Lateef Investment Management LP Decreased Its Holding in Synchrony Financial (SYF) by $366,699; Goldentree Asset Management LP Increased Its Holding in Parsley Energy (PE) by $17.61 Million as Stock Price Declined

February 23, 2018 - By Marguerite Chambers

Steven Tananbaum increased its stake in Parsley Energy Inc (PE) by 110.32% based on its latest 2017Q3 regulatory filing with the SEC. Goldentree Asset Management Lp bought 677,348 shares as the company’s stock declined 0.66% while stock markets rallied. The hedge fund run by Steven Tananbaum held 1.29M shares of the energy company at the end of 2017Q3, valued at $34.01M, up from 613,977 at the end of the previous reported quarter. Goldentree Asset Management Lp who had been investing in Parsley Energy Inc for a number of months, seems to be bullish on the $8.15 billion market cap company. The stock increased 3.55% or $0.89 during the last trading session, reaching $25.93. About 3.49M shares traded. Parsley Energy, Inc. (NYSE:PE) has risen 26.09% since February 23, 2017 and is uptrending. It has outperformed by 9.39% the S&P500.

Lateef Investment Management Lp decreased its stake in Synchrony Financial (SYF) by 1.24% based on its latest 2017Q3 regulatory filing with the SEC. Lateef Investment Management Lp sold 11,829 shares as the company’s stock declined 26.83% while stock markets rallied. The institutional investor held 941,163 shares of the consumer services company at the end of 2017Q3, valued at $29.22M, down from 952,992 at the end of the previous reported quarter. Lateef Investment Management Lp who had been investing in Synchrony Financial for a number of months, seems to be less bullish one the $28.48B market cap company. The stock increased 1.73% or $0.63 during the last trading session, reaching $36.96. About 1.79M shares traded. Synchrony Financial (NYSE:SYF) has declined 10.35% since February 23, 2017 and is downtrending. It has underperformed by 27.05% the S&P500.

Analysts await Synchrony Financial (NYSE:SYF) to report earnings on April, 27. They expect $0.79 EPS, up 29.51% or $0.18 from last year’s $0.61 per share. SYF’s profit will be $608.70M for 11.70 P/E if the $0.79 EPS becomes a reality. After $0.70 actual EPS reported by Synchrony Financial for the previous quarter, Wall Street now forecasts 12.86% EPS growth.

Among 29 analysts covering Synchrony Financial (NYSE:SYF), 22 have Buy rating, 0 Sell and 7 Hold. Therefore 76% are positive. Synchrony Financial had 69 analyst reports since July 20, 2015 according to SRatingsIntel. Sterne Agee CRT initiated the shares of SYF in report on Thursday, September 10 with “Neutral” rating. As per Monday, October 23, the company rating was maintained by Wells Fargo. The firm earned “Hold” rating on Tuesday, October 10 by Wells Fargo. Bank of America downgraded the stock to “Hold” rating in Friday, October 6 report. The stock of Synchrony Financial (NYSE:SYF) has “Neutral” rating given on Wednesday, December 7 by Wedbush. The rating was maintained by BMO Capital Markets on Wednesday, April 12 with “Buy”. Jefferies maintained Synchrony Financial (NYSE:SYF) rating on Wednesday, January 10. Jefferies has “Buy” rating and $50.0 target. The firm earned “Buy” rating on Wednesday, June 7 by Jefferies. Barclays Capital maintained Synchrony Financial (NYSE:SYF) rating on Monday, October 23. Barclays Capital has “Overweight” rating and $40 target. The rating was maintained by Morgan Stanley on Monday, October 23 with “Equal-Weight”.

Lateef Investment Management Lp, which manages about $5.98 billion and $1.12B US Long portfolio, upped its stake in Allergan Plc by 18,678 shares to 201,873 shares, valued at $41.37M in 2017Q3, according to the filing.

Investors sentiment decreased to 1.13 in Q3 2017. Its down 0.27, from 1.4 in 2017Q2. It fall, as 51 investors sold PE shares while 91 reduced holdings. 49 funds opened positions while 111 raised stakes. 246.67 million shares or 3.47% more from 238.40 million shares in 2017Q2 were reported. Fjarde Ap holds 0.05% or 103,071 shares in its portfolio. 5.19M were reported by Price T Rowe Assocs Incorporated Md. Broadview Advisors Limited Liability invested 0.26% of its portfolio in Parsley Energy, Inc. (NYSE:PE). Loring Wolcott Coolidge Fiduciary Advisors Llp Ma has invested 0% of its portfolio in Parsley Energy, Inc. (NYSE:PE). Toronto Dominion National Bank & Trust holds 0% of its portfolio in Parsley Energy, Inc. (NYSE:PE) for 9,369 shares. Moore Mgmt Ltd Partnership invested in 0.04% or 75,000 shares. Cwm Ltd Liability holds 0% or 113 shares in its portfolio. Capital Fund Mgmt invested 0.05% of its portfolio in Parsley Energy, Inc. (NYSE:PE). Glenmede Na reported 213 shares stake. Maryland-based Adams Natural Resource Fund has invested 0.89% in Parsley Energy, Inc. (NYSE:PE). Bank & Trust Of America De owns 1.53 million shares. Westpac Banking invested in 0.01% or 16,823 shares. Macquarie Grp Incorporated holds 329,944 shares. Cushing Asset Mngmt LP accumulated 0.29% or 339,091 shares. Luminus Mgmt Limited Com has 421,200 shares for 0.29% of their portfolio.

Goldentree Asset Management Lp, which manages about $22.00 billion and $277.91 million US Long portfolio, decreased its stake in Spirit Rlty Cap Inc New (NYSE:SRC) by 942,179 shares to 1.22M shares, valued at $10.48 million in 2017Q3, according to the filing. It also reduced its holding in Microsemi Corp (NASDAQ:MSCC) by 23,288 shares in the quarter, leaving it with 455,823 shares, and cut its stake in Phh Corp (NYSE:PHH).

Among 36 analysts covering Parsley Energy Inc (NYSE:PE), 29 have Buy rating, 0 Sell and 7 Hold. Therefore 81% are positive. Parsley Energy Inc had 127 analyst reports since July 21, 2015 according to SRatingsIntel. The stock has “Outperform” rating by Macquarie Research on Monday, September 21. As per Monday, December 11, the company rating was maintained by Northland Capital. The stock of Parsley Energy, Inc. (NYSE:PE) earned “Buy” rating by Citigroup on Tuesday, August 15. The firm has “Buy” rating given on Friday, May 5 by BMO Capital Markets. Evercore initiated the stock with “Buy” rating in Friday, October 2 report. The firm has “Outperform” rating by Credit Suisse given on Friday, August 21. Topeka Capital Markets maintained Parsley Energy, Inc. (NYSE:PE) on Thursday, February 25 with “Buy” rating. On Tuesday, October 20 the stock rating was initiated by Canaccord Genuity with “Buy”. The stock of Parsley Energy, Inc. (NYSE:PE) earned “Buy” rating by RBC Capital Markets on Thursday, September 7. The rating was maintained by PiperJaffray on Monday, September 18 with “Overweight”.

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