Trexquant Investment LP Buys 153,401 Shares of Braskem S.A. (NYSE:BAK)

by · The Markets Daily

Trexquant Investment LP lifted its stake in shares of Braskem S.A. (NYSE:BAK – Free Report) by 145.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 258,638 shares of the company’s stock after purchasing an additional 153,401 shares during the period. Trexquant Investment LP owned 0.06% of Braskem worth $998,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BAK. Jane Street Group LLC raised its stake in shares of Braskem by 106.8% during the 3rd quarter. Jane Street Group LLC now owns 90,736 shares of the company’s stock worth $666,000 after purchasing an additional 46,858 shares in the last quarter. Fox Run Management L.L.C. raised its stake in Braskem by 103.3% in the 4th quarter. Fox Run Management L.L.C. now owns 35,366 shares of the company’s stock valued at $137,000 after acquiring an additional 17,971 shares during the period. Verition Fund Management LLC bought a new stake in Braskem in the 3rd quarter valued at $123,000. Signaturefd LLC bought a new stake in Braskem in the 4th quarter valued at $53,000. Finally, Blue Trust Inc. raised its stake in Braskem by 2,510.3% in the 4th quarter. Blue Trust Inc. now owns 13,130 shares of the company’s stock valued at $51,000 after acquiring an additional 12,627 shares during the period.

Braskem Price Performance

BAK stock opened at $3.32 on Friday. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -0.93 and a beta of 1.80. The business’s fifty day moving average price is $3.92 and its two-hundred day moving average price is $4.80. Braskem S.A. has a fifty-two week low of $2.85 and a fifty-two week high of $9.70.

Braskem (NYSE:BAK – Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.01). The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.52 billion. Braskem had a negative return on equity of 439.59% and a negative net margin of 9.88%. Research analysts expect that Braskem S.A. will post -0.77 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Scotiabank cut Braskem from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, March 3rd.

Get Our Latest Analysis on Braskem

Braskem Profile

(Free Report)

Braskem SA, together with its subsidiaries, produces and sells thermoplastic resins. The company operates through three segments: Brazil, United States and Europe, and Mexico. The Brazil segment produces and sells olefins, including ethylene, polymer and chemical grade propylene, butadiene, and butene-1; benzene, toluene, and xylenes products; fuels, such as automotive gasoline, liquefied petroleum gas, ethyl tertiary-butyl ether, and methyl tertiary-butyl ether; intermediates, such as cumene; aliphatics, aromatics, and hydrogenated solvents; and specialties comprising isoprene, dicyclopentadiene, piperylene, nonene, tetramer, polyisobutylene, and hydrocarbon resins.

Recommended Stories