California Public Employees Retirement System acquired a new stake in Covia Holdings (NASDAQ:CVIA) in the second quarter, Holdings Channel reports. The institutional investor acquired 91,400 shares of the company’s stock, valued at approximately $1,696,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sterling Investment Advisors Ltd. purchased a new position in Covia in the second quarter valued at $111,000. Cubist Systematic Strategies LLC purchased a new position in Covia in the second quarter valued at $117,000. Russell Investments Group Ltd. purchased a new position in Covia in the second quarter valued at $158,000. Strs Ohio purchased a new position in Covia in the second quarter valued at $168,000. Finally, Citadel Advisors LLC purchased a new position in Covia in the second quarter valued at $193,000.
CVIA has been the subject of a number of recent analyst reports. Cowen reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Covia in a report on Thursday, August 16th. KeyCorp reiterated a “buy” rating and issued a $21.00 target price on shares of Covia in a research report on Thursday, August 16th. Johnson Rice lowered shares of Covia from an “accumulate” rating to a “hold” rating in a research report on Monday, August 20th. Jefferies Financial Group lowered shares of Covia from a “buy” rating to a “hold” rating and set a $8.00 target price on the stock. in a research report on Wednesday, October 17th. Finally, Credit Suisse Group dropped their target price on shares of Covia from $24.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 15th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $14.22.
Shares of NASDAQ CVIA opened at $5.69 on Friday. Covia Holdings has a 52-week low of $5.28 and a 52-week high of $30.00.
Covia (NASDAQ:CVIA) last announced its earnings results on Tuesday, August 14th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.62). The firm had revenue of $508.42 million for the quarter, compared to analyst estimates of $595.59 million. During the same quarter last year, the business posted $0.25 EPS. The firm’s revenue for the quarter was up 56.9% on a year-over-year basis.
There is no company description available for Covia Holdings Corp.
Further Reading: Average Daily Trade Volume – ADTV
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