Systematic Financial Management LP boosted its stake in shares of PDL BioPharma Inc. (NASDAQ:PDLI) by 25.3% during the second quarter, Holdings Channel reports. The firm owned 591,495 shares of the company’s stock after buying an additional 119,545 shares during the period. Systematic Financial Management LP owned about 0.36% of PDL BioPharma worth $1,857,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Ifrah Financial Services Inc. boosted its position in shares of PDL BioPharma by 3.4% in the second quarter. Ifrah Financial Services Inc. now owns 33,643 shares of the company’s stock valued at $106,000 after buying an additional 1,107 shares during the period. Boothbay Fund Management LLC boosted its position in shares of PDL BioPharma by 3.2% in the first quarter. Boothbay Fund Management LLC now owns 49,069 shares of the company’s stock worth $163,000 after buying an additional 1,534 shares during the last quarter. Nationwide Fund Advisors boosted its position in shares of PDL BioPharma by 2.6% in the second quarter. Nationwide Fund Advisors now owns 108,953 shares of the company’s stock worth $342,000 after buying an additional 2,713 shares during the last quarter. Creative Planning boosted its position in shares of PDL BioPharma by 18.7% in the second quarter. Creative Planning now owns 42,850 shares of the company’s stock worth $135,000 after buying an additional 6,750 shares during the last quarter. Finally, Strs Ohio boosted its position in shares of PDL BioPharma by 6.4% in the second quarter. Strs Ohio now owns 234,400 shares of the company’s stock worth $736,000 after buying an additional 14,200 shares during the last quarter. Institutional investors own 75.23% of the company’s stock.
Shares of PDL BioPharma Inc. (NASDAQ:PDLI) traded down 0.93% during trading on Wednesday, hitting $3.20. The company had a trading volume of 543,667 shares. The stock has a market cap of $529.73 million, a PE ratio of 2.28 and a beta of 0.78. PDL BioPharma Inc. has a 12-month low of $2.58 and a 12-month high of $5.54. The firm has a 50 day moving average of $3.02 and a 200 day moving average of $3.24.
PDL BioPharma (NASDAQ:PDLI) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.01. PDL BioPharma had a net margin of 53.90% and a return on equity of 38.94%. The business earned $21 million during the quarter, compared to analysts’ expectations of $33.46 million. During the same quarter in the prior year, the company earned $0.47 EPS. The firm’s quarterly revenue was down 84.8% on a year-over-year basis. On average, analysts forecast that PDL BioPharma Inc. will post $0.51 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on PDLI. Zacks Investment Research upgraded PDL BioPharma from a “sell” rating to a “hold” rating in a report on Thursday, June 2nd. Cowen and Company restated a “hold” rating and issued a $3.50 target price on shares of PDL BioPharma in a report on Sunday, August 7th.
In other news, VP Peter S. Garcia acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, August 9th. The stock was acquired at an average price of $3.00 per share, for a total transaction of $30,000.00. Following the transaction, the vice president now directly owns 232,092 shares in the company, valued at $696,276. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.
About PDL BioPharma
PDL BioPharma, Inc, formerly Protein Design Labs, Inc, manages a portfolio of patents and royalty assets, consisting of its Queen et al. patents, license agreements with various biotechnology and pharmaceutical companies, and royalty and other assets acquired. The Company provides non-dilutive growth capital and financing solutions to late-stage public and private healthcare companies and offers immediate financial monetization of royalty streams to companies, academic institutions and inventors.
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