Osterweis Capital Management Holds Stake in Middleby (MIDD); Synnex (SNX) Shareholder Hl Financial Services Cut Stake

February 23, 2018 - By Vivian Park

Hl Financial Services Llc decreased its stake in Synnex Corp (SNX) by 8.08% based on its latest 2017Q3 regulatory filing with the SEC. Hl Financial Services Llc sold 2,544 shares as the company’s stock declined 8.02% while stock markets rallied. The institutional investor held 28,950 shares of the computer software & peripheral equipment company at the end of 2017Q3, valued at $3.66M, down from 31,494 at the end of the previous reported quarter. Hl Financial Services Llc who had been investing in Synnex Corp for a number of months, seems to be less bullish one the $4.96B market cap company. The stock increased 1.56% or $1.9 during the last trading session, reaching $123.8. About 253,319 shares traded or 7.99% up from the average. SYNNEX Corporation (NYSE:SNX) has risen 29.93% since February 23, 2017 and is uptrending. It has outperformed by 13.23% the S&P500.

John Osterweis increased its stake in Middleby Corp (MIDD) by 27.05% based on its latest 2017Q3 regulatory filing with the SEC. Osterweis Capital Management Inc bought 5,674 shares as the company’s stock declined 6.89% while stock markets rallied. The hedge fund run by John Osterweis held 26,650 shares of the industrial machinery and components company at the end of 2017Q3, valued at $3.42M, up from 20,976 at the end of the previous reported quarter. Osterweis Capital Management Inc who had been investing in Middleby Corp for a number of months, seems to be bullish on the $7.43B market cap company. The stock increased 0.03% or $0.04 during the last trading session, reaching $132.96. About 222,633 shares traded. The Middleby Corporation (NASDAQ:MIDD) has risen 8.18% since February 23, 2017 and is uptrending. It has underperformed by 8.52% the S&P500.

Among 8 analysts covering Middleby (NASDAQ:MIDD), 4 have Buy rating, 0 Sell and 4 Hold. Therefore 50% are positive. Middleby had 17 analyst reports since November 12, 2015 according to SRatingsIntel. The company was downgraded on Monday, October 16 by KeyBanc Capital Markets. The company was maintained on Friday, September 29 by BMO Capital Markets. The firm has “Buy” rating by TH Capital given on Thursday, November 12. The stock of The Middleby Corporation (NASDAQ:MIDD) earned “Hold” rating by Deutsche Bank on Friday, November 17. Robert W. Baird maintained The Middleby Corporation (NASDAQ:MIDD) rating on Friday, August 11. Robert W. Baird has “Outperform” rating and $142 target. BMO Capital Markets maintained The Middleby Corporation (NASDAQ:MIDD) rating on Wednesday, November 8. BMO Capital Markets has “Buy” rating and $150.0 target. The stock has “Buy” rating by Roth Capital on Thursday, November 12. Deutsche Bank initiated The Middleby Corporation (NASDAQ:MIDD) rating on Wednesday, September 7. Deutsche Bank has “Hold” rating and $123 target. As per Wednesday, January 13, the company rating was upgraded by Macquarie Research. The stock has “Neutral” rating by Citigroup on Tuesday, January 30.

Investors sentiment decreased to 0.8 in Q3 2017. Its down 0.25, from 1.05 in 2017Q2. It dropped, as 51 investors sold MIDD shares while 109 reduced holdings. 32 funds opened positions while 96 raised stakes. 51.63 million shares or 0.01% more from 51.63 million shares in 2017Q2 were reported. Moreover, Winslow Evans And Crocker Inc has 0.06% invested in The Middleby Corporation (NASDAQ:MIDD). Savings Bank Of Ny Mellon Corporation has invested 0.01% of its portfolio in The Middleby Corporation (NASDAQ:MIDD). Kayne Anderson Rudnick Investment Mgmt Ltd Liability Com stated it has 0.02% of its portfolio in The Middleby Corporation (NASDAQ:MIDD). Kbc Grp Inc Nv has 6,552 shares for 0.01% of their portfolio. Asset Management One accumulated 86,735 shares. Panagora Asset Mgmt holds 0% in The Middleby Corporation (NASDAQ:MIDD) or 147 shares. Cibc Asset reported 0% of its portfolio in The Middleby Corporation (NASDAQ:MIDD). 105,109 were accumulated by Victory Capital Mngmt Inc. Legacy Capital Ptnrs Inc reported 21,623 shares or 1.46% of all its holdings. Commercial Bank Of America De stated it has 443,924 shares or 0.01% of all its holdings. Da Davidson And accumulated 0.05% or 19,626 shares. Friedberg Invest Mgmt has 14,710 shares for 3.05% of their portfolio. The Utah-based Utah Retirement System has invested 0.03% in The Middleby Corporation (NASDAQ:MIDD). Millennium Mgmt Ltd Llc stated it has 0% in The Middleby Corporation (NASDAQ:MIDD). Regions Financial has 0% invested in The Middleby Corporation (NASDAQ:MIDD) for 3,028 shares.

Since August 28, 2017, it had 0 insider buys, and 3 insider sales for $2.98 million activity. $1.30M worth of The Middleby Corporation (NASDAQ:MIDD) was sold by LINDSAY MARTIN M on Friday, December 15. $679,868 worth of The Middleby Corporation (NASDAQ:MIDD) was sold by OBRIEN GORDON on Monday, September 11.

Osterweis Capital Management Inc, which manages about $1.62B and $1.33B US Long portfolio, decreased its stake in Air Lease Corp (NYSE:AL) by 30,900 shares to 1.01 million shares, valued at $42.99M in 2017Q3, according to the filing. It also reduced its holding in Intel Corp (NASDAQ:INTC) by 76,910 shares in the quarter, leaving it with 866,345 shares, and cut its stake in Alphabet Inc.

Hl Financial Services Llc, which manages about $5.17 billion US Long portfolio, upped its stake in Vanguard Intl Equity Etf (VWO) by 66,182 shares to 557,449 shares, valued at $24.29M in 2017Q3, according to the filing. It also increased its holding in Omega Healthcare (NYSE:OHI) by 21,748 shares in the quarter, for a total of 316,421 shares, and has risen its stake in Wal (NYSE:WMT).

Investors sentiment decreased to 1.08 in Q3 2017. Its down 0.06, from 1.14 in 2017Q2. It fall, as 16 investors sold SNX shares while 77 reduced holdings. 30 funds opened positions while 70 raised stakes. 28.38 million shares or 0.39% more from 28.27 million shares in 2017Q2 were reported. Canada Pension Plan Investment Board accumulated 2,200 shares. Deutsche Natl Bank Ag owns 115,858 shares for 0.01% of their portfolio. Exchange Capital Management has 1.74% invested in SYNNEX Corporation (NYSE:SNX). Raymond James owns 14,717 shares. Opus Grp Ltd Liability Corp invested in 1,775 shares. Hillsdale Investment Management reported 800 shares. Legal General Group Inc Public Limited accumulated 41,308 shares. Aqr Cap Limited Liability reported 890,866 shares. First Midwest National Bank Trust Division holds 4,830 shares. Teacher Retirement Systems Of Texas stated it has 2,483 shares. Shell Asset Management stated it has 67,441 shares or 0.07% of all its holdings. South Dakota Invest Council holds 4,000 shares. First Manhattan holds 0% or 2,200 shares. Zurcher Kantonalbank (Zurich Cantonalbank) owns 1,122 shares. Arizona State Retirement reported 16,543 shares.

Since September 1, 2017, it had 0 insider purchases, and 18 sales for $212.00 million activity. 1,500 shares were sold by POLK DENNIS, worth $172,597 on Friday, September 1. $36,600 worth of SYNNEX Corporation (NYSE:SNX) was sold by Witt Marshall. The insider Wurster Thomas S. sold 300 shares worth $38,101. MIAU MATTHEW had sold 2,000 shares worth $263,996. The insider LAROCQUE PETER sold 8,000 shares worth $1.08 million. 451,000 SYNNEX Corporation (NYSE:SNX) shares with value of $58.77 million were sold by SILVER STAR DEVELOPMENTS LTD.

Analysts await SYNNEX Corporation (NYSE:SNX) to report earnings on March, 26. They expect $2.11 earnings per share, up 15.93% or $0.29 from last year’s $1.82 per share. SNX’s profit will be $84.57 million for 14.67 P/E if the $2.11 EPS becomes a reality. After $2.79 actual earnings per share reported by SYNNEX Corporation for the previous quarter, Wall Street now forecasts -24.37% negative EPS growth.

Among 11 analysts covering SYNNEX (NYSE:SNX), 6 have Buy rating, 2 Sell and 3 Hold. Therefore 55% are positive. SYNNEX had 30 analyst reports since August 20, 2015 according to SRatingsIntel. The firm has “Hold” rating given on Tuesday, September 27 by Stifel Nicolaus. Raymond James upgraded SYNNEX Corporation (NYSE:SNX) on Wednesday, May 18 to “Outperform” rating. SunTrust maintained it with “Buy” rating and $148.0 target in Wednesday, January 10 report. Raymond James upgraded the stock to “Strong Buy” rating in Friday, May 19 report. On Wednesday, January 10 the stock rating was maintained by Citigroup with “Hold”. The company was upgraded on Thursday, August 27 by Zacks. The stock of SYNNEX Corporation (NYSE:SNX) earned “Neutral” rating by Citigroup on Monday, May 2. The company was reinitiated on Friday, June 24 by Needham. As per Friday, June 24, the company rating was maintained by Brean Capital. The stock has “Buy” rating by Stifel Nicolaus on Tuesday, January 9.

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