Fleetcor Technologies INC (FLT) Shares Declined While Palestra Capital Management LLC Lowered Its Position

January 21, 2018 - By Marguerite Chambers

Investors sentiment increased to 1.27 in 2017 Q3. Its up 0.36, from 0.91 in 2017Q2. It improved, as 26 investors sold FLT shares while 99 reduced holdings. 39 funds opened positions while 120 raised stakes. 83.71 million shares or 5.44% less from 88.52 million shares in 2017Q2 were reported. 1,366 are held by Cap Fin Advisers Lc. Geode Mgmt Ltd Liability Co holds 0.04% of its portfolio in FleetCor Technologies, Inc. (NYSE:FLT) for 665,748 shares. Bnp Paribas Asset Mgmt Holdg holds 5,027 shares. Wellington Mgmt Llp owns 4.03M shares for 0.14% of their portfolio. Carroll Fincl Assoc invested in 0% or 33 shares. Great West Life Assurance Can accumulated 0.02% or 49,275 shares. Cipher Cap LP stated it has 4,020 shares or 0.05% of all its holdings. 36,457 were reported by Daiwa Securities Group. Sterling Cap Ltd Liability Company, a North Carolina-based fund reported 7,892 shares. Steadfast Management Lp has 5.37% invested in FleetCor Technologies, Inc. (NYSE:FLT) for 2.24 million shares. Cornercap Investment Counsel Inc owns 0.68% invested in FleetCor Technologies, Inc. (NYSE:FLT) for 31,385 shares. Marshall Wace Llp reported 36,474 shares or 0.26% of all its holdings. State Treasurer State Of Michigan reported 4,600 shares stake. Wells Fargo And Company Mn holds 598,702 shares or 0.03% of its portfolio. Rafferty Asset Mgmt Limited Com holds 15,337 shares.

Andrew Immerman decreased its stake in Fleetcor Technologies Inc (FLT) by 17.88% based on its latest 2017Q3 regulatory filing with the SEC. Palestra Capital Management Llc sold 126,300 shares as the company’s stock declined 18.44% while stock markets rallied. The hedge fund run by Andrew Immerman held 580,200 shares of the miscellaneous company at the end of 2017Q3, valued at $89.80 million, down from 706,500 at the end of the previous reported quarter. Palestra Capital Management Llc who had been investing in Fleetcor Technologies Inc for a number of months, seems to be less bullish one the $18.51B market cap company. The stock increased 1.67% or $3.4 during the last trading session, reaching $206.65. About 457,218 shares traded. FleetCor Technologies, Inc. (NYSE:FLT) has declined 6.67% since January 21, 2017 and is downtrending. It has underperformed by 23.37% the S&P500.

Palestra Capital Management Llc, which manages about $755.46 million and $1.61B US Long portfolio, upped its stake in Hilton Worldwide Hldgs Inc by 51,500 shares to 1.15M shares, valued at $79.97M in 2017Q3, according to the filing. It also increased its holding in Ptc Inc (NASDAQ:PTC) by 191,200 shares in the quarter, for a total of 1.54 million shares, and has risen its stake in Mohawk Inds Inc (NYSE:MHK).

Analysts await FleetCor Technologies, Inc. (NYSE:FLT) to report earnings on February, 14. They expect $2.14 earnings per share, up 20.22 % or $0.36 from last year’s $1.78 per share. FLT’s profit will be $191.66 million for 24.14 P/E if the $2.14 EPS becomes a reality. After $2.01 actual earnings per share reported by FleetCor Technologies, Inc. for the previous quarter, Wall Street now forecasts 6.47 % EPS growth.

FleetCor Technologies, Inc. (NYSE:FLT) Ratings Coverage

Among 17 analysts covering Fleetcor Technologies (NYSE:FLT), 15 have Buy rating, 0 Sell and 2 Hold. Therefore 88% are positive. Fleetcor Technologies had 50 analyst reports since August 6, 2015 according to SRatingsIntel. Barclays Capital maintained the stock with “Overweight” rating in Wednesday, September 21 report. The rating was maintained by Keefe Bruyette & Woods with “Outperform” on Wednesday, February 3. The company was maintained on Tuesday, October 24 by SunTrust. The firm earned “Buy” rating on Thursday, December 21 by Keefe Bruyette & Woods. The firm has “Overweight” rating given on Friday, May 5 by JP Morgan. Barclays Capital maintained the shares of FLT in report on Thursday, November 2 with “Overweight” rating. The rating was maintained by Oppenheimer with “Buy” on Monday, November 13. As per Thursday, December 15, the company rating was initiated by Citigroup. The firm has “Hold” rating by Credit Suisse given on Wednesday, January 17. On Friday, August 14 the stock rating was maintained by JP Morgan with “Neutral”.

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