BlackRock Inc. increased its position in shares of Cision Ltd (NYSE:CISN) by 338.3% during the 2nd quarter, Holdings Channel reports. The fund owned 2,639,295 shares of the company’s stock after buying an additional 2,037,189 shares during the quarter. BlackRock Inc.’s holdings in Cision were worth $39,457,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Koch Industries Inc. bought a new position in Cision during the 1st quarter worth approximately $120,000. Strs Ohio bought a new position in Cision in the second quarter valued at approximately $171,000. Rhumbline Advisers bought a new position in Cision in the second quarter valued at approximately $534,000. OMERS ADMINISTRATION Corp bought a new position in Cision in the second quarter valued at approximately $564,000. Finally, Engineers Gate Manager LP bought a new position in Cision in the second quarter valued at approximately $660,000. 42.88% of the stock is currently owned by institutional investors and hedge funds.
Shares of CISN opened at $15.48 on Thursday. The company has a debt-to-equity ratio of 3.90, a quick ratio of 0.81 and a current ratio of 0.81. Cision Ltd has a twelve month low of $11.13 and a twelve month high of $18.28. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 27.16 and a beta of 0.19.
Cision (NYSE:CISN) last announced its quarterly earnings results on Wednesday, August 8th. The company reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.01. Cision had a negative net margin of 12.62% and a positive return on equity of 8.79%. The firm had revenue of $187.50 million for the quarter, compared to analyst estimates of $182.67 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The business’s revenue was up 19.2% on a year-over-year basis. Analysts anticipate that Cision Ltd will post 0.82 earnings per share for the current year.
In other news, Director L. Dyson Dryden sold 35,911 shares of Cision stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $15.44, for a total value of $554,465.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark Ein sold 715,599 shares of Cision stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $15.44, for a total transaction of $11,048,848.56. The disclosure for this sale can be found here. 6.70% of the stock is owned by company insiders.
A number of brokerages have weighed in on CISN. Zacks Investment Research lowered shares of Cision from a “hold” rating to a “sell” rating in a research note on Monday. Deutsche Bank lowered shares of Cision from a “buy” rating to a “hold” rating and lifted their price target for the company from $16.00 to $18.00 in a research note on Monday, October 8th. William Blair began coverage on shares of Cision in a research note on Wednesday, August 15th. They issued an “outperform” rating on the stock. Citigroup began coverage on shares of Cision in a research note on Thursday, August 2nd. They issued a “buy” rating and a $21.00 price target on the stock. Finally, JPMorgan Chase & Co. began coverage on shares of Cision in a research note on Monday, July 23rd. They issued a “neutral” rating and a $18.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $18.30.
Cision Ltd. provides public relations (PR) software, media distribution, media intelligence, and related professional services worldwide. The company enables public relations and communications professionals to manage, execute, and measure their strategic PR and communications programs. It offers Cision Communications Cloud, an earned media cloud-based platform that brands can use to build relationships with influencers and buyers in order to amplify their marketplace influence; and provides media database that offers access to influencers when planning a campaign, as well as to schedule and record various interactions with contacts.
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