Putnam Investments Has Decreased Its Position in Cit Group (CIT) by $562,765; Alibaba Group Hldg LTD (BABA) Shareholder Glovista Investments Cut Position as Stock Price Rose

April 17, 2018 - By Louis Casey

CIT Group Inc. (NYSE:CIT) Logo

Glovista Investments Llc decreased its stake in Alibaba Group Hldg Ltd (BABA) by 64.52% based on its latest 2017Q4 regulatory filing with the SEC. Glovista Investments Llc sold 38,100 shares as the company’s stock rose 3.18% while stock markets declined. The institutional investor held 20,951 shares of the business services company at the end of 2017Q4, valued at $3.62 million, down from 59,051 at the end of the previous reported quarter. Glovista Investments Llc who had been investing in Alibaba Group Hldg Ltd for a number of months, seems to be less bullish one the $448.89B market cap company. The stock increased 1.55% or $2.66 during the last trading session, reaching $174.7. About 9.88M shares traded. Alibaba Group Holding Limited (NYSE:BABA) has risen 68.29% since April 17, 2017 and is uptrending. It has outperformed by 56.74% the S&P500.

Putnam Investments Llc decreased its stake in Cit Group Inc (CIT) by 7.35% based on its latest 2017Q4 regulatory filing with the SEC. Putnam Investments Llc sold 11,485 shares as the company’s stock rose 2.13% while stock markets declined. The institutional investor held 144,860 shares of the consumer services company at the end of 2017Q4, valued at $7.13 million, down from 156,345 at the end of the previous reported quarter. Putnam Investments Llc who had been investing in Cit Group Inc for a number of months, seems to be less bullish one the $6.73B market cap company. The stock increased 0.68% or $0.35 during the last trading session, reaching $52.13. About 444,283 shares traded. CIT Group Inc. (NYSE:CIT) has risen 25.02% since April 17, 2017 and is uptrending. It has outperformed by 13.47% the S&P500.

Among 38 analysts covering Alibaba (NYSE:BABA), 36 have Buy rating, 1 Sell and 1 Hold. Therefore 95% are positive. Alibaba had 171 analyst reports since August 12, 2015 according to SRatingsIntel. Robert W. Baird maintained Alibaba Group Holding Limited (NYSE:BABA) on Wednesday, March 14 with “Buy” rating. The company was maintained on Thursday, September 29 by Deutsche Bank. The stock of Alibaba Group Holding Limited (NYSE:BABA) has “Buy” rating given on Friday, August 18 by Stifel Nicolaus. The stock of Alibaba Group Holding Limited (NYSE:BABA) earned “Reduce” rating by Standpoint Research on Thursday, April 20. The stock has “Buy” rating by Bank of America on Sunday, June 11. The rating was maintained by UBS with “Buy” on Friday, August 18. The stock has “Buy” rating by Needham on Thursday, September 28. The stock of Alibaba Group Holding Limited (NYSE:BABA) earned “Buy” rating by Jefferies on Thursday, July 13. The stock of Alibaba Group Holding Limited (NYSE:BABA) has “Buy” rating given on Thursday, September 21 by Robert W. Baird. The rating was maintained by Robert W. Baird on Thursday, June 22 with “Buy”.

Analysts await Alibaba Group Holding Limited (NYSE:BABA) to report earnings on May, 4 before the open. They expect $0.71 earnings per share, up 82.05% or $0.32 from last year’s $0.39 per share. BABA’s profit will be $1.82B for 61.51 P/E if the $0.71 EPS becomes a reality. After $1.34 actual earnings per share reported by Alibaba Group Holding Limited for the previous quarter, Wall Street now forecasts -47.01% negative EPS growth.

Glovista Investments Llc, which manages about $940.85 million and $501.89 million US Long portfolio, upped its stake in Ishares Inc (EZA) by 159,706 shares to 178,405 shares, valued at $12.51 million in 2017Q4, according to the filing. It also increased its holding in Ishares Tr (INDA) by 305,707 shares in the quarter, for a total of 894,953 shares, and has risen its stake in Taiwan Semiconductor Mfg Ltd (NYSE:TSM).

Analysts await CIT Group Inc. (NYSE:CIT) to report earnings on April, 24 before the open. They expect $0.98 EPS, up 81.48% or $0.44 from last year’s $0.54 per share. CIT’s profit will be $126.52 million for 13.30 P/E if the $0.98 EPS becomes a reality. After $0.99 actual EPS reported by CIT Group Inc. for the previous quarter, Wall Street now forecasts -1.01% negative EPS growth.

Investors sentiment decreased to 0.9 in Q4 2017. Its down 0.11, from 1.01 in 2017Q3. It dropped, as 31 investors sold CIT shares while 97 reduced holdings. 41 funds opened positions while 74 raised stakes. 129.34 million shares or 3.85% less from 134.52 million shares in 2017Q3 were reported. Zurcher Kantonalbank (Zurich Cantonalbank) invested 0.01% of its portfolio in CIT Group Inc. (NYSE:CIT). Lombard Odier Asset Mgmt (Usa) has invested 0.08% in CIT Group Inc. (NYSE:CIT). Alliancebernstein Lp holds 0% of its portfolio in CIT Group Inc. (NYSE:CIT) for 120,404 shares. Colony Gp Limited Liability holds 0.01% in CIT Group Inc. (NYSE:CIT) or 4,501 shares. Citadel Lc reported 94,589 shares stake. Stratos Wealth Prtnrs invested in 0% or 370 shares. Hsbc Holding Pcl has 0.01% invested in CIT Group Inc. (NYSE:CIT). Panagora Asset Inc invested in 6,123 shares. Menta Capital Limited Liability Corporation has 0.15% invested in CIT Group Inc. (NYSE:CIT). Quantitative Systematic Strategies Ltd holds 4,878 shares. Clinton Grp Inc has invested 0.03% in CIT Group Inc. (NYSE:CIT). Caisse De Depot Et Placement Du Quebec holds 38,400 shares or 0% of its portfolio. Sumitomo Mitsui Asset Management stated it has 0.01% of its portfolio in CIT Group Inc. (NYSE:CIT). Parametric Port Ltd holds 0.02% or 360,722 shares. Pacific Invest Mgmt holds 0.06% in CIT Group Inc. (NYSE:CIT) or 5,275 shares.

Among 20 analysts covering CIT Group (NYSE:CIT), 8 have Buy rating, 0 Sell and 12 Hold. Therefore 40% are positive. CIT Group had 66 analyst reports since July 23, 2015 according to SRatingsIntel. The firm has “Outperform” rating given on Thursday, October 22 by Macquarie Research. The firm has “Buy” rating given on Tuesday, July 25 by BTIG Research. Credit Suisse maintained CIT Group Inc. (NYSE:CIT) rating on Monday, February 5. Credit Suisse has “Neutral” rating and $54 target. As per Monday, November 9, the company rating was maintained by Stifel Nicolaus. The rating was downgraded by Bank of America on Friday, April 29 to “Underperform”. Oppenheimer maintained the shares of CIT in report on Tuesday, July 25 with “Buy” rating. As per Friday, May 26, the company rating was maintained by Keefe Bruyette & Woods. The company was upgraded on Tuesday, October 11 by Bank of America. The stock of CIT Group Inc. (NYSE:CIT) has “Sell” rating given on Friday, October 6 by BMO Capital Markets. On Monday, September 18 the stock rating was maintained by Morgan Stanley with “Equal-Weight”.

Since March 1, 2018, it had 0 insider purchases, and 1 insider sale for $107,268 activity.

CIT Group Inc. (NYSE:CIT) Institutional Positions Chart

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