Lucus Advisors LLC cut its stake in Cray Inc. (NASDAQ:CRAY) by 6.4% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 11,662 shares of the company’s stock after selling 796 shares during the period. Lucus Advisors LLC’s holdings in Cray were worth $349,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Fund Advisors boosted its position in Cray by 145.6% in the first quarter. BlackRock Fund Advisors now owns 2,520,569 shares of the company’s stock valued at $105,637,000 after buying an additional 1,494,255 shares during the last quarter. Amerigo Asset Management acquired a new position in Cray during the second quarter valued at about $24,099,000. Teachers Advisors Inc. boosted its position in Cray by 443.1% in the first quarter. Teachers Advisors Inc. now owns 512,147 shares of the company’s stock valued at $21,464,000 after buying an additional 417,852 shares during the last quarter. Bogle Investment Management L P DE acquired a new position in Cray during the first quarter valued at about $12,018,000. Finally, TIAA CREF Investment Management LLC boosted its position in Cray by 99.8% in the first quarter. TIAA CREF Investment Management LLC now owns 419,945 shares of the company’s stock valued at $17,600,000 after buying an additional 209,777 shares during the last quarter. 92.65% of the stock is owned by institutional investors.
Shares of Cray Inc. (NASDAQ:CRAY) traded up 1.25% during midday trading on Friday, hitting $23.54. The stock had a trading volume of 350,275 shares. The firm has a market capitalization of $937.15 million, a PE ratio of 74.73 and a beta of 1.37. The firm’s 50-day moving average price is $22.99 and its 200-day moving average price is $31.18. Cray Inc. has a one year low of $20.21 and a one year high of $43.79.
Cray (NASDAQ:CRAY) last posted its earnings results on Tuesday, August 2nd. The company reported ($0.29) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by $0.06. The company had revenue of $100.20 million for the quarter, compared to the consensus estimate of $101.36 million. Cray had a return on equity of 5.72% and a net margin of 1.96%. Cray’s quarterly revenue was down 46.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.30 EPS. On average, equities analysts predict that Cray Inc. will post $0.45 EPS for the current year.
CRAY has been the subject of several recent analyst reports. Pacific Crest initiated coverage on Cray in a research note on Thursday, July 28th. They issued an “overweight” rating and a $41.00 price target for the company. Stifel Nicolaus cut their price objective on Cray from $49.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, August 3rd. Zacks Investment Research lowered Cray from a “hold” rating to a “sell” rating in a report on Monday, August 8th. Finally, KeyCorp cut their price objective on Cray from $41.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $39.43.
In related news, SVP Michael Charles Piraino sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $21.97, for a total transaction of $329,550.00. Following the completion of the transaction, the senior vice president now owns 63,937 shares in the company, valued at approximately $1,404,695.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.00% of the company’s stock.
Cray Company Profile
Cray Inc designs, develops, manufactures, markets and services the high-end of the high performance computing (HPC) market, primarily categories of systems, known as supercomputers and provides storage and data analytics solutions. The Company provides software, system maintenance, support services and engineering services related to supercomputer systems.
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