New Mountain Vantage Advisers LLC Trimmed Its Cit Group INC (CIT) Position as Valuation Rose

March 15, 2018 - By Marie Mckinney

Investors sentiment increased to 1.01 in 2017 Q3. Its up 0.67, from 0.34 in 2017Q2. It increased, as 23 investors sold CIT shares while 91 reduced holdings. 43 funds opened positions while 72 raised stakes. 134.52 million shares or 7.51% less from 145.43 million shares in 2017Q2 were reported. Proshare Advisors Ltd holds 18,876 shares or 0.01% of its portfolio. Paloma Partners Com accumulated 52,125 shares. Lmr Prns Limited Liability Partnership holds 0.32% or 59,390 shares. American invested in 0% or 5,817 shares. Caisse De Depot Et Placement Du Quebec owns 42,500 shares for 0% of their portfolio. Michigan-based Ls Lc has invested 0.01% in CIT Group Inc. (NYSE:CIT). Salzhauer Michael accumulated 14,340 shares. Amp Cap Ltd holds 59,840 shares. Arbiter Prtn Ltd Liability Company stated it has 0.57% of its portfolio in CIT Group Inc. (NYSE:CIT). Capital Invsts has 0.09% invested in CIT Group Inc. (NYSE:CIT). Putnam Ltd Liability Com has invested 0.02% in CIT Group Inc. (NYSE:CIT). Commonwealth Equity reported 4,873 shares or 0% of all its holdings. Livforsakringsbolaget Skandia Omsesidigt has invested 0.05% in CIT Group Inc. (NYSE:CIT). Canada Pension Plan Investment Board owns 4,320 shares. Nomura has 40,753 shares.

Since March 1, 2018, it had 0 insider buys, and 1 insider sale for $107,268 activity.

Steven B. Klinsky decreased its stake in Cit Group Inc (CIT) by 11.74% based on its latest 2017Q3 regulatory filing with the SEC. New Mountain Vantage Advisers Llc sold 151,504 shares as the company’s stock rose 7.62% with the market. The hedge fund run by Steven B. Klinsky held 1.14 million shares of the consumer services company at the end of 2017Q3, valued at $55.86 million, down from 1.29M at the end of the previous reported quarter. New Mountain Vantage Advisers Llc who had been investing in Cit Group Inc for a number of months, seems to be less bullish one the $7.01B market cap company. The stock decreased 0.80% or $0.43 during the last trading session, reaching $53.61. About 100,859 shares traded. CIT Group Inc. (NYSE:CIT) has risen 46.21% since March 15, 2017 and is uptrending. It has outperformed by 29.51% the S&P500.

New Mountain Vantage Advisers Llc, which manages about $2.44 billion and $1.30B US Long portfolio, upped its stake in Allergan Plc by 15,986 shares to 152,579 shares, valued at $31.27M in 2017Q3, according to the filing. It also increased its holding in Liberty Expedia Holdings by 80,414 shares in the quarter, for a total of 478,161 shares, and has risen its stake in Universal Hlth Svcs Inc (NYSE:UHS).

Analysts await CIT Group Inc. (NYSE:CIT) to report earnings on April, 24. They expect $0.97 earnings per share, up 79.63 % or $0.43 from last year’s $0.54 per share. CIT’s profit will be $126.85 million for 13.82 P/E if the $0.97 EPS becomes a reality. After $0.99 actual earnings per share reported by CIT Group Inc. for the previous quarter, Wall Street now forecasts -2.02 % negative EPS growth.

More important recent CIT Group Inc. (NYSE:CIT) news were published by: which released: “CIT Adds to Sales Team in Office Imaging” on March 07, 2018, also published article titled: “Top US bank regulator told to recuse himself from CIT Group matters”, published: “CIT Names Sarah LF McAvoy as Corporate Treasurer” on March 13, 2018. More interesting news about CIT Group Inc. (NYSE:CIT) was released by: and their article: “Why Should You Hold on to CIT Group (CIT) Stock for Now” with publication date: March 07, 2018.

CIT Group Inc. (NYSE:CIT) Ratings Coverage

Among 19 analysts covering CIT Group (NYSE:CIT), 8 have Buy rating, 0 Sell and 11 Hold. Therefore 42% are positive. CIT Group has $60.0 highest and $3000 lowest target. $50.33’s average target is -6.12% below currents $53.61 stock price. CIT Group had 64 analyst reports since July 23, 2015 according to SRatingsIntel. As per Wednesday, December 13, the company rating was maintained by Morgan Stanley. The firm earned “Outperform” rating on Tuesday, October 6 by Oppenheimer. The firm earned “Neutral” rating on Friday, August 14 by Goldman Sachs. The stock of CIT Group Inc. (NYSE:CIT) earned “Neutral” rating by Sterne Agee CRT on Monday, March 28. Oppenheimer maintained the stock with “Buy” rating in Tuesday, June 6 report. The stock of CIT Group Inc. (NYSE:CIT) has “Buy” rating given on Tuesday, January 2 by Stephens. The firm has “Mkt Outperform” rating given on Friday, December 18 by JMP Securities. The rating was maintained by Stifel Nicolaus on Monday, November 9 with “Buy”. The company was maintained on Tuesday, January 30 by BMO Capital Markets. Oppenheimer maintained the shares of CIT in report on Tuesday, January 5 with “Outperform” rating.

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