Malaga Cove Capital LLC reduced its position in Brink’s (NYSE:BCO) by 3.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 73,231 shares of the business services provider’s stock after selling 2,706 shares during the period. Brink’s accounts for about 2.8% of Malaga Cove Capital LLC’s holdings, making the stock its 4th biggest holding. Malaga Cove Capital LLC owned 0.14% of Brink’s worth $5,098,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of the company. Clinton Group Inc. acquired a new stake in Brink’s during the 3rd quarter valued at $798,000. Northern Trust Corp grew its holdings in Brink’s by 7.9% during the 2nd quarter. Northern Trust Corp now owns 803,368 shares of the business services provider’s stock valued at $64,068,000 after buying an additional 58,759 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Brink’s by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 569,097 shares of the business services provider’s stock valued at $45,385,000 after buying an additional 8,182 shares during the last quarter. California Public Employees Retirement System grew its holdings in Brink’s by 7.4% during the 2nd quarter. California Public Employees Retirement System now owns 126,674 shares of the business services provider’s stock valued at $10,102,000 after buying an additional 8,700 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Brink’s by 263.9% during the 2nd quarter. Millennium Management LLC now owns 95,962 shares of the business services provider’s stock valued at $7,653,000 after buying an additional 69,589 shares during the last quarter. 98.13% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently weighed in on BCO shares. Zacks Investment Research lowered Brink’s from a “hold” rating to a “sell” rating in a research report on Friday, July 20th. Berenberg Bank started coverage on Brink’s in a research report on Wednesday, September 12th. They issued a “buy” rating and a $90.00 target price on the stock. ValuEngine lowered Brink’s from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. SunTrust Banks cut their price objective on Brink’s to $90.00 and set a “buy” rating on the stock in a research report on Monday, October 15th. Finally, TheStreet lowered Brink’s from a “b-” rating to a “c” rating in a research report on Wednesday, August 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $94.33.
In other news, CFO Ronald James Domanico purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, September 7th. The stock was acquired at an average cost of $69.45 per share, for a total transaction of $138,900.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.48% of the stock is currently owned by company insiders.
Shares of Brink’s stock opened at $69.19 on Wednesday. The company has a debt-to-equity ratio of 5.89, a current ratio of 1.53 and a quick ratio of 1.53. The stock has a market cap of $3.50 billion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 1.35 and a beta of 1.60. Brink’s has a 1-year low of $61.47 and a 1-year high of $88.10.
Brink’s (NYSE:BCO) last announced its earnings results on Wednesday, October 24th. The business services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.11. The company had revenue of $852.00 million during the quarter, compared to the consensus estimate of $843.96 million. Brink’s had a positive return on equity of 56.86% and a negative net margin of 3.46%. The company’s revenue was up .3% on a year-over-year basis. During the same period last year, the firm earned $0.83 earnings per share. On average, analysts predict that Brink’s will post 3.32 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Friday, November 9th will be paid a $0.15 dividend. The ex-dividend date is Thursday, November 8th. This represents a $0.60 dividend on an annualized basis and a yield of 0.87%. Brink’s’s dividend payout ratio (DPR) is 19.80%.
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The Brink's Company provides secure transportation, cash management, and other security-related services worldwide. The company offers cash-in-transit services, including armored vehicle transportation of valuables; automated teller machine (ATM) services, such as cash replenishment, replenishment forecasting, cash optimization, ATM remote monitoring, service call dispatching, transaction processing, installation, and first and second line maintenance; and network infrastructure services.
See Also: Intrinsic Value
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