Old West Investment Management Has Lifted Its Bank Of America (BAC) Stake; Shorts at Celsion (CLSN) Lowered By 57.6%

December 12, 2017 - By Linda Rogers

Old West Investment Management Llc increased Bank Of America Corp (BAC) stake by 77.52% reported in 2017Q2 SEC filing. Old West Investment Management Llc acquired 54,531 shares as Bank Of America Corp (BAC)’s stock declined 6.00%. The Old West Investment Management Llc holds 124,872 shares with $3.03 million value, up from 70,341 last quarter. Bank Of America Corp now has $307.60B valuation. The stock increased 1.90% or $0.55 during the last trading session, reaching $29.49. About 47.13 million shares traded. Bank of America Corporation (NYSE:BAC) has risen 58.64% since December 12, 2016 and is uptrending. It has outperformed by 41.94% the S&P500.

Celsion Corporation (NASDAQ:CLSN) had a decrease of 57.6% in short interest. CLSN’s SI was 616,200 shares in December as released by FINRA. Its down 57.6% from 1.45M shares previously. With 1.44 million avg volume, 0 days are for Celsion Corporation (NASDAQ:CLSN)’s short sellers to cover CLSN’s short positions. The stock increased 1.14% or $0.03 during the last trading session, reaching $2.67. About 711,955 shares traded. Celsion Corporation (NASDAQ:CLSN) has declined 82.71% since December 12, 2016 and is downtrending. It has underperformed by 99.41% the S&P500.

Old West Investment Management Llc decreased Allergan Plc stake by 2,105 shares to 2,620 valued at $636,000 in 2017Q2. It also reduced Chesapeake Energy Corp (NYSE:CHK) stake by 676,205 shares and now owns 1.10M shares. Theravance Biopharma Inc (NASDAQ:TBPH) was reduced too.

Among 31 analysts covering Bank of America (NYSE:BAC), 21 have Buy rating, 0 Sell and 10 Hold. Therefore 68% are positive. Bank of America had 96 analyst reports since July 21, 2015 according to SRatingsIntel. The company was upgraded on Tuesday, September 1 by Robert W. Baird. The firm has “Underperform” rating by Macquarie Research given on Tuesday, August 25. The firm has “Hold” rating given on Wednesday, May 31 by BMO Capital Markets. Jefferies maintained it with “Buy” rating and $21 target in Tuesday, July 21 report. The firm has “Buy” rating given on Wednesday, October 7 by Jefferies. The rating was maintained by Renaissance Macro Securities LLC on Sunday, July 23 with “Buy”. The rating was maintained by Robert W. Baird on Friday, August 25 with “Hold”. Deutsche Bank maintained the shares of BAC in report on Tuesday, January 26 with “Buy” rating. The stock of Bank of America Corporation (NYSE:BAC) earned “Buy” rating by Keefe Bruyette & Woods on Sunday, August 13. The firm earned “Buy” rating on Tuesday, August 25 by Deutsche Bank.

Investors sentiment decreased to 1.04 in 2017 Q2. Its down 0.08, from 1.12 in 2017Q1. It dropped, as 79 investors sold BAC shares while 543 reduced holdings. 120 funds opened positions while 577 raised stakes. 6.34 billion shares or 0.73% less from 6.39 billion shares in 2017Q1 were reported. Japan-based Legg Mason Asset Mgmt (Japan) Communication Limited has invested 1.48% in Bank of America Corporation (NYSE:BAC). Montrusco Bolton holds 12,236 shares or 0.02% of its portfolio. Edge Wealth Ltd Liability has invested 1.33% in Bank of America Corporation (NYSE:BAC). Boys Arnold & holds 0.14% of its portfolio in Bank of America Corporation (NYSE:BAC) for 44,905 shares. Lathrop Investment Management holds 21,100 shares. Middleton Ma stated it has 0.18% in Bank of America Corporation (NYSE:BAC). The Montana-based Davidson Invest Advsr has invested 1.57% in Bank of America Corporation (NYSE:BAC). Capital Wealth Planning Ltd has 49,061 shares for 0.19% of their portfolio. Crystal Rock Cap Mngmt reported 3.17% stake. Pacific Glob Investment Mngmt Co owns 253,232 shares. 229,142 were reported by Roundview Cap Ltd Liability Co. Nwq Inv Mngmt Lc invested in 1.13% or 3.38M shares. Moreover, Anderson Hoagland And has 3.83% invested in Bank of America Corporation (NYSE:BAC) for 247,259 shares. California-based Mechanics State Bank Trust Department has invested 0.07% in Bank of America Corporation (NYSE:BAC). Creative Planning reported 1.63 million shares or 0.2% of all its holdings.

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