First Quadrant L P CA trimmed its position in MedReleaf Corp. (NYSE:LEA) by 82.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,632 shares of the company’s stock after selling 45,021 shares during the quarter. First Quadrant L P CA’s holdings in MedReleaf Corp. were worth $1,667,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. increased its holdings in shares of MedReleaf Corp. by 6.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 831 shares of the company’s stock worth $118,000 after purchasing an additional 48 shares during the last quarter. Toronto Dominion Bank increased its stake in MedReleaf Corp. by 10.9% during the second quarter. Toronto Dominion Bank now owns 852 shares of the company’s stock worth $121,000 after acquiring an additional 84 shares during the last quarter. Mountain Capital Investment Advisors Inc bought a new stake in MedReleaf Corp. during the second quarter worth approximately $126,000. Global X Management Co. LLC increased its stake in MedReleaf Corp. by 16.5% during the second quarter. Global X Management Co. LLC now owns 1,023 shares of the company’s stock worth $145,000 after acquiring an additional 145 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of MedReleaf Corp. by 3.9% during the second quarter. Parallel Advisors LLC now owns 1,117 shares of the company’s stock valued at $166,000 after buying an additional 42 shares during the period.
In other news, Director Henry D. G. Wallace sold 4,139 shares of MedReleaf Corp. stock in a transaction on Monday, September 18th. The shares were sold at an average price of C$166.71, for a total transaction of C$690,012.69. Following the completion of the sale, the director now directly owns 4,100 shares of the company’s stock, valued at approximately C$683,511. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jonathan F. Foster sold 2,854 shares of MedReleaf Corp. stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of C$173.39, for a total transaction of C$494,855.06. Following the sale, the director now owns 7,761 shares in the company, valued at C$1,345,679.79. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,404 shares of company stock valued at $1,601,681.
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Several brokerages have issued reports on LEA. Cowen and Company restated a “buy” rating and set a $196.00 target price on shares of MedReleaf Corp. in a research report on Friday, October 27th. UBS AG lowered MedReleaf Corp. from a “buy” rating to a “neutral” rating and boosted their price target for the company from $158.00 to $182.00 in a report on Tuesday, October 3rd. Zacks Investment Research downgraded shares of MedReleaf Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Jefferies Group LLC initiated coverage on shares of MedReleaf Corp. in a research note on Thursday, September 28th. They issued a “buy” rating and a $197.00 price objective for the company. Finally, Buckingham Research downgraded MedReleaf Corp. from a “buy” rating to a “neutral” rating and set a $175.00 price target on the stock. in a research report on Tuesday, September 26th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. MedReleaf Corp. presently has a consensus rating of “Hold” and an average price target of C$173.13.
MedReleaf Corp. (LEA) opened at C$175.43 on Friday. MedReleaf Corp. has a 1 year low of C$117.53 and a 1 year high of C$178.80.
MedReleaf Corp. (NYSE:LEA) last issued its quarterly earnings results on Wednesday, October 25th. The company reported C$3.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$3.80 by C$0.16. MedReleaf Corp. had a net margin of 6.17% and a return on equity of 31.60%. The company had revenue of C$4.98 billion during the quarter, compared to analysts’ expectations of C$4.84 billion. During the same quarter last year, the company posted $3.19 EPS. The firm’s revenue was up 10.1% compared to the same quarter last year.
MedReleaf Corp. Profile
Lear Corporation (Lear) is a supplier to the global automotive industry. The Company is engaged in supplying seating, electrical distribution systems and electronic modules, as well as related sub-systems, components and software, to automotive manufacturers. The Company’s segments include Seating and E-Systems.
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