Pzena Investment Management Has Decreased Seagate Technology (STX) Stake by $14.25 Million; As Vector Group LTD (VGR) Valuation Declined, Holder Gateway Investment Advisers Decreased Stake by $2.68 Million

May 23, 2018 - By Marie Mckinney

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Richard S. Pzena decreased its stake in Seagate Technology (STX) by 11.07% based on its latest 2017Q4 regulatory filing with the SEC. Pzena Investment Management Llc sold 347,456 shares as the company’s stock rose 36.04% while stock markets declined. The hedge fund run by Richard S. Pzena held 2.79M shares of the electronic components company at the end of 2017Q4, valued at $116.78M, down from 3.14 million at the end of the previous reported quarter. Pzena Investment Management Llc who had been investing in Seagate Technology for a number of months, seems to be less bullish one the $16.60 billion market cap company. The stock decreased 0.34% or $0.2 during the last trading session, reaching $57.81. About 1.09 million shares traded. Seagate Technology plc (NASDAQ:STX) has risen 27.74% since May 23, 2017 and is uptrending. It has outperformed by 16.19% the S&P500.

Gateway Investment Advisers Llc decreased its stake in Vector Group Ltd (VGR) by 54.58% based on its latest 2017Q4 regulatory filing with the SEC. Gateway Investment Advisers Llc sold 121,777 shares as the company’s stock declined 9.62% with the market. The institutional investor held 101,321 shares of the farming and seeds and milling company at the end of 2017Q4, valued at $2.27 million, down from 223,098 at the end of the previous reported quarter. Gateway Investment Advisers Llc who had been investing in Vector Group Ltd for a number of months, seems to be less bullish one the $2.57 billion market cap company. The stock increased 1.22% or $0.231 during the last trading session, reaching $19.141. About 219,630 shares traded. Vector Group Ltd. (NYSE:VGR) has risen 5.73% since May 23, 2017 and is uptrending. It has underperformed by 5.82% the S&P500.

Among 36 analysts covering Seagate Technology Plc (NASDAQ:STX), 10 have Buy rating, 3 Sell and 23 Hold. Therefore 28% are positive. Seagate Technology Plc had 145 analyst reports since August 4, 2015 according to SRatingsIntel. The company was maintained on Tuesday, October 11 by Cowen & Co. The firm earned “Equal-Weight” rating on Wednesday, July 26 by Morgan Stanley. The stock of Seagate Technology plc (NASDAQ:STX) earned “Equal-Weight” rating by Morgan Stanley on Tuesday, October 24. Cowen & Co maintained the stock with “Hold” rating in Monday, January 29 report. Stifel Nicolaus maintained the stock with “Hold” rating in Friday, February 23 report. On Thursday, April 14 the stock rating was maintained by Goldman Sachs with “Neutral”. As per Wednesday, January 10, the company rating was maintained by Robert W. Baird. The rating was maintained by Morgan Stanley on Tuesday, January 30 with “Equal-Weight”. Citigroup upgraded the stock to “Neutral” rating in Tuesday, July 19 report. The rating was maintained by Benchmark with “Hold” on Tuesday, July 25.

More important recent Seagate Technology plc (NASDAQ:STX) news were published by: Seekingalpha.com which released: “Tracking Jeffrey Ubben’s ValueAct Portfolio – Q1 2018 Update” on May 22, 2018, also Nasdaq.com published article titled: “Seagate Technology PLC Stock Drops Despite Strong Q3 Earnings”, Seekingalpha.com published: “Seagate Technology 2018 Q3 – Results – Earnings Call Slides” on May 01, 2018. More interesting news about Seagate Technology plc (NASDAQ:STX) was released by: Seekingalpha.com and their article: “Seagate: No Longer The Best Memory Stock” with publication date: May 02, 2018.

Pzena Investment Management Llc, which manages about $24.64B and $20.39B US Long portfolio, upped its stake in Cisco Systems Inc (NASDAQ:CSCO) by 351,930 shares to 2.87 million shares, valued at $109.88M in 2017Q4, according to the filing. It also increased its holding in Insight Enterprises Inc (NASDAQ:NSIT) by 115,884 shares in the quarter, for a total of 973,385 shares, and has risen its stake in Ryder System Inc. (NYSE:R).

Investors sentiment increased to 0.89 in Q4 2017. Its up 0.11, from 0.78 in 2017Q3. It is positive, as 52 investors sold STX shares while 161 reduced holdings. 80 funds opened positions while 109 raised stakes. 244.40 million shares or 5.86% less from 259.60 million shares in 2017Q3 were reported. Pzena Management Limited Com holds 0.57% or 2.79 million shares. Virtus Inv Advisers invested in 14,765 shares. Ledyard Comml Bank reported 0% stake. The Maryland-based Profund Advsr Ltd Liability Co has invested 0.04% in Seagate Technology plc (NASDAQ:STX). Swiss State Bank has 1.07M shares. Brown Brothers Harriman And owns 481 shares. Mark Sheptoff Planning Ltd Llc owns 0.02% invested in Seagate Technology plc (NASDAQ:STX) for 600 shares. Northern Corp reported 3.17M shares. 47,536 were reported by Nomura Asset Mngmt Co Ltd. Reilly Fin Advisors Limited Liability Company invested 0% in Seagate Technology plc (NASDAQ:STX). Aviance Mgmt Limited Liability Company accumulated 173 shares. Acadian Asset Mgmt Limited Liability Corporation has 81,774 shares for 0.01% of their portfolio. Sequoia Advsrs Ltd Liability Corp holds 6,214 shares. Tiaa Cref Inv Mngmt Limited Liability Company reported 50,303 shares stake. Advisor Partners Ltd Liability Corporation reported 4,896 shares or 0.05% of all its holdings.

Since January 8, 2018, it had 0 buys, and 16 selling transactions for $38.24 million activity. LUCZO STEPHEN J sold $5.60M worth of Seagate Technology plc (NASDAQ:STX) on Tuesday, May 8. On Thursday, January 11 BRACE PHILIP G sold $242,000 worth of Seagate Technology plc (NASDAQ:STX) or 5,000 shares. MORTON DAVID H JR also sold $595,004 worth of Seagate Technology plc (NASDAQ:STX) shares. On Tuesday, January 30 PARK CHONG SUP sold $218,290 worth of Seagate Technology plc (NASDAQ:STX) or 4,026 shares. Nygaard Jeffrey D. had sold 2,188 shares worth $125,701. 4,475 Seagate Technology plc (NASDAQ:STX) shares with value of $235,833 were sold by Geldmacher Jay L.

Analysts await Seagate Technology plc (NASDAQ:STX) to report earnings on July, 24. They expect $1.45 EPS, up 123.08% or $0.80 from last year’s $0.65 per share. STX’s profit will be $416.24 million for 9.97 P/E if the $1.45 EPS becomes a reality. After $1.46 actual EPS reported by Seagate Technology plc for the previous quarter, Wall Street now forecasts -0.68% negative EPS growth.

Another recent and important Vector Group Ltd. (NYSE:VGR) news was published by Seekingalpha.com which published an article titled: “Vector Group’s (VGR) CEO Howard Lorber on Q1 2018 Results – Earnings Call Transcript” on May 13, 2018.

Analysts await Vector Group Ltd. (NYSE:VGR) to report earnings on August, 3. They expect $0.18 EPS, down 25.00% or $0.06 from last year’s $0.24 per share. VGR’s profit will be $24.19M for 26.58 P/E if the $0.18 EPS becomes a reality. After $0.04 actual EPS reported by Vector Group Ltd. for the previous quarter, Wall Street now forecasts 350.00% EPS growth.

Gateway Investment Advisers Llc, which manages about $12.58B and $11.77B US Long portfolio, upped its stake in Veeva Sys Inc (NYSE:VEEV) by 29,907 shares to 73,301 shares, valued at $4.05M in 2017Q4, according to the filing. It also increased its holding in Dominos Pizza Inc (NYSE:DPZ) by 3,384 shares in the quarter, for a total of 46,193 shares, and has risen its stake in Hologic Inc (NASDAQ:HOLX).

Vector Group Ltd. (NYSE:VGR) Institutional Positions Chart

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