Nine Masts Capital LTD Has Cut Its Stake in Icici Bk LTD (IBN) by $14.57 Million as Share Price Declined

May 26, 2018 - By Peter Erickson

ICICI Bank Limited (NYSE:IBN) Logo

Chao Ku decreased its stake in Icici Bk Ltd (IBN) by 55.53% based on its latest 2017Q4 regulatory filing with the SEC. Nine Masts Capital Ltd sold 1.62M shares as the company’s stock declined 11.13% with the market. The hedge fund run by Chao Ku held 1.30 million shares of the commercial banks company at the end of 2017Q4, valued at $12.78M, down from 2.92M at the end of the previous reported quarter. Nine Masts Capital Ltd who had been investing in Icici Bk Ltd for a number of months, seems to be less bullish one the $28.17 billion market cap company. The stock decreased 0.12% or $0.01 during the last trading session, reaching $8.61. About 4.58M shares traded. ICICI Bank Limited (NYSE:IBN) has risen 12.06% since May 26, 2017 and is uptrending. It has outperformed by 0.51% the S&P500.

Nine Masts Capital Ltd, which manages about $750.28 million US Long portfolio, upped its stake in Sina Corp (Prn) by 10.00 million shares to 96.50M shares, valued at $107.60 million in 2017Q4, according to the filing.

Analysts await ICICI Bank Limited (NYSE:IBN) to report earnings on July, 26. They expect $0.07 earnings per share, down 30.00 % or $0.03 from last year’s $0.1 per share. IBN’s profit will be $229.02 million for 30.75 P/E if the $0.07 EPS becomes a reality. After $0.05 actual earnings per share reported by ICICI Bank Limited for the previous quarter, Wall Street now forecasts 40.00 % EPS growth.

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