LS Investment Advisors LLC increased its stake in shares of Now Inc. (NYSE:DNOW) by 101.8% during the second quarter, Holdings Channel reports. The institutional investor owned 7,661 shares of the company’s stock after buying an additional 3,864 shares during the period. LS Investment Advisors LLC’s holdings in Now were worth $139,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of DNOW. DAVENPORT & Co LLC increased its stake in shares of Now by 7.5% in the second quarter. DAVENPORT & Co LLC now owns 10,812 shares of the company’s stock valued at $196,000 after buying an additional 755 shares during the period. Pacad Investment Ltd. purchased a new stake in shares of Now during the first quarter valued at about $198,000. BB&T Securities LLC increased its stake in shares of Now by 18.7% in the first quarter. BB&T Securities LLC now owns 15,038 shares of the company’s stock valued at $266,000 after buying an additional 2,374 shares during the period. Bayesian Capital Management LP purchased a new stake in shares of Now during the first quarter valued at about $291,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Now during the first quarter valued at about $319,000. 96.87% of the stock is currently owned by institutional investors.
Now Inc. (NYSE:DNOW) traded up 3.18% during trading on Friday, hitting $21.43. 1,097,998 shares of the stock were exchanged. The stock has a 50 day moving average price of $20.45 and a 200-day moving average price of $18.73. Now Inc. has a 12-month low of $12.03 and a 12-month high of $21.75. The firm’s market capitalization is $2.30 billion.
Now (NYSE:DNOW) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.06. Now had a negative net margin of 23.71% and a negative return on equity of 8.92%. The firm had revenue of $501 million for the quarter, compared to analysts’ expectations of $456.96 million. During the same period last year, the firm earned ($0.16) earnings per share. The business’s revenue for the quarter was down 33.2% on a year-over-year basis. On average, equities research analysts anticipate that Now Inc. will post ($1.52) earnings per share for the current fiscal year.
Several analysts have issued reports on DNOW shares. Cowen and Company started coverage on shares of Now in a research note on Friday, September 16th. They set a “market perform” rating and a $22.00 target price on the stock. KeyCorp reissued a “hold” rating on shares of Now in a research note on Tuesday, September 27th. Finally, Zacks Investment Research raised shares of Now from a “sell” rating to a “hold” rating in a research note on Wednesday, June 29th. Five research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and a consensus price target of $18.00.
Now Company Profile
NOW Inc (NOW) is a global distributor to energy and industrial markets. The Company operates primarily under the DistributionNOW and Wilson Export brands. The Company operates through three segments: United States (U.S.), Canada and International. Through its network of over 300 locations across the world, it stocks and sells an offering of energy products, as well as a selection of products for industrial applications.
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