February 21st. Zacks Investment Research upgraded Alcoa Corp. from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Tuesday, April 11th. Finally, Clarkson Capital began coverage on Alcoa Corp. in a report on Monday, May 22nd. They issued a “buy” rating and a $43.00 price target for the company. Five research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $36.50.

Want to see what other hedge funds are holding AA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alcoa Corp. (NYSE:AA).

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