Voloridge Investment Management Lowers stake in Reynolds American (RAI)

Reynolds American (RAI) : Voloridge Investment Management reduced its stake in Reynolds American by 37.73% during the most recent quarter end. The investment management company now holds a total of 412,819 shares of Reynolds American which is valued at $20,888,641 after selling 250,134 shares in Reynolds American , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Reynolds American makes up approximately 0.58% of Voloridge Investment Management’s portfolio.

Other Hedge Funds, Including , Euclid Advisors reduced its stake in RAI by selling 5,699 shares or 4.41% in the most recent quarter. The Hedge Fund company now holds 123,675 shares of RAI which is valued at $6,257,955. Reynolds American makes up approx 0.23% of Euclid Advisors’s portfolio.Frontier Investment Mgmt Co boosted its stake in RAI in the latest quarter, The investment management firm added 823 additional shares and now holds a total of 111,331 shares of Reynolds American which is valued at $5,633,349. Reynolds American makes up approx 0.69% of Frontier Investment Mgmt Co’s portfolio. Ikos Cif Ltd sold out all of its stake in RAI during the most recent quarter. The investment firm sold 11,927 shares of RAI which is valued $603,506.Icon Advisers Incco boosted its stake in RAI in the latest quarter, The investment management firm added 16,100 additional shares and now holds a total of 39,600 shares of Reynolds American which is valued at $1,983,960. Reynolds American makes up approx 0.13% of Icon Advisers Incco’s portfolio.

Reynolds American opened for trading at $49.5 and hit $49.76 on the upside on Thursday, eventually ending the session at $49.75, with a gain of 0.36% or 0.18 points. The heightened volatility saw the trading volume jump to 25,52,245 shares. Company has a market cap of $71,010 M.

On the company’s financial health, Reynolds American reported $0.58 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Jul 26, 2016. Analyst had a consensus of $0.61. The company had revenue of $3195.00 million for the quarter, compared to analysts expectations of $3259.13 million. The company’s revenue was up 33.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.02 EPS.

Many Wall Street Analysts have commented on Reynolds American. UBS Initiated Reynolds American on Aug 25, 2016 to “Neutral”, Price Target of the shares are set at $52.Reynolds American was Upgraded by CLSA to ” Outperform” on Aug 8, 2016. Berenberg Initiated Reynolds American on Jun 14, 2016 to “Hold”, Price Target of the shares are set at $54.

Reynolds American Inc. (RAI) is a holding company. The Company operates through three segments: RJR Tobacco American Snuff and Santa Fe. The RJR Tobacco segment consists principally of the primary operations of R. J. Reynolds Tobacco Company. The American Snuff segment consists of the primary operations of American Snuff Co. The Santa Fe segment consists of the domestic operations of Santa Fe Natural Tobacco Company Inc. (SFNTC). The Company’s wholly owned subsidiaries include R. J. Reynolds Tobacco Company American Snuff Company LLC (American Snuff Co.) Lorillard Inc. Santa Fe Natural Tobacco Company Inc. (SFNTC) R. J. Reynolds Vapor Company (RJR Vapor) Niconovum USA Inc. and Niconovum AB.

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