Mackenzie Financial Corp Cuts Holdings in Advisory Board (ABCO)

Mackenzie Financial Corp cut its stake in shares of Advisory Board (NASDAQ:ABCO) by 2.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,275,481 shares of the business services provider’s stock after selling 27,500 shares during the period. Mackenzie Financial Corp owned 3.13% of Advisory Board worth $68,398,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ABCO. Janus Henderson Group PLC acquired a new stake in shares of Advisory Board in the second quarter valued at approximately $139,617,000. OxFORD Asset Management LLP raised its position in shares of Advisory Board by 1,251.2% in the third quarter. OxFORD Asset Management LLP now owns 743,632 shares of the business services provider’s stock valued at $39,894,000 after buying an additional 688,597 shares in the last quarter. Omni Partners LLP acquired a new stake in shares of Advisory Board in the third quarter valued at approximately $27,388,000. First Eagle Investment Management LLC raised its position in shares of Advisory Board by 46.4% in the second quarter. First Eagle Investment Management LLC now owns 779,208 shares of the business services provider’s stock valued at $40,129,000 after buying an additional 247,000 shares in the last quarter. Finally, Vivaldi Asset Management LLC acquired a new stake in shares of Advisory Board in the third quarter valued at approximately $12,905,000. Hedge funds and other institutional investors own 95.50% of the company’s stock.

A number of equities research analysts have recently weighed in on the stock. Cantor Fitzgerald reiterated a “hold” rating on shares of Advisory Board in a research report on Friday, November 17th. Robert W. Baird reiterated a “hold” rating and issued a $54.00 price target on shares of Advisory Board in a research report on Friday, November 10th. Wells Fargo & Company downgraded shares of Advisory Board from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $57.00 to $54.00 in a research report on Monday, October 2nd. KeyCorp reiterated a “hold” rating on shares of Advisory Board in a research report on Friday, September 1st. Finally, Canaccord Genuity downgraded shares of Advisory Board from a “buy” rating to a “hold” rating and dropped their price target for the company from $56.00 to $54.29 in a research report on Tuesday, August 29th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $51.95.

Advisory Board (NASDAQ ABCO) opened at $53.83 on Tuesday. Advisory Board has a 1 year low of $30.40 and a 1 year high of $59.50. The company has a market cap of $2,190.00, a P/E ratio of 32.23, a price-to-earnings-growth ratio of 2.40 and a beta of 1.34. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.07.

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Advisory Board Company Profile

The Advisory Board Company is a provider of software and solutions to the healthcare and higher education industries. The Company offers subscription-based membership programs, software and data-enabled services. All of its programs are rooted in best practices and extends across four areas, including Best practices research, Technology, Data-enabled services and Consulting services.

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Institutional Ownership by Quarter for Advisory Board (NASDAQ:ABCO)

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