As Gerdau S A (GGB) Shares Rose, Contrarian Capital Management LLC Has Increased Holding

Gerdau S.A. (NYSE:GGB) Logo

Contrarian Capital Management Llc increased its stake in Gerdau S A (GGB) by 100.85% based on its latest 2018Q4 regulatory filing with the SEC. Contrarian Capital Management Llc bought 8.07 million shares as the company’s stock rose 3.05% with the market. The hedge fund held 16.07M shares of the steel and iron ore company at the end of 2018Q4, valued at $60.42 million, up from 8.00M at the end of the previous reported quarter. Contrarian Capital Management Llc who had been investing in Gerdau S A for a number of months, seems to be bullish on the $6.14B market cap company. The stock decreased 3.43% or $0.14 during the last trading session, reaching $3.94. About 8.83M shares traded. Gerdau S.A. (NYSE:GGB) has declined 21.26% since April 11, 2018 and is downtrending. It has underperformed by 25.63% the S&P500.

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Another recent and important Gerdau S.A. (NYSE:GGB) news was published by Seekingalpha.com which published an article titled: “Gerdau: The Brazilian Play On U.S. Steel – Seeking Alpha” on December 31, 2018.