As Netease (NTES) Valuation Declined, Alkeon Capital Management Trimmed Position; Linden Advisors LP Lowered Bank Of America (BAC) Position as Share Value Declined

August 12, 2018 - By Robert Shackelford

Bank of America Corporation (NYSE:BAC) Logo

Linden Advisors Lp decreased its stake in Bank Of America Corp (BAC) by 10.18% based on its latest 2018Q1 regulatory filing with the SEC. Linden Advisors Lp sold 176,100 shares as the company’s stock declined 6.97% with the market. The institutional investor held 1.55 million shares of the major banks company at the end of 2018Q1, valued at $46.60 million, down from 1.73M at the end of the previous reported quarter. Linden Advisors Lp who had been investing in Bank Of America Corp for a number of months, seems to be less bullish one the $311.53B market cap company. The stock decreased 1.30% or $0.41 during the last trading session, reaching $31.19. About 55.68M shares traded. Bank of America Corporation (NYSE:BAC) has risen 29.72% since August 12, 2017 and is uptrending. It has outperformed by 17.15% the S&P500. Some Historical BAC News: 16/05/2018 – Penumbra Presenting at Bank of America Conference Tomorrow; 05/03/2018 MOVES-Chubb, Deutsche Asset Management, Euromoney, BOfA Merrill, Moelis; 09/05/2018 – Norfolk Southern at Bank of America Conference May 15; 03/05/2018 – American Renal Presenting at Bank of America Conference May 16; 13/03/2018 – Lanxess kicks off purification unit sale via BAML – sources [16:27 GMT13 Mar 2018] [Proprietary] []; 20/04/2018 – BAML Global Monetary Policy Forecasts as of April 20 (Table); 23/05/2018 – Arrow Electronics at Bank of America Conference Jun 5; 16/05/2018 – Evolus Presenting at Bank of America Conference Tomorrow; 30/05/2018 – AT&T to Webcast Keynote by David Christopher at Bank of America Merrill Lynch Conference on June 6; 09/05/2018 – BofA Banker Michael Dolce Is Said to Depart for Madison Dearborn

Alkeon Capital Management Llc decreased its stake in Netease Inc (NTES) by 18.85% based on its latest 2018Q1 regulatory filing with the SEC. Alkeon Capital Management Llc sold 75,430 shares as the company’s stock declined 25.93% with the market. The hedge fund held 324,771 shares of the miscellaneous company at the end of 2018Q1, valued at $91.06 million, down from 400,201 at the end of the previous reported quarter. Alkeon Capital Management Llc who had been investing in Netease Inc for a number of months, seems to be less bullish one the $29.51 billion market cap company. The stock decreased 0.24% or $0.55 during the last trading session, reaching $224.67. About 1.78M shares traded or 59.91% up from the average. NetEase, Inc. (NASDAQ:NTES) has declined 22.10% since August 12, 2017 and is downtrending. It has underperformed by 34.67% the S&P500. Some Historical NTES News: 16/05/2018 – Netease 1Q Net $119.9M; 20/03/2018 – NetEase Presents New Real-Time Sci-Fi Strategy Title, Galactic Frontline, at GDC 2018; 04/05/2018 – NetEase Cloud Music and Big Hit Entertainment team up to launch BTS’ song catalog; 16/05/2018 – NETEASE 1Q REV. $2.26B, EST. $2.20B; 13/03/2018 – Cross-Licensing Agreement is Signed Between NetEase Cloud Music and AliMusic; 23/05/2018 – Caixin: Baidu, NetEase Join Queue for Issuing CDRs; 27/04/2018 – NetEase Youdao Completes Its First Strategic Funding, Getting the Firm Admitted into the “Unicorn” Club with a Valuation of $1; 25/04/2018 – NETEASE INC NTES.O : CLSA RAISES TO OUTPERFORM FROM UNDERPERFORM; 22/05/2018 – NetEase Unveils Games Pipeline at Fourth Annual Game Enthusiasts’ Day; 11/05/2018 – HSBC Adds Santander Brasil, Exits Sensata, Cuts Netease: 13F

Investors sentiment decreased to 0.95 in 2018 Q1. Its down 0.24, from 1.19 in 2017Q4. It dived, as 73 investors sold BAC shares while 633 reduced holdings. 134 funds opened positions while 535 raised stakes. 6.66 billion shares or 2.67% less from 6.85 billion shares in 2017Q4 were reported. Ipswich Inv Com invested in 10,176 shares or 0.13% of the stock. Texas-based Visionary Asset Mngmt has invested 0.09% in Bank of America Corporation (NYSE:BAC). Bridgecreek Inv Limited Liability Corporation holds 0.07% or 9,950 shares. Halsey Assoc Incorporated Ct has invested 0.04% in Bank of America Corporation (NYSE:BAC). Seminole Management Incorporated owns 13.69% invested in Bank of America Corporation (NYSE:BAC) for 1.98M shares. Kistler holds 0.22% of its portfolio in Bank of America Corporation (NYSE:BAC) for 17,667 shares. Ls Investment Advisors Limited Liability Corp reported 818,633 shares stake. Soros Fund Mngmt Ltd Llc holds 1.18% or 2.42M shares. Beck Management has 2.93% invested in Bank of America Corporation (NYSE:BAC). Buckingham Capital Mngmt Inc has invested 1.95% in Bank of America Corporation (NYSE:BAC). Lenox Wealth Management reported 0.04% in Bank of America Corporation (NYSE:BAC). Forbes J M And Llp has 278,175 shares. Ifrah Fincl Services Inc holds 0.08% in Bank of America Corporation (NYSE:BAC) or 7,567 shares. Dana Investment Advsrs Inc invested in 1.15M shares or 1.55% of the stock. Suffolk Cap Management Limited Liability Company reported 1.24% of its portfolio in Bank of America Corporation (NYSE:BAC).

Among 33 analysts covering Bank of America (NYSE:BAC), 22 have Buy rating, 0 Sell and 11 Hold. Therefore 67% are positive. Bank of America had 114 analyst reports since July 21, 2015 according to SRatingsIntel. The company was upgraded on Thursday, September 10 by Wells Fargo. The rating was maintained by Keefe Bruyette & Woods with “Buy” on Sunday, August 13. Bernstein upgraded Bank of America Corporation (NYSE:BAC) rating on Tuesday, August 25. Bernstein has “Mkt Perform” rating and $19.0 target. The rating was maintained by Raymond James on Tuesday, December 5 with “Buy”. BMO Capital Markets maintained the shares of BAC in report on Friday, October 6 with “Hold” rating. The firm has “Buy” rating by Keefe Bruyette & Woods given on Wednesday, April 4. On Friday, April 7 the stock rating was maintained by Wood with “Outperform”. On Tuesday, August 11 the stock rating was downgraded by Vetr to “Buy”. The firm earned “Outperform” rating on Monday, August 24 by KBW. The rating was maintained by RBC Capital Markets with “Buy” on Tuesday, July 18.

Analysts await Bank of America Corporation (NYSE:BAC) to report earnings on October, 12. They expect $0.63 EPS, up 31.25% or $0.15 from last year’s $0.48 per share. BAC’s profit will be $6.29B for 12.38 P/E if the $0.63 EPS becomes a reality. After $0.63 actual EPS reported by Bank of America Corporation for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

More notable recent Bank of America Corporation (NYSE:BAC) news were published by: Seekingalpha.com which released: “Bank Of America: This 5.875% Preferred Stock Has Begun Trading On The NYSE” on July 28, 2018, also Seekingalpha.com with their article: “Bank Of America: Shareholder Cash Rewards” published on July 19, 2018, Seekingalpha.com published: “Bank Of America: Still A Buy” on August 07, 2018. More interesting news about Bank of America Corporation (NYSE:BAC) were released by: Bizjournals.com and their article: “Bank of America rewrites playbook for launching branches in new markets” published on August 09, 2018 as well as Seekingalpha.com‘s news article titled: “Big banks fall more than the broader market as yield spread narrows” with publication date: August 10, 2018.

Linden Advisors Lp, which manages about $2.03B and $4.22 billion US Long portfolio, upped its stake in Repligen Corp 2.125 01Jun21 (Prn) by 500,000 shares to 27.95 million shares, valued at $36.10 million in 2018Q1, according to the filing. It also increased its holding in Time Warner Inc (NYSE:TWX) by 50,000 shares in the quarter, for a total of 158,288 shares, and has risen its stake in Layne Christensen 4.25 15Nov18 (Prn).

Alkeon Capital Management Llc, which manages about $5.66 billion and $18.88 billion US Long portfolio, upped its stake in American Tower Corp New (NYSE:AMT) by 33,450 shares to 1.28M shares, valued at $186.69M in 2018Q1, according to the filing. It also increased its holding in Jd Com Inc (Call) (NASDAQ:JD) by 2.30M shares in the quarter, for a total of 8.50 million shares, and has risen its stake in Carlyle Group LP (NASDAQ:CG).

More notable recent NetEase, Inc. (NASDAQ:NTES) news were published by: Seekingalpha.com which released: “NetEase, Inc 2018 Q2 – Results – Earnings Call Slides” on August 09, 2018, also Fool.com with their article: “Why NetEase, Inc. Stock Has Lost 27% in the First Half of 2018” published on July 17, 2018, Seekingalpha.com published: “NetEase -2.1% as Jefferies trims targets” on August 10, 2018. More interesting news about NetEase, Inc. (NASDAQ:NTES) were released by: Benzinga.com and their article: “68 Stocks Moving In Thursday’s Mid-Day Session” published on August 09, 2018 as well as Finance.Yahoo.com‘s news article titled: “Pinduoduo’s Regulatory Probe Raises Red Flags for NetEase’s Yanxuan” with publication date: August 07, 2018.

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