Gabelli Funds LLC Has $1.32 Million Stake in Mallinckrodt PLC (MNK)

Gabelli Funds LLC decreased its position in Mallinckrodt PLC (NYSE:MNK) by 68.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,349 shares of the company’s stock after selling 127,651 shares during the quarter. Gabelli Funds LLC owned 0.06% of Mallinckrodt worth $1,316,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MNK. Prudential Financial Inc. raised its position in Mallinckrodt by 114.9% in the third quarter. Prudential Financial Inc. now owns 1,379,978 shares of the company’s stock valued at $51,569,000 after purchasing an additional 737,791 shares during the period. LSV Asset Management raised its position in Mallinckrodt by 24.8% in the fourth quarter. LSV Asset Management now owns 2,621,917 shares of the company’s stock valued at $59,150,000 after purchasing an additional 520,697 shares during the period. Alyeska Investment Group L.P. raised its position in Mallinckrodt by 45.8% in the third quarter. Alyeska Investment Group L.P. now owns 1,535,583 shares of the company’s stock valued at $57,385,000 after purchasing an additional 482,591 shares during the period. FMR LLC raised its position in Mallinckrodt by 113.3% in the second quarter. FMR LLC now owns 878,150 shares of the company’s stock valued at $39,350,000 after purchasing an additional 466,375 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Mallinckrodt by 46.6% in the third quarter. Bank of New York Mellon Corp now owns 1,169,575 shares of the company’s stock valued at $43,708,000 after purchasing an additional 371,959 shares during the period. 97.38% of the stock is currently owned by institutional investors.

Mallinckrodt PLC (NYSE:MNK) opened at $16.15 on Thursday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.05 and a current ratio of 1.38. The company has a market cap of $1,530.00, a price-to-earnings ratio of -807.50, a P/E/G ratio of 0.31 and a beta of 1.04. Mallinckrodt PLC has a 12 month low of $15.27 and a 12 month high of $55.32.

A number of research firms have recently weighed in on MNK. Barclays lowered Mallinckrodt from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $23.00 to $20.00 in a research report on Friday, February 2nd. Zacks Investment Research raised Mallinckrodt from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Canaccord Genuity set a $24.00 price objective on Mallinckrodt and gave the stock a “hold” rating in a research report on Tuesday, November 14th. Cantor Fitzgerald set a $42.00 price objective on Mallinckrodt and gave the stock a “buy” rating in a research report on Tuesday, December 26th. Finally, Wells Fargo & Co reaffirmed a “hold” rating on shares of Mallinckrodt in a research report on Monday, January 1st. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $43.10.

In other news, Director Dr Kneeland Youngblood bought 4,560 shares of the stock in a transaction that occurred on Tuesday, November 28th. The stock was purchased at an average price of $21.94 per share, for a total transaction of $100,046.40. Following the completion of the purchase, the director now owns 19,789 shares in the company, valued at approximately $434,170.66. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.53% of the company’s stock.

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About Mallinckrodt

Mallinckrodt public limited company develops, manufactures, markets and distributes branded and generic specialty pharmaceutical products and therapies. The Company focuses on various therapeutic areas, such as autoimmune and rare disease specialty areas, including neurology, rheumatology, nephrology, ophthalmology and pulmonology; immunotherapy and neonatal critical care respiratory therapies; analgesics and hemostasis products, and central nervous system drugs.

Institutional Ownership by Quarter for Mallinckrodt (NYSE:MNK)

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