As Amgen (AMGN) Stock Declined, Shareholder Selway Asset Management Decreased Stake; Permit Capital Has Lifted Holding in Iconix Brand Group (ICON)

January 13, 2018 - By Louis Casey

Selway Asset Management decreased its stake in Amgen Inc (AMGN) by 89.37% based on its latest 2017Q3 regulatory filing with the SEC. Selway Asset Management sold 24,475 shares as the company’s stock declined 9.68% while stock markets rallied. The institutional investor held 2,910 shares of the biological products (no diagnostic substances) company at the end of 2017Q3, valued at $543,000, down from 27,385 at the end of the previous reported quarter. Selway Asset Management who had been investing in Amgen Inc for a number of months, seems to be less bullish one the $134.32 billion market cap company. The stock increased 1.69% or $3.08 during the last trading session, reaching $185.04. About 3.11 million shares traded or 13.87% up from the average. Amgen Inc. (NASDAQ:AMGN) has risen 5.27% since January 13, 2017 and is uptrending. It has underperformed by 11.43% the S&P500.

Permit Capital Llc increased its stake in Iconix Brand Group Inc (ICON) by 43.24% based on its latest 2017Q3 regulatory filing with the SEC. Permit Capital Llc bought 335,073 shares as the company’s stock declined 30.61% while stock markets rallied. The hedge fund held 1.11 million shares of the consumer non-durables company at the end of 2017Q3, valued at $6.32 million, up from 774,927 at the end of the previous reported quarter. Permit Capital Llc who had been investing in Iconix Brand Group Inc for a number of months, seems to be bullish on the $81.24M market cap company. The stock increased 7.58% or $0.1 during the last trading session, reaching $1.42. About 4.06M shares traded or 49.04% up from the average. Iconix Brand Group, Inc. (NASDAQ:ICON) has declined 13.52% since January 13, 2017 and is downtrending. It has underperformed by 30.22% the S&P500.

Among 24 analysts covering Amgen Inc. (NASDAQ:AMGN), 11 have Buy rating, 0 Sell and 13 Hold. Therefore 46% are positive. Amgen Inc. had 74 analyst reports since August 3, 2015 according to SRatingsIntel. The firm has “Buy” rating given on Friday, July 21 by BMO Capital Markets. On Monday, June 12 the stock rating was maintained by Jefferies with “Hold”. The rating was maintained by BMO Capital Markets with “Market Perform” on Thursday, October 26. Atlantic Securities initiated Amgen Inc. (NASDAQ:AMGN) on Friday, December 18 with “Overweight” rating. The stock has “Hold” rating by Jefferies on Wednesday, April 5. The stock has “Outperform” rating by Oppenheimer on Tuesday, December 13. The stock has “Buy” rating by Oppenheimer on Wednesday, August 23. The rating was upgraded by Vetr on Friday, August 21 to “Buy”. The stock has “Buy” rating by Cowen & Co on Tuesday, October 3. Gabelli initiated the shares of AMGN in report on Friday, August 26 with “Hold” rating.

Selway Asset Management, which manages about $271.44M and $172.74M US Long portfolio, upped its stake in Advance Auto Parts (NYSE:AAP) by 12,775 shares to 27,650 shares, valued at $2.74M in 2017Q3, according to the filing.

Analysts await Amgen Inc. (NASDAQ:AMGN) to report earnings on February, 1. They expect $3.02 earnings per share, up 4.50% or $0.13 from last year’s $2.89 per share. AMGN’s profit will be $2.19B for 15.32 P/E if the $3.02 EPS becomes a reality. After $3.27 actual earnings per share reported by Amgen Inc. for the previous quarter, Wall Street now forecasts -7.65% negative EPS growth.

Investors sentiment decreased to 0.99 in Q3 2017. Its down 0.16, from 1.15 in 2017Q2. It is negative, as 58 investors sold AMGN shares while 511 reduced holdings. 108 funds opened positions while 453 raised stakes. 555.05 million shares or 0.41% less from 557.32 million shares in 2017Q2 were reported. Granite Inv Ltd Liability Co holds 0.09% in Amgen Inc. (NASDAQ:AMGN) or 7,585 shares. Wade G W & invested in 48,256 shares. National Bank Of Hawaii accumulated 15,568 shares. Clearbridge Investments owns 7.91M shares. Selway Asset Mgmt invested in 0.31% or 2,910 shares. 26,995 were reported by Veritable L P. Moreover, Coe Capital Ltd Liability Co has 0.41% invested in Amgen Inc. (NASDAQ:AMGN) for 2,095 shares. Livforsakringsbolaget Skandia Omsesidigt invested in 1.04% or 62,296 shares. 10,023 were accumulated by West Oak Capital Limited Liability Company. Sarasin And Prtnrs Ltd Liability Partnership invested in 3.48% or 925,017 shares. Exchange Cap Management stated it has 1.46% in Amgen Inc. (NASDAQ:AMGN). Edgar Lomax Company Va reported 0.78% stake. Capital Inv Advisors Lc holds 0.28% or 22,020 shares in its portfolio. Weatherly Asset Lp invested in 0.18% or 3,574 shares. Hartford Investment Mngmt Communications stated it has 164,132 shares.

Since October 9, 2017, it had 0 insider purchases, and 2 selling transactions for $553,240 activity.

Among 9 analysts covering Iconix Brand Group (NASDAQ:ICON), 1 have Buy rating, 0 Sell and 8 Hold. Therefore 11% are positive. Iconix Brand Group had 18 analyst reports since August 7, 2015 according to SRatingsIntel. The firm has “Neutral” rating by Monness Crespi & Hardt given on Friday, November 6. The firm has “Neutral” rating by Guggenheim given on Friday, September 30. The firm earned “Buy” rating on Wednesday, November 11 by TH Capital. The rating was maintained by Roth Capital with “Hold” on Wednesday, December 6. As per Monday, August 14, the company rating was maintained by Cowen & Co. The firm has “Buy” rating given on Wednesday, August 9 by Roth Capital. Brean Capital downgraded Iconix Brand Group, Inc. (NASDAQ:ICON) on Friday, November 6 to “Hold” rating. The firm earned “Hold” rating on Friday, November 6 by Wunderlich. Sidoti initiated it with “Hold” rating and $6.0 target in Tuesday, September 19 report. The firm has “Buy” rating given on Friday, August 7 by Brean Capital.

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