Wellington Shields & Company Has Lowered Spectranetics (SPNC) Position by $21.20 Million; As Berry Plastics Group (BERY) Market Valuation Rose, Holder Verition Fund Management Has Upped Its Stake

October 20, 2017 - By Adrian Erickson

Verition Fund Management Llc increased its stake in Berry Plastics Group Inc (BERY) by 317.13% based on its latest 2017Q2 regulatory filing with the SEC. Verition Fund Management Llc bought 40,180 shares as the company’s stock rose 10.63% with the market. The hedge fund held 52,850 shares of the plastic products company at the end of 2017Q2, valued at $3.01 million, up from 12,670 at the end of the previous reported quarter. Verition Fund Management Llc who had been investing in Berry Plastics Group Inc for a number of months, seems to be bullish on the $7.81B market cap company. The stock declined 0.09% or $0.05 reaching $59.83 on the news. About 351,067 shares traded. Berry Global Group Inc (NYSE:BERY) has risen 47.68% since October 20, 2016 and is uptrending. It has outperformed by 30.98% the S&P500.

Wellington Shields & Company decreased its stake in Spectranetics Corp (SPNC) by 63.53% based on its latest 2017Q2 regulatory filing with the SEC. Wellington Shields & Company sold 557,851 shares as the company’s stock rose 3.37% with the market. The institutional investor held 320,300 shares of the electromedical & electrotherapeutic apparatus company at the end of 2017Q2, valued at $12.30M, down from 878,151 at the end of the previous reported quarter. Wellington Shields & Company who had been investing in Spectranetics Corp for a number of months, seems to be less bullish one the $1.68B market cap company. It closed at $38.45 lastly. It is down 67.37% since October 20, 2016 and is uptrending. It has outperformed by 50.67% the S&P500.

Among 16 analysts covering Berry Plastics Group Inc (NYSE:BERY), 13 have Buy rating, 0 Sell and 3 Hold. Therefore 81% are positive. Berry Plastics Group Inc had 45 analyst reports since August 3, 2015 according to SRatingsIntel. The rating was initiated by KeyBanc Capital Markets on Wednesday, November 30 with “Sector Weight”. The rating was maintained by BMO Capital Markets with “Market Perform” on Friday, August 26. The firm has “Hold” rating by KeyBanc Capital Markets given on Wednesday, August 23. The firm has “Neutral” rating given on Wednesday, July 13 by SunTrust. Goldman Sachs downgraded the stock to “Neutral” rating in Monday, August 3 report. On Friday, July 14 the stock rating was maintained by Jefferies with “Buy”. The stock has “Buy” rating by Jefferies on Wednesday, August 30. RBC Capital Markets maintained the stock with “Outperform” rating in Wednesday, May 11 report. BMO Capital Markets maintained the stock with “Hold” rating in Wednesday, September 27 report. As per Monday, July 10, the company rating was maintained by RBC Capital Markets.

Verition Fund Management Llc, which manages about $1.22 billion and $1.03 billion US Long portfolio, decreased its stake in Thermo Fisher Scientific Inc (NYSE:TMO) by 9,960 shares to 14,668 shares, valued at $2.56M in 2017Q2, according to the filing. It also reduced its holding in Red Hat Inc (Call) (NYSE:RHT) by 17,500 shares in the quarter, leaving it with 2,500 shares, and cut its stake in Medtronic Plc (NYSE:MDT).

More recent Berry Global Group Inc (NYSE:BERY) news were published by: Globenewswire.com which released: “Global Medical Nonwoven Market 2017-2024: Berry Plastics Group, Inc Set to …” on October 19, 2017. Also Businesswire.com published the news titled: “Berry Global Group, Inc. to Report Fourth Quarter and Fiscal Year 2017 Results …” on October 18, 2017. Plasticsnews.com‘s news article titled: “Berry invests in nonwoven production in Italy” with publication date: September 20, 2017 was also an interesting one.

Investors sentiment decreased to 0.92 in Q2 2017. Its down 0.29, from 1.21 in 2017Q1. It is negative, as 29 investors sold BERY shares while 126 reduced holdings. 50 funds opened positions while 93 raised stakes. 119.74 million shares or 3.80% less from 124.48 million shares in 2017Q1 were reported. Citigroup has 0% invested in Berry Global Group Inc (NYSE:BERY). Syntal Prns Ltd Co stated it has 11,435 shares. Deutsche Comml Bank Ag reported 0.02% stake. Verition Fund Limited holds 0.29% or 52,850 shares in its portfolio. First Mercantile Company owns 15,288 shares for 0.16% of their portfolio. Moreover, Ameriprise Fincl has 0.02% invested in Berry Global Group Inc (NYSE:BERY) for 531,283 shares. Invesco stated it has 2.12M shares or 0.04% of all its holdings. Ascend Limited accumulated 673,487 shares. Spectrum Mgmt Grp reported 0.15% stake. Avalon Limited reported 0.1% stake. Oppenheimer Asset Management accumulated 15,848 shares or 0.02% of the stock. Osterweis Management accumulated 706,646 shares or 3.07% of the stock. Moreover, Pnc Financial Services Gru has 0.13% invested in Berry Global Group Inc (NYSE:BERY). Clinton Group Inc Inc holds 0.07% in Berry Global Group Inc (NYSE:BERY) or 11,795 shares. Quantbot LP owns 28,430 shares or 0.15% of their US portfolio.

Investors sentiment increased to 1.39 in 2017 Q2. Its up 0.37, from 1.02 in 2017Q1. It is positive, as 32 investors sold SPNC shares while 34 reduced holdings. 48 funds opened positions while 44 raised stakes. 34.51 million shares or 10.90% less from 38.73 million shares in 2017Q1 were reported. Point72 Asset Management Lp reported 23,400 shares or 0.01% of all its holdings. 172,981 are held by Schwab Charles Inv Mngmt Inc. D E Shaw & has invested 0.01% in Spectranetics Corp (NASDAQ:SPNC). Boston Private Wealth Ltd Liability Company holds 0.04% in Spectranetics Corp (NASDAQ:SPNC) or 23,625 shares. Pier Capital Ltd Limited Liability Company holds 191,578 shares. Leucadia holds 0.43% or 130,000 shares. National Bank & Trust Of Montreal Can owns 145 shares or 0% of their US portfolio. Moreover, Bnp Paribas Asset Management Holdings Sa has 0.1% invested in Spectranetics Corp (NASDAQ:SPNC) for 293,554 shares. 23,398 were accumulated by Aqr Cap Management Ltd Liability. Jane Street Grp Inc Ltd Liability owns 30,463 shares. Wellington Shields & Comm Ltd Liability reported 320,300 shares. Engineers Gate Manager LP reported 42,386 shares or 0.15% of all its holdings. Parametric Associate Lc holds 37,228 shares or 0% of its portfolio. Massachusetts-based Panagora Asset Management has invested 0% in Spectranetics Corp (NASDAQ:SPNC). Nomura Hldg reported 75,000 shares stake.

Another recent and important Spectranetics Corp (NASDAQ:SPNC) news was published by Thestreet.com which published an article titled: “Philips Buys Medical Device Maker Spectranetics Corp.; Deal Has Enterprise …” on June 28, 2017.

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