Corsair Capital Management L.P. cut its position in Ferroglobe PLC (NASDAQ:GSM) by 61.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 150,893 shares of the basic materials company’s stock after selling 244,169 shares during the period. Corsair Capital Management L.P. owned 0.09% of Ferroglobe worth $1,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently modified their holdings of GSM. Trellus Management Company LLC lifted its position in Ferroglobe by 44.6% during the third quarter. Trellus Management Company LLC now owns 27,473 shares of the basic materials company’s stock worth $224,000 after buying an additional 8,473 shares in the last quarter. Wasatch Advisors Inc. lifted its position in Ferroglobe by 5.4% during the second quarter. Wasatch Advisors Inc. now owns 245,387 shares of the basic materials company’s stock worth $2,103,000 after buying an additional 12,504 shares in the last quarter. Stevens Capital Management LP purchased a new position in Ferroglobe during the second quarter worth approximately $118,000. Fox Run Management L.L.C. purchased a new position in Ferroglobe during the third quarter worth approximately $114,000. Finally, SG Americas Securities LLC lifted its position in Ferroglobe by 24.5% during the second quarter. SG Americas Securities LLC now owns 80,977 shares of the basic materials company’s stock worth $694,000 after buying an additional 15,935 shares in the last quarter. 42.96% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:GSM opened at $2.08 on Friday. Ferroglobe PLC has a 52 week low of $1.77 and a 52 week high of $17.61. The company has a current ratio of 1.92, a quick ratio of 0.68 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $373.19 million, a price-to-earnings ratio of 5.29 and a beta of 1.53.
A number of equities analysts recently commented on the company. B. Riley reduced their price objective on Ferroglobe from $14.50 to $4.00 and set a “buy” rating on the stock in a research report on Wednesday, November 28th. CIBC restated a “market perform” rating on shares of Ferroglobe in a research report on Tuesday, November 27th. Oppenheimer restated a “market perform” rating and issued a $9.00 target price on shares of Ferroglobe in a research report on Tuesday, November 27th. UBS Group downgraded Ferroglobe from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 27th. Finally, Zacks Investment Research downgraded Ferroglobe from a “hold” rating to a “sell” rating in a research report on Monday, November 19th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $10.20.
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Ferroglobe PLC engages in the production of silicon metal, silicon-based specialty alloys, and ferroalloys. It operates through the following segments: Electrometallurgy-North America, Electrometallurgy-Europe, Electrometallurgy-South Africa, and Other. The company was founded on February 5, 2015 and is headquartered in London, the United Kingdom.
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