Victory Capital Management Inc. raised its stake in MedReleaf Corp. (NYSE:LEA) by 77.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 120,012 shares of the company’s stock after acquiring an additional 52,469 shares during the period. Victory Capital Management Inc. owned approximately 0.18% of MedReleaf Corp. worth $20,772,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LEA. Balyasny Asset Management LLC grew its stake in shares of MedReleaf Corp. by 7,465.0% in the second quarter. Balyasny Asset Management LLC now owns 716,175 shares of the company’s stock worth $101,754,000 after acquiring an additional 706,708 shares during the last quarter. Koch Industries Inc. purchased a new stake in shares of MedReleaf Corp. in the second quarter worth $485,000. Ardevora Asset Management LLP purchased a new stake in shares of MedReleaf Corp. in the second quarter worth $34,540,000. Harbour Capital Advisors LLC grew its stake in shares of MedReleaf Corp. by 14,108.0% in the second quarter. Harbour Capital Advisors LLC now owns 223,776 shares of the company’s stock worth $1,575,000 after acquiring an additional 222,201 shares during the last quarter. Finally, APG Asset Management N.V. grew its stake in shares of MedReleaf Corp. by 25.3% in the third quarter. APG Asset Management N.V. now owns 788,621 shares of the company’s stock worth $136,495,000 after acquiring an additional 159,000 shares during the last quarter.
MedReleaf Corp. (LEA) opened at C$175.43 on Friday. MedReleaf Corp. has a 12-month low of C$117.53 and a 12-month high of C$178.80.
MedReleaf Corp. (NYSE:LEA) last announced its earnings results on Wednesday, October 25th. The company reported C$3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of C$3.80 by C$0.16. The business had revenue of C$4.98 billion for the quarter, compared to analysts’ expectations of C$4.84 billion. MedReleaf Corp. had a return on equity of 31.60% and a net margin of 6.17%. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period last year, the firm posted $3.19 earnings per share.
In other news, Director Henry D. G. Wallace sold 4,139 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of C$166.71, for a total value of C$690,012.69. Following the transaction, the director now owns 4,100 shares of the company’s stock, valued at C$683,511. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mel Stephens sold 2,411 shares of the firm’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of C$172.88, for a total value of C$416,813.68. Following the completion of the transaction, the senior vice president now directly owns 44,484 shares in the company, valued at approximately C$7,690,393.92. The disclosure for this sale can be found here. Insiders sold 9,404 shares of company stock worth $1,601,681 over the last three months.
Several research firms recently commented on LEA. Zacks Investment Research raised MedReleaf Corp. from a “hold” rating to a “buy” rating and set a $195.00 price objective on the stock in a research report on Wednesday, October 18th. Barclays PLC set a $171.00 price objective on MedReleaf Corp. and gave the company a “hold” rating in a research report on Friday, October 20th. Jefferies Group LLC began coverage on MedReleaf Corp. in a research report on Thursday, September 28th. They set a “buy” rating and a $197.00 price objective on the stock. KeyCorp increased their price objective on MedReleaf Corp. from $180.00 to $184.00 and gave the company a “buy” rating in a research report on Friday, October 13th. Finally, BidaskClub cut MedReleaf Corp. from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of C$173.13.
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MedReleaf Corp. Company 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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