As Braskem S A (BAK) Stock Value Declined, Holder Gruss Capital Management LP Has Lowered by $10.40 Million Its Holding

February 14, 2018 - By Linda Rogers

Howard Guberman decreased its stake in Braskem S A (BAK) by 55.17% based on its latest 2017Q3 regulatory filing with the SEC. Gruss Capital Management Lp sold 400,000 shares as the company’s stock declined 8.97% while stock markets rallied. The hedge fund run by Howard Guberman held 325,000 shares of the major chemicals company at the end of 2017Q3, valued at $8.69 million, down from 725,000 at the end of the previous reported quarter. Gruss Capital Management Lp who had been investing in Braskem S A for a number of months, seems to be less bullish one the $11.88 billion market cap company. The stock increased 0.18% or $0.05 during the last trading session, reaching $28.3. About 165,461 shares traded. Braskem S.A. (NYSE:BAK) has risen 73.46% since February 14, 2017 and is uptrending. It has outperformed by 56.76% the S&P500.

Gruss Capital Management Lp, which manages about $3.35B and $1.15B US Long portfolio, upped its stake in Liberty Media Corp Delaware by 185,000 shares to 1.16M shares, valued at $48.75M in 2017Q3, according to the filing. It also increased its holding in Hyatt Hotels Corp (NYSE:H) by 490,000 shares in the quarter, for a total of 645,000 shares, and has risen its stake in Spirit Rlty Cap Inc New (NYSE:SRC).

Analysts await Braskem S.A. (NYSE:BAK) to report earnings on August, 16. BAK’s profit will be $340.09M for 8.73 P/E if the $0.81 EPS becomes a reality. After $0.64 actual EPS reported by Braskem S.A. for the previous quarter, Wall Street now forecasts 26.56 % EPS growth.

More notable recent Braskem S.A. (NYSE:BAK) news were published by: Reuters.com which released: “Brazil’s Braskem agrees to settle US class action for $10 million” on September 14, 2017, also Benzinga.com with their article: “Jim Cramer Advises Viewers On Braskem SA, Ormat Technologies And More” published on November 21, 2017, Quotes.Wsj.com published: “Braskem S/A ADR BAK (US: NYSE)” on February 11, 2011. More interesting news about Braskem S.A. (NYSE:BAK) were released by: Benzinga.com and their article: “28 Stocks Moving In Tuesday’s Pre-Market Session” published on January 16, 2018 as well as Seekingalpha.com‘s news article titled: “LyondellBasell/Braskem” with publication date: October 31, 2017.

Braskem S.A. (NYSE:BAK) Ratings Coverage

Among 4 analysts covering Braskem SA (NYSE:BAK), 4 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Braskem SA has $16 highest and $14.30 lowest target. $16’s average target is -43.46% below currents $28.3 stock price. Braskem SA had 5 analyst reports since September 21, 2015 according to SRatingsIntel. The stock of Braskem S.A. (NYSE:BAK) has “Buy” rating given on Tuesday, May 24 by Bank of America. The company was initiated on Tuesday, October 11 by HSBC. The company was upgraded on Monday, December 5 by JP Morgan.

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