Amira Nature Foods (ANFI) Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Amira Nature Foods (NYSE:ANFI) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

According to Zacks, “Amira Nature Foods Ltd. provides packaged Indian specialty rice. The Company sells Basmati rice, premium long-grain rice under their flagship Amira brand as well as under other third party brands. It participates across the entire rice supply chain from the procurement of paddy to its storage, aging, processing into rice, packaging, distribution and marketing. Amira Nature Foods Ltd. is headquartered in Dubai, United Arab Emirates. “

Separately, Jefferies Group reiterated a buy rating and issued a $8.00 target price on shares of Amira Nature Foods in a research note on Tuesday, September 26th.

Amira Nature Foods (NYSE:ANFI) traded down $0.02 during midday trading on Tuesday, hitting $4.05. 192,496 shares of the company traded hands, compared to its average volume of 153,600. Amira Nature Foods has a twelve month low of $4.02 and a twelve month high of $7.05.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN acquired a new position in Amira Nature Foods in the third quarter worth about $210,000. Nationwide Fund Advisors acquired a new position in Amira Nature Foods in the third quarter worth about $182,000. Ameriprise Financial Inc. raised its position in Amira Nature Foods by 30.1% in the second quarter. Ameriprise Financial Inc. now owns 102,130 shares of the company’s stock worth $566,000 after purchasing an additional 23,630 shares in the last quarter. Finally, GSA Capital Partners LLP raised its position in Amira Nature Foods by 104.2% in the second quarter. GSA Capital Partners LLP now owns 36,836 shares of the company’s stock worth $204,000 after purchasing an additional 18,800 shares in the last quarter. Institutional investors and hedge funds own 13.01% of the company’s stock.

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About Amira Nature Foods

Amira Nature Foods Ltd is primarily engaged in the business of processing and selling packaged Indian specialty rice, primarily basmati rice and other food products. The Company sells Basmati rice and other specialty rice, under its Amira brand, as well as under other third-party brands. It also sells non-basmati rice.

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