Spark Investment Management LLC cut its position in Black Diamond, Inc. (NASDAQ:BDE) by 55.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 34,800 shares of the company’s stock after selling 44,200 shares during the period. Spark Investment Management LLC’s holdings in Black Diamond were worth $231,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the company. California Public Employees Retirement System purchased a new position in shares of Black Diamond during the first quarter worth approximately $105,000. Stifel Financial Corp purchased a new position in shares of Black Diamond during the first quarter worth approximately $112,000. Marquette Asset Management Inc. purchased a new position in shares of Black Diamond during the first quarter worth approximately $125,000. Segantii Capital Management Ltd boosted its position in shares of Black Diamond by 567.4% in the first quarter. Segantii Capital Management Ltd now owns 28,700 shares of the company’s stock worth $156,000 after buying an additional 24,400 shares during the last quarter. Finally, Gagnon Securities LLC boosted its position in shares of Black Diamond by 5.6% in the first quarter. Gagnon Securities LLC now owns 74,761 shares of the company’s stock worth $407,000 after buying an additional 3,978 shares during the last quarter. 44.73% of the stock is owned by institutional investors.
Shares of Black Diamond, Inc. (NASDAQ BDE) opened at 6.65 on Wednesday. The company has a 50 day moving average price of $6.73 and a 200 day moving average price of $5.95. Black Diamond, Inc. has a 12-month low of $4.41 and a 12-month high of $7.15.
Black Diamond (NASDAQ:BDE) last announced its quarterly earnings results on Monday, August 7th. The company reported ($0.12) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by $0.08. The firm had revenue of $30.70 million for the quarter, compared to analysts’ expectations of $30.63 million. Black Diamond had a negative return on equity of 0.72% and a negative net margin of 4.51%. Black Diamond’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.08) EPS. On average, equities research analysts predict that Black Diamond, Inc. will post $0.07 earnings per share for the current fiscal year.
A number of brokerages have commented on BDE. Roth Capital set a $7.00 target price on Black Diamond and gave the company a “hold” rating in a report on Tuesday, August 8th. Zacks Investment Research cut Black Diamond from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Finally, Stifel Nicolaus raised Black Diamond from a “hold” rating to a “buy” rating and increased their target price for the company from $6.00 to $8.00 in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $7.42.
Black Diamond Company Profile
Black Diamond, Inc, through its ownership of Black Diamond Equipment, Ltd., is engaged in designing, manufacturing and marketing of active outdoor performance equipment and apparel for climbing, mountaineering, backpacking, skiing and a range of other year-round outdoor recreation activities. Its principal brands include Black Diamond and PIEPS.
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