Zacks Investment Research Downgrades BBX Capital (BBX) to Hold

Zacks Investment Research cut shares of BBX Capital (NYSE:BBX) from a buy rating to a hold rating in a report published on Tuesday.

According to Zacks, “BBX Capital Corporation is a holding company whose principal holding is Bluegreen Corporation. The Company is involved in the acquisition, ownership and management of joint ventures and investments in real estate and real estate development projects, as well as acquisitions, investments and management of middle market operating businesses. BBX Capital Corporation, formerly known as BFC Financial Corporation, is based in FL, United States. “

Separately, B. Riley dropped their price target on BBX Capital from $15.00 to $14.00 and set a buy rating on the stock in a research report on Monday, October 15th.

NYSE:BBX opened at $6.05 on Tuesday. The firm has a market cap of $610.62 million, a P/E ratio of 8.40 and a beta of 1.58. BBX Capital has a 1-year low of $6.02 and a 1-year high of $10.17. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.21.

BBX Capital (NYSE:BBX) last posted its quarterly earnings results on Friday, August 3rd. The financial services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.21. The firm had revenue of $194.94 million for the quarter, compared to analyst estimates of $255.16 million. BBX Capital had a return on equity of 6.11% and a net margin of 7.74%. Equities research analysts predict that BBX Capital will post 0.24 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 19th. Investors of record on Friday, September 28th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.66%. The ex-dividend date was Thursday, September 27th. BBX Capital’s payout ratio is 5.56%.

A number of large investors have recently bought and sold shares of BBX. BlackRock Inc. increased its position in BBX Capital by 355.4% in the 2nd quarter. BlackRock Inc. now owns 3,911,716 shares of the financial services provider’s stock worth $35,323,000 after purchasing an additional 3,052,693 shares during the last quarter. Renaissance Technologies LLC increased its position in BBX Capital by 161.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,707,600 shares of the financial services provider’s stock worth $15,420,000 after purchasing an additional 1,055,000 shares during the last quarter. Millennium Management LLC increased its position in BBX Capital by 334.4% in the 1st quarter. Millennium Management LLC now owns 911,424 shares of the financial services provider’s stock worth $8,394,000 after purchasing an additional 701,619 shares during the last quarter. Northern Trust Corp increased its position in BBX Capital by 312.5% in the 2nd quarter. Northern Trust Corp now owns 738,148 shares of the financial services provider’s stock worth $6,665,000 after purchasing an additional 559,185 shares during the last quarter. Finally, TCW Group Inc. increased its position in BBX Capital by 135.6% in the 2nd quarter. TCW Group Inc. now owns 709,020 shares of the financial services provider’s stock worth $6,403,000 after purchasing an additional 408,135 shares during the last quarter. 32.19% of the stock is currently owned by hedge funds and other institutional investors.

About BBX Capital

BBX Capital Corporation, formerly known as BFC Financial Corporation, is a private equity and venture capital firm specializing in investments and acquisitions of middle market companies. The firm also invests in mergers and acquisition, add-on acquisitions, divestiture, taking public companies private and private companies public, leveraged buyout, partnership, recapitalization, and restructuring.

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