Telemark Asset Management Lifted Truecar (TRUE) Stake by $5.89 Million; Share Price Rose; As United Bankshares (UBSI) Valuation Declined, Holder Sterling Capital Management Decreased Its Holding by $1.52 Million

November 15, 2017 - By Adrian Mccoy

Sterling Capital Management Llc decreased its stake in United Bankshares Inc (UBSI) by 8.31% based on its latest 2017Q2 regulatory filing with the SEC. Sterling Capital Management Llc sold 39,093 shares as the company’s stock declined 15.09% while stock markets rallied. The institutional investor held 431,150 shares of the finance company at the end of 2017Q2, valued at $16.90 million, down from 470,243 at the end of the previous reported quarter. Sterling Capital Management Llc who had been investing in United Bankshares Inc for a number of months, seems to be less bullish one the $3.64 billion market cap company. The stock declined 0.65% or $0.22 reaching $34.62 per share. About 18,060 shares traded. United Bankshares, Inc. (NASDAQ:UBSI) has risen 0.13% since November 15, 2016 and is uptrending. It has underperformed by 16.57% the S&P500.

Telemark Asset Management Llc increased its stake in Truecar Inc (TRUE) by 155% based on its latest 2017Q2 regulatory filing with the SEC. Telemark Asset Management Llc bought 310,000 shares as the company’s stock rose 21.77% with the market. The hedge fund held 510,000 shares of the technology company at the end of 2017Q2, valued at $10.16M, up from 200,000 at the end of the previous reported quarter. Telemark Asset Management Llc who had been investing in Truecar Inc for a number of months, seems to be bullish on the $1.12B market cap company. The stock rose 1.04% or $0.12 reaching $11.23 per share. About 86,718 shares traded. TrueCar Inc (NASDAQ:TRUE) has risen 161.73% since November 15, 2016 and is uptrending. It has outperformed by 145.03% the S&P500.

Analysts await United Bankshares, Inc. (NASDAQ:UBSI) to report earnings on January, 30. They expect $0.52 earnings per share, up 1.96% or $0.01 from last year’s $0.51 per share. UBSI’s profit will be $54.67M for 16.64 P/E if the $0.52 EPS becomes a reality. After $0.54 actual earnings per share reported by United Bankshares, Inc. for the previous quarter, Wall Street now forecasts -3.70% negative EPS growth.

More recent United Bankshares, Inc. (NASDAQ:UBSI) news were published by: Nasdaq.com which released: “Heartland Advisors Inc Buys Iamgold Corp, United Bankshares Inc, Baker Hughes …” on October 26, 2017. Also Businesswire.com published the news titled: “United Bankshares, Inc. Announces Earnings for the Third Quarter and First …” on October 26, 2017. Businesswire.com‘s news article titled: “44th Consecutive Year of Dividend Increases for United Bankshares” with publication date: November 10, 2017 was also an interesting one.

Since June 9, 2017, it had 0 insider buys, and 1 sale for $522,014 activity.

Investors sentiment increased to 2.33 in Q2 2017. Its up 1.04, from 1.29 in 2017Q1. It increased, as 27 investors sold UBSI shares while 36 reduced holdings. 54 funds opened positions while 93 raised stakes. 63.86 million shares or 22.90% more from 51.96 million shares in 2017Q1 were reported. Moreover, Massmutual Tru Fsb Adv has 0% invested in United Bankshares, Inc. (NASDAQ:UBSI) for 281 shares. Ameritas Inv Prtn owns 54,260 shares for 0.1% of their portfolio. Gradient Investments Limited Liability Company holds 0% in United Bankshares, Inc. (NASDAQ:UBSI) or 115 shares. Basswood Cap Limited Liability Corp holds 0.35% of its portfolio in United Bankshares, Inc. (NASDAQ:UBSI) for 180,165 shares. Los Angeles Capital Equity reported 0% stake. Proshare Advsr Ltd Liability Corp stated it has 0.08% in United Bankshares, Inc. (NASDAQ:UBSI). The Missouri-based Parkside Financial Bank has invested 0% in United Bankshares, Inc. (NASDAQ:UBSI). Alps Advisors holds 11,005 shares or 0% of its portfolio. Oregon Pub Employees Retirement Fund owns 38,597 shares. 63,865 were reported by Great West Life Assurance Can. Thrivent For Lutherans stated it has 21,170 shares or 0% of all its holdings. 164,582 are held by Swiss Bank & Trust. Independent Consultants Inc has 35,754 shares for 0.58% of their portfolio. 237,730 are held by Deutsche Savings Bank Ag. Virginia Retirement Et Al holds 11,800 shares.

Among 4 analysts covering United Bankshares Inc. (NASDAQ:UBSI), 0 have Buy rating, 0 Sell and 4 Hold. Therefore 0 are positive. United Bankshares Inc. had 9 analyst reports since August 4, 2015 according to SRatingsIntel. Boenning & Scattergood maintained the shares of UBSI in report on Thursday, July 27 with “Hold” rating. The firm earned “Hold” rating on Thursday, June 1 by Keefe Bruyette & Woods. As per Friday, November 3, the company rating was maintained by Keefe Bruyette & Woods. As per Friday, October 27, the company rating was maintained by Boenning & Scattergood. The stock of United Bankshares, Inc. (NASDAQ:UBSI) has “Hold” rating given on Thursday, July 27 by Keefe Bruyette & Woods. Wood maintained the shares of UBSI in report on Monday, August 22 with “Market Perform” rating.

Sterling Capital Management Llc, which manages about $45.64B and $10.36 billion US Long portfolio, upped its stake in Forum Energy Technologies Inc (NYSE:FET) by 37,111 shares to 143,111 shares, valued at $2.23M in 2017Q2, according to the filing. It also increased its holding in Magicjack Vocaltec Ltd (NASDAQ:CALL) by 47,000 shares in the quarter, for a total of 145,371 shares, and has risen its stake in Discovery Communications Inc S (NASDAQ:DISCK).

Among 14 analysts covering TrueCar (NASDAQ:TRUE), 7 have Buy rating, 1 Sell and 6 Hold. Therefore 50% are positive. TrueCar had 35 analyst reports since July 24, 2015 according to SRatingsIntel. The firm has “Buy” rating given on Friday, July 24 by Craig Hallum. The stock of TrueCar Inc (NASDAQ:TRUE) has “Buy” rating given on Tuesday, November 7 by FBR Capital. The firm earned “Mkt Outperform” rating on Monday, January 9 by JMP Securities. The stock of TrueCar Inc (NASDAQ:TRUE) has “Buy” rating given on Friday, November 4 by Loop Capital. Stephens downgraded the shares of TRUE in report on Friday, July 24 to “Equal Weight” rating. Morgan Stanley maintained TrueCar Inc (NASDAQ:TRUE) rating on Thursday, July 20. Morgan Stanley has “Underweight” rating and $13 target. Goldman Sachs downgraded the stock to “Neutral” rating in Friday, July 24 report. Goldman Sachs reinitiated TrueCar Inc (NASDAQ:TRUE) on Wednesday, October 11 with “Neutral” rating. The stock of TrueCar Inc (NASDAQ:TRUE) has “Sector Perform” rating given on Friday, November 6 by RBC Capital Markets. The stock of TrueCar Inc (NASDAQ:TRUE) has “Hold” rating given on Thursday, August 11 by Loop Capital.

Telemark Asset Management Llc, which manages about $460.03 million and $462.76 million US Long portfolio, decreased its stake in Oracle Corp (NYSE:ORCL) by 170,000 shares to 230,000 shares, valued at $11.53 million in 2017Q2, according to the filing. It also reduced its holding in Wayfair Inc (NYSE:W) by 120,000 shares in the quarter, leaving it with 400,000 shares, and cut its stake in Wix Com Ltd (NASDAQ:WIX).

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