Benefit Street Partners LLC lowered its position in shares of Ferroglobe PLC (NASDAQ:GSM) by 25.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 722,476 shares of the basic materials company’s stock after selling 248,554 shares during the quarter. Ferroglobe comprises approximately 0.1% of Benefit Street Partners LLC’s portfolio, making the stock its 22nd biggest position. Benefit Street Partners LLC’s holdings in Ferroglobe were worth $1,482,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. IHT Wealth Management LLC purchased a new position in Ferroglobe during the fourth quarter valued at $59,000. Miracle Mile Advisors LLC purchased a new position in shares of Ferroglobe in the 1st quarter worth about $126,000. Legal & General Group Plc raised its position in shares of Ferroglobe by 339.8% in the 4th quarter. Legal & General Group Plc now owns 65,900 shares of the basic materials company’s stock worth $105,000 after purchasing an additional 50,915 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Ferroglobe in the 4th quarter worth about $112,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Ferroglobe in the 4th quarter worth about $203,000. 37.61% of the stock is owned by institutional investors and hedge funds.
GSM opened at $1.52 on Monday. The company has a quick ratio of 0.81, a current ratio of 1.74 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $257.07 million, a PE ratio of 5.43 and a beta of 2.26. Ferroglobe PLC has a 1 year low of $1.44 and a 1 year high of $9.40.
Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings results on Monday, June 3rd. The basic materials company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The company had revenue of $456.79 million during the quarter, compared to analysts’ expectations of $481.09 million. Ferroglobe had a negative return on equity of 0.37% and a net margin of 1.20%. Ferroglobe’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.19 EPS. Sell-side analysts forecast that Ferroglobe PLC will post -0.52 earnings per share for the current fiscal year.
Several research firms have recently issued reports on GSM. Zacks Investment Research raised Ferroglobe from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd. BidaskClub raised Ferroglobe from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. ValuEngine raised Ferroglobe from a “sell” rating to a “hold” rating in a research report on Tuesday, June 11th. Finally, B. Riley set a $4.00 price target on Ferroglobe and gave the stock a “buy” rating in a research report on Friday, May 17th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $7.43.
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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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