Kerrisdale Advisers LLC Has Upped Its Stake in Luxoft Hldg INC (LXFT) as Market Valuation Rose

Luxoft Holding, Inc. (NYSE:LXFT) Logo

Kerrisdale Advisers Llc increased its stake in Luxoft Hldg Inc (LXFT) by 34.04% based on its latest 2018Q2 regulatory filing with the SEC. Kerrisdale Advisers Llc bought 249,879 shares as the company’s stock rose 29.38% with the market. The hedge fund held 983,935 shares of the technology company at the end of 2018Q2, valued at $36.26 million, up from 734,056 at the end of the previous reported quarter. Kerrisdale Advisers Llc who had been investing in Luxoft Hldg Inc for a number of months, seems to be bullish on the $1.11 billion market cap company. The stock increased 1.69% or $0.55 during the last trading session, reaching $33.03. About 235,658 shares traded or 23.14% up from the average. Luxoft Holding, Inc. (NYSE:LXFT) has declined 3.30% since December 8, 2017 and is downtrending. It has underperformed by 18.92% the S&P500.

Kerrisdale Advisers Llc, which manages about $371.12 million and $240.70M US Long portfolio, decreased its stake in Momo Inc by 658,016 shares to 31,319 shares, valued at $1.36 million in 2018Q2, according to the filing.

More notable recent Luxoft Holding, Inc. (NYSE:LXFT) news were published by: Seekingalpha.com which released: “Can Luxoft Holding Fight The Headwinds? – Seeking Alpha” on June 14, 2018, also Seekingalpha.com with their article: “Luxoft Shares Oversold, Provide Good Return Potential – Seeking Alpha” published on November 30, 2018, Benzinga.com published: “Benzinga’s Top Upgrades, Downgrades For November 16, 2018 – Benzinga” on November 16, 2018. More interesting news about Luxoft Holding, Inc. (NYSE:LXFT) were released by: Streetinsider.com and their article: “Luxoft Holding (LXFT) Buys Objective Software GmbH – StreetInsider.com” published on August 07, 2018 as well as Benzinga.com‘s news article titled: “This Analyst Let Go Of Luxoft (NYSE:LXFT) Misgivings And Issued An Upgrade – Benzinga” with publication date: December 05, 2017.

Luxoft Holding, Inc. (NYSE:LXFT) Ratings Coverage

Among 5 analysts covering Luxoft Holding (NYSE:LXFT), 3 have Buy rating, 1 Sell and 1 Hold. Therefore 60% are positive. Luxoft Holding had 7 analyst reports since August 16, 2018 according to SRatingsIntel. The stock has “Overweight” rating by KeyBanc Capital Markets on Friday, September 7. KeyBanc Capital Markets maintained Luxoft Holding, Inc. (NYSE:LXFT) rating on Tuesday, November 13. KeyBanc Capital Markets has “Overweight” rating and $52 target. Cantor Fitzgerald maintained Luxoft Holding, Inc. (NYSE:LXFT) on Wednesday, September 5 with “Overweight” rating. The rating was maintained by KeyBanc Capital Markets on Thursday, August 16 with “Overweight”. The firm has “Neutral” rating by Credit Suisse given on Thursday, September 20. The firm has “Underweight” rating by JP Morgan given on Thursday, November 15. The firm has “Buy” rating given on Friday, November 16 by VTB Capital.

Luxoft Holding, Inc. (NYSE:LXFT) Ratings Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.