Arrowstreet Capital Limited Partnership Boosted By $54.39 Million Its Best Buy (BBY) Stake; Convergys (CVG) Covered By 0 Bulls

February 24, 2018 - By Darrin Black

Arrowstreet Capital Limited Partnership increased Best Buy Inc (BBY) stake by 128.96% reported in 2017Q3 SEC filing. Arrowstreet Capital Limited Partnership acquired 971,250 shares as Best Buy Inc (BBY)’s stock rose 13.46%. The Arrowstreet Capital Limited Partnership holds 1.72M shares with $98.22M value, up from 753,161 last quarter. Best Buy Inc now has $21.39B valuation. The stock increased 2.64% or $1.88 during the last trading session, reaching $73.17. About 2.32M shares traded. Best Buy Co., Inc. (NYSE:BBY) has risen 62.80% since February 24, 2017 and is uptrending. It has outperformed by 46.10% the S&P500.

Among 7 analysts covering Convergys Corp (NYSE:CVG), 0 have Buy rating, 0 Sell and 7 Hold. Therefore 0 are positive. Convergys Corp had 15 analyst reports since August 14, 2015 according to SRatingsIntel. The rating was upgraded by Zacks to “Sell” on Wednesday, August 26. The firm has “Sell” rating by Zacks given on Friday, August 14. As per Friday, November 10, the company rating was maintained by Citigroup. The rating was maintained by Robert W. Baird with “Hold” on Thursday, January 25. Sidoti downgraded Convergys Corporation (NYSE:CVG) on Wednesday, October 21 to “Neutral” rating. SunTrust maintained the shares of CVG in report on Monday, October 9 with “Hold” rating. The firm earned “Market Perform” rating on Thursday, February 25 by Wells Fargo. The stock of Convergys Corporation (NYSE:CVG) earned “Hold” rating by Zacks on Friday, September 4. The firm earned “Neutral” rating on Wednesday, August 10 by Citigroup. Robert W. Baird maintained it with “Hold” rating and $24.0 target in Friday, September 15 report. See Convergys Corporation (NYSE:CVG) latest ratings:

25/01/2018 Broker: Robert W. Baird Rating: Hold New Target: $23.0 Maintain
10/11/2017 Broker: Citigroup Rating: Neutral Old Target: $25 New Target: $24 Maintain
20/10/2017 Broker: Robert W. Baird Rating: Hold New Target: $24.0 Maintain
17/10/2017 Broker: Barrington Research Rating: Market Perform Initiates Coverage On
09/10/2017 Broker: SunTrust Rating: Hold New Target: $26.0 Maintain
15/09/2017 Broker: Robert W. Baird Rating: Hold New Target: $24.0 Maintain

Since September 5, 2017, it had 0 insider buys, and 1 sale for $1.03 million activity. FOX JEFFREY H sold $1.03M worth of stock or 43,609 shares.

Investors sentiment increased to 1.09 in Q3 2017. Its up 0.16, from 0.93 in 2017Q2. It improved, as 19 investors sold Convergys Corporation shares while 79 reduced holdings. 27 funds opened positions while 80 raised stakes. 94.23 million shares or 0.36% more from 93.90 million shares in 2017Q2 were reported. Zebra Capital has invested 0.66% in Convergys Corporation (NYSE:CVG). Advisory Ser Net Llc holds 139 shares or 0% of its portfolio. Amalgamated Bankshares accumulated 0.01% or 12,643 shares. Alliancebernstein Limited Partnership accumulated 3.79 million shares. Yorktown & Inc invested 0.08% of its portfolio in Convergys Corporation (NYSE:CVG). Deutsche Comml Bank Ag accumulated 1.09 million shares or 0.02% of the stock. Martingale Asset Lp holds 264,499 shares. 6,176 are owned by Huntington Commercial Bank. Lsv Asset Management has invested 0.2% in Convergys Corporation (NYSE:CVG). Proshare Advsr Limited Liability Company owns 12,912 shares for 0% of their portfolio. State Board Of Administration Of Florida Retirement Sys reported 130,357 shares stake. Sg Americas Ltd Liability has 0.01% invested in Convergys Corporation (NYSE:CVG) for 53,956 shares. Wright Service owns 10,589 shares for 0.1% of their portfolio. Envestnet Asset Management holds 0% or 851 shares in its portfolio. Putnam Investments Ltd Liability Com has 0.01% invested in Convergys Corporation (NYSE:CVG) for 212,226 shares.

The stock decreased 1.94% or $0.47 during the last trading session, reaching $23.77. About 853,597 shares traded. Convergys Corporation (NYSE:CVG) has declined 10.85% since February 24, 2017 and is downtrending. It has underperformed by 27.55% the S&P500.

Convergys Corporation provides customer management services to communications and media, technology, financial services, retail, and healthcare industries in North America and internationally. The company has market cap of $2.20 billion. The firm offers solutions across the customer lifecycle, including sales, customer service, technical support, customer retention, and collection services; and solutions in contact center technology comprising multichannel interaction, cross-channel integration framework, real-time decisioning engine, robotic process automation, intelligent notification, campaign management, personalized care, personalized selling, agent productivity, and retention solutions. It has a 18.2 P/E ratio. It also provides analytics and consulting, and software solutions, including integrated customer experience analytics, post-contact surveys, relational loyalty research, customer segmentation and profiling, call elimination analysis, analysis of customer effort, digital channel optimization, and integrated contact center analytics solutions, as well as voice of customer SaaS software for measuring customer satisfaction.

Arrowstreet Capital Limited Partnership decreased Golden Entmt Inc stake by 15,700 shares to 163,202 valued at $3.98 million in 2017Q3. It also reduced Trueblue Inc (NYSE:TBI) stake by 71,100 shares and now owns 135,494 shares. Walgreens Boots Alliance Inc was reduced too.

Since September 5, 2017, it had 0 buys, and 11 insider sales for $157.03 million activity. MOHAN RAJENDRA M also sold $779,765 worth of Best Buy Co., Inc. (NYSE:BBY) on Tuesday, September 5. 10,593 shares were sold by Nelsen Keith J, worth $579,246 on Tuesday, September 5. SCHULZE RICHARD M had sold 75,000 shares worth $4.89M on Friday, December 15. $5.85M worth of Best Buy Co., Inc. (NYSE:BBY) was sold by Joly Hubert. Barry Corie S sold $179,440 worth of Best Buy Co., Inc. (NYSE:BBY) on Tuesday, October 3. $566,694 worth of Best Buy Co., Inc. (NYSE:BBY) was sold by Scarlett Kathleen. Shares for $61,736 were sold by Watson Mathew.

Investors sentiment decreased to 0.76 in 2017 Q3. Its down 0.03, from 0.79 in 2017Q2. It dropped, as 60 investors sold BBY shares while 189 reduced holdings. 54 funds opened positions while 136 raised stakes. 246.28 million shares or 2.83% less from 253.45 million shares in 2017Q2 were reported. Advantus Capital stated it has 0.04% in Best Buy Co., Inc. (NYSE:BBY). Contravisory Investment reported 0.09% in Best Buy Co., Inc. (NYSE:BBY). Robeco Institutional Asset Mngmt Bv owns 1.23M shares. First Advsr Lp holds 0.06% or 430,029 shares. Korea Investment holds 0.05% or 185,255 shares. 185,030 were reported by Pictet Asset Mgmt Limited. 15,000 are held by Wolverine Asset Ltd Liability. Bridgeway Mgmt Inc has invested 0.83% in Best Buy Co., Inc. (NYSE:BBY). Fiduciary Tru owns 11,584 shares for 0.02% of their portfolio. Chevy Chase Trust accumulated 233,668 shares. Moreover, Laffer Invs has 0.49% invested in Best Buy Co., Inc. (NYSE:BBY) for 32,880 shares. 118,597 are owned by Twin Cap Mngmt. South State Corporation invested in 0.03% or 4,740 shares. Mason Street Advisors Limited Com reported 36,831 shares stake. Alpha Windward Ltd invested in 0.03% or 960 shares.

Among 27 analysts covering Best Buy Co (NYSE:BBY), 9 have Buy rating, 4 Sell and 14 Hold. Therefore 33% are positive. Best Buy Co had 96 analyst reports since August 10, 2015 according to SRatingsIntel. The firm earned “Outperform” rating on Friday, January 15 by Telsey Advisory Group. As per Wednesday, May 25, the company rating was downgraded by Deutsche Bank. The firm earned “Buy” rating on Wednesday, September 20 by Piper Jaffray. Telsey Advisory Group maintained the shares of BBY in report on Monday, January 18 with “Outperform” rating. The rating was maintained by RBC Capital Markets with “Sector Perform” on Thursday, March 2. The stock has “Hold” rating by Jefferies on Monday, September 18. The company was downgraded on Friday, January 15 by Wedbush. On Monday, May 15 the stock rating was upgraded by Loop Capital to “Hold”. The company was maintained on Wednesday, August 24 by Telsey Advisory Group. On Monday, March 27 the stock rating was upgraded by PiperJaffray to “Overweight”.

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