Canal Capital Management Exits Position in Netflix (NFLX)

Netflix (NFLX) : Canal Capital Management has sold out all of its stake in Netflix during the most recent quarter, according to the disclosure filed by the company on Aug 8, 2016 with the SEC. The investment management company has sold out 3,353 shares of Netflix which is valued at $321,519.

Other Hedge Funds, Including , Blair William Coil reduced its stake in NFLX by selling 1,073 shares or 5.12% in the most recent quarter. The Hedge Fund company now holds 19,866 shares of NFLX which is valued at $1,904,951. Netflix makes up approx 0.02% of Blair William Coil’s portfolio.Traynor Capital Management boosted its stake in NFLX in the latest quarter, The investment management firm added 1,397 additional shares and now holds a total of 33,721 shares of Netflix which is valued at $3,103,681. Netflix makes up approx 2.27% of Traynor Capital Management’s portfolio. First Midwest Bank Trust Division sold out all of its stake in NFLX during the most recent quarter. The investment firm sold 9,325 shares of NFLX which is valued $858,273. Atalanta Sosnoff Capital sold out all of its stake in NFLX during the most recent quarter. The investment firm sold 77,117 shares of NFLX which is valued $7,097,849.Cibc World Markets boosted its stake in NFLX in the latest quarter, The investment management firm added 9,755 additional shares and now holds a total of 26,760 shares of Netflix which is valued at $2,298,416. Netflix makes up approx 0.01% of Cibc World Markets’s portfolio.

Netflix closed down -1.28 points or -1.33% at $95.31 with 73,04,620 shares getting traded on Monday. Post opening the session at $96.83, the shares hit an intraday low of $95.24 and an intraday high of $96.91 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Netflix reported $0.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 18, 2016. Analyst had a consensus of $0.02. The company had revenue of $1966.00 million for the quarter, compared to analysts expectations of $2109.96 million. The company’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS.

Many Wall Street Analysts have commented on Netflix. Shares were Reiterated by MKM Partners on Jul 20, 2016 to “Buy” and Lowered the Price Target to $ 130 from a previous price target of $145 .Shares were Reiterated by Mizuho on Jul 19, 2016 to “Neutral” and Lowered the Price Target to $ 90 from a previous price target of $109 .Shares were Reiterated by FBR Capital on Jul 19, 2016 to “Mkt Perform” and Lowered the Price Target to $ 90 from a previous price target of $104 .

Netflix Inc. is a provider of Internet television network. The Company has over 57 million streaming members in over 50 countries. Its members can watch more than two billion hours of television (TV) shows and movies per month including original series documentaries and feature films on Internet-connected screen. The Company has three operating segments: Domestic streaming International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content. The Domestic DVD segment derives revenues from monthly membership fees for services consisting of DVD-by-mail. Its members can play pause and resume watching all without commercials or commitments. Additionally in the United States its members can receive DVDs to their homes. The Company offers streaming service both domestically and internationally.

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