Cohen & Steers, Inc. (NYSE:CNS) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 1,620,000 shares, a growth of 19.1% from the December 15th total of 1,360,000 shares. Currently, 7.1% of the company’s shares are short sold. Based on an average trading volume of 187,700 shares, the short-interest ratio is presently 8.6 days.
CNS has been the subject of a number of research analyst reports. ValuEngine lowered Cohen & Steers from a “hold” rating to a “sell” rating in a research note on Saturday, December 21st. Evercore ISI reissued a “buy” rating and set a $65.00 price target on shares of Cohen & Steers in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $50.00.
In related news, EVP Francis C. Poli sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $66.54, for a total transaction of $133,080.00. Following the completion of the sale, the executive vice president now directly owns 63,756 shares of the company’s stock, valued at approximately $4,242,324.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 50.63% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. California State Teachers Retirement System raised its position in Cohen & Steers by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 35,498 shares of the asset manager’s stock valued at $1,950,000 after purchasing an additional 424 shares in the last quarter. Quest Capital Management Inc. ADV bought a new stake in Cohen & Steers during the 3rd quarter valued at $28,000. AQR Capital Management LLC raised its position in Cohen & Steers by 6.9% during the 2nd quarter. AQR Capital Management LLC now owns 12,699 shares of the asset manager’s stock valued at $653,000 after purchasing an additional 819 shares in the last quarter. Metropolitan Life Insurance Co NY raised its position in Cohen & Steers by 13.6% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 7,684 shares of the asset manager’s stock valued at $422,000 after purchasing an additional 920 shares in the last quarter. Finally, Congress Asset Management Co. MA raised its position in Cohen & Steers by 2.2% during the 3rd quarter. Congress Asset Management Co. MA now owns 65,613 shares of the asset manager’s stock valued at $3,604,000 after purchasing an additional 1,393 shares in the last quarter. 47.91% of the stock is owned by institutional investors and hedge funds.
NYSE CNS traded down $0.67 on Tuesday, reaching $64.53. 162,700 shares of the stock traded hands, compared to its average volume of 159,544. The company has a fifty day moving average price of $64.77 and a 200-day moving average price of $58.30. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 26.89, a PEG ratio of 3.23 and a beta of 0.87. Cohen & Steers has a 12 month low of $34.07 and a 12 month high of $68.23.
Cohen & Steers (NYSE:CNS) last issued its earnings results on Wednesday, October 16th. The asset manager reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.02. The business had revenue of $104.97 million during the quarter, compared to analyst estimates of $102.42 million. Cohen & Steers had a return on equity of 46.35% and a net margin of 31.26%. Cohen & Steers’s revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 EPS. Equities analysts anticipate that Cohen & Steers will post 2.5 EPS for the current year.
About Cohen & Steers
Cohen & Steers, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to institutional investors, including pension funds, endowments, and foundations. It manages separate client-focused equity, fixed income, multi-asset, and commodity portfolios through its subsidiaries.
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