Highfields Capital Management LP Has Trimmed Stake in Firstenergy (FE) as Stock Value Declined; Activision Blizzard (ATVI) Holder Matrix Capital Management Company LP Increased Stake

February 15, 2018 - By Pete Kolinski

Jonathon Jacobson decreased its stake in Firstenergy Corp (FE) by 5% based on its latest 2017Q3 regulatory filing with the SEC. Highfields Capital Management Lp sold 50,000 shares as the company’s stock declined 8.93% while stock markets rallied. The hedge fund run by Jonathon Jacobson held 950,000 shares of the central company at the end of 2017Q3, valued at $29.29M, down from 1.00M at the end of the previous reported quarter. Highfields Capital Management Lp who had been investing in Firstenergy Corp for a number of months, seems to be less bullish one the $14.21B market cap company. The stock decreased 0.47% or $0.15 during the last trading session, reaching $31.95. About 7.64 million shares traded or 14.09% up from the average. FirstEnergy Corp. (NYSE:FE) has declined 12.70% since February 15, 2017 and is downtrending. It has underperformed by 29.40% the S&P500.

David Goel increased its stake in Activision Blizzard Inc (ATVI) by 184.62% based on its latest 2017Q3 regulatory filing with the SEC. Matrix Capital Management Company Lp bought 600,000 shares as the company’s stock rose 23.27% with the market. The hedge fund run by David Goel held 925,000 shares of the technology company at the end of 2017Q3, valued at $59.67M, up from 325,000 at the end of the previous reported quarter. Matrix Capital Management Company Lp who had been investing in Activision Blizzard Inc for a number of months, seems to be bullish on the $52.66B market cap company. The stock increased 2.38% or $1.62 during the last trading session, reaching $69.65. About 7.20M shares traded or 17.43% up from the average. Activision Blizzard, Inc. (NASDAQ:ATVI) has risen 47.83% since February 15, 2017 and is uptrending. It has outperformed by 31.13% the S&P500.

Highfields Capital Management Lp, which manages about $22.71 billion and $11.61 billion US Long portfolio, upped its stake in Cenovus Energy Inc (NYSE:CVE) by 18.63M shares to 21.63M shares, valued at $216.31 million in 2017Q3, according to the filing. It also increased its holding in Dollar Tree Inc (NASDAQ:DLTR) by 1.34M shares in the quarter, for a total of 2.34 million shares, and has risen its stake in Monsanto Co New (NYSE:MON).

Investors sentiment decreased to 1.13 in Q3 2017. Its down 0.08, from 1.21 in 2017Q2. It is negative, as 35 investors sold FE shares while 155 reduced holdings. 54 funds opened positions while 161 raised stakes. 360.52 million shares or 3.08% more from 349.76 million shares in 2017Q2 were reported. First Allied Advisory Services stated it has 18,889 shares. Moreover, Brown Brothers Harriman & has 0% invested in FirstEnergy Corp. (NYSE:FE). Hexavest has 0.37% invested in FirstEnergy Corp. (NYSE:FE). Loring Wolcott Coolidge Fiduciary Limited Liability Partnership Ma has 0% invested in FirstEnergy Corp. (NYSE:FE). Cornerstone has 284 shares for 0.01% of their portfolio. Arrow Financial Corp reported 0.01% in FirstEnergy Corp. (NYSE:FE). Rare Ltd has invested 0.01% in FirstEnergy Corp. (NYSE:FE). Barclays Public Limited Co invested in 0.01% or 369,121 shares. Fukoku Mutual Life Insur holds 0.02% of its portfolio in FirstEnergy Corp. (NYSE:FE) for 3,700 shares. First Republic has 0% invested in FirstEnergy Corp. (NYSE:FE). Ngam Advisors LP reported 0.04% stake. Crow Point Ltd Liability Corp stated it has 1.44% in FirstEnergy Corp. (NYSE:FE). Evercore Wealth Mngmt Ltd Liability Corp holds 0% in FirstEnergy Corp. (NYSE:FE) or 620 shares. State Of Alaska Department Of Revenue has 47,061 shares for 0.07% of their portfolio. 43,734 are owned by Profund Advsr Ltd Llc.

Among 20 analysts covering FirstEnergy (NYSE:FE), 7 have Buy rating, 1 Sell and 12 Hold. Therefore 35% are positive. FirstEnergy had 73 analyst reports since July 21, 2015 according to SRatingsIntel. The stock of FirstEnergy Corp. (NYSE:FE) earned “Hold” rating by Jefferies on Tuesday, September 5. The stock has “Sector Perform” rating by RBC Capital Markets on Thursday, April 28. The firm earned “Sell” rating on Friday, September 18 by Citigroup. The stock of FirstEnergy Corp. (NYSE:FE) earned “Neutral” rating by Citigroup on Tuesday, October 18. The rating was upgraded by Goldman Sachs on Monday, October 19 to “Neutral”. RBC Capital Markets maintained FirstEnergy Corp. (NYSE:FE) on Thursday, October 13 with “Sector Perform” rating. The company was maintained on Wednesday, October 25 by Mizuho. The rating was maintained by Citigroup on Tuesday, October 17 with “Neutral”. BMO Capital Markets maintained it with “Hold” rating and $3400 target in Friday, July 28 report. Citigroup maintained it with “Sell” rating and $31 target in Wednesday, July 20 report.

Analysts await FirstEnergy Corp. (NYSE:FE) to report earnings on February, 20. They expect $0.66 earnings per share, up 73.68% or $0.28 from last year’s $0.38 per share. FE’s profit will be $293.60M for 12.10 P/E if the $0.66 EPS becomes a reality. After $0.97 actual earnings per share reported by FirstEnergy Corp. for the previous quarter, Wall Street now forecasts -31.96% negative EPS growth.

Among 30 analysts covering Activision Blizzard (NASDAQ:ATVI), 24 have Buy rating, 0 Sell and 6 Hold. Therefore 80% are positive. Activision Blizzard had 130 analyst reports since July 28, 2015 according to SRatingsIntel. The company was maintained on Friday, October 6 by Jefferies. Benchmark maintained it with “Buy” rating and $40.45 target in Friday, May 6 report. The firm has “Neutral” rating given on Thursday, July 28 by M Partners. The rating was maintained by Mizuho on Friday, February 12 with “Buy”. On Monday, July 10 the stock rating was maintained by Cowen & Co with “Buy”. The rating was maintained by Stifel Nicolaus with “Buy” on Thursday, September 7. Barclays Capital maintained it with “Overweight” rating and $35 target in Thursday, March 17 report. As per Wednesday, November 4, the company rating was maintained by Mizuho. The rating was maintained by Credit Suisse with “Buy” on Monday, July 24. The firm has “Buy” rating by UBS given on Friday, February 12.

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