Advent Capital Management Has Cut Its Verizon Communications (VZ) Holding by $1.96 Million as Stock Value Declined; Huntington Bancshares (HBANP) Shareholder Camden Asset Management LP Has Decreased Its Stake by $15.82 Million as Shares Were Volatile

February 24, 2018 - By Peter Erickson

Advent Capital Management decreased its stake in Verizon Communications Inc (VZ) by 24.24% based on its latest 2017Q3 regulatory filing with the SEC. Advent Capital Management sold 40,000 shares as the company’s stock declined 7.66% while stock markets rallied. The institutional investor held 125,000 shares of the telecommunications equipment company at the end of 2017Q3, valued at $6.19 million, down from 165,000 at the end of the previous reported quarter. Advent Capital Management who had been investing in Verizon Communications Inc for a number of months, seems to be less bullish one the $196.98B market cap company. The stock increased 0.88% or $0.42 during the last trading session, reaching $48.29. About 26.37 million shares traded or 46.46% up from the average. Verizon Communications Inc. (NYSE:VZ) has declined 8.48% since February 24, 2017 and is downtrending. It has underperformed by 25.18% the S&P500.

Camden Asset Management LP decreased its stake in Huntington Bancshares Inc (HBANP) by 16.17% based on its latest 2017Q3 regulatory filing with the SEC. Camden Asset Management LP sold 10,991 shares as the company’s stock 0.00% . The hedge fund held 56,966 shares of the major banks company at the end of 2017Q3, valued at $82.03 million, down from 67,957 at the end of the previous reported quarter. Camden Asset Management LP who had been investing in Huntington Bancshares Inc for a number of months, seems to be less bullish one the $17.26B market cap company. The stock decreased 2.45% or $33.07 during the last trading session, reaching $1316. About 1,293 shares traded. Huntington Bancshares Incorporated (NASDAQ:HBANP) has 0.00% since February 24, 2017 and is . It has underperformed by 16.70% the S&P500.

Camden Asset Management L P, which manages about $4.65 billion and $3.03B US Long portfolio, upped its stake in On Semiconductor Corp (Prn) by 550,000 shares to 6.05M shares, valued at $7.22M in 2017Q3, according to the filing. It also increased its holding in Verisign Inc (Prn) by 6.07 million shares in the quarter, for a total of 55.76M shares, and has risen its stake in Priceline Grp Inc (Prn).

Analysts await Verizon Communications Inc. (NYSE:VZ) to report earnings on April, 19. They expect $1.09 EPS, up 14.74% or $0.14 from last year’s $0.95 per share. VZ’s profit will be $4.45B for 11.08 P/E if the $1.09 EPS becomes a reality. After $0.86 actual EPS reported by Verizon Communications Inc. for the previous quarter, Wall Street now forecasts 26.74% EPS growth.

Since August 28, 2017, it had 0 insider purchases, and 3 selling transactions for $406,645 activity. The insider SILLIMAN CRAIG L. sold $29,677.

Advent Capital Management, which manages about $5.28B US Long portfolio, upped its stake in American Airlines Group Inc (NASDAQ:AAL) by 50,000 shares to 150,000 shares, valued at $7.12 million in 2017Q3, according to the filing. It also increased its holding in Wells Fargo & Company by 6,862 shares in the quarter, for a total of 78,009 shares, and has risen its stake in Welltower Inc.

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