Odey Asset Management Group LTD Lowered Rowan Companies Plc (RDC) Stake as Share Value Rose

October 11, 2018 - By Megan Stone

Rowan Companies plc (NYSE:RDC) LogoInvestors sentiment decreased to 1 in 2018 Q2. Its down 0.18, from 1.18 in 2018Q1. It turned negative, as 24 investors sold RDC shares while 61 reduced holdings. 28 funds opened positions while 57 raised stakes. 117.74 million shares or 4.37% less from 123.12 million shares in 2018Q1 were reported. Mason Street Advsrs Limited Liability invested 0.02% in Rowan Companies plc (NYSE:RDC). 2,410 were reported by Clearbridge Limited Liability Company. D E Shaw Co reported 0.01% of its portfolio in Rowan Companies plc (NYSE:RDC). Aqr Cap Management Lc accumulated 2.82M shares or 0.05% of the stock. Fifth Third Retail Bank stated it has 400 shares or 0% of all its holdings. Systematic Financial Mngmt Lp reported 130,580 shares or 0.05% of all its holdings. Assetmark holds 7,545 shares. Odey Asset Group stated it has 19.42% in Rowan Companies plc (NYSE:RDC). Hbk Investments Lp accumulated 188,142 shares. Laurion Limited Partnership reported 137,202 shares. Ameriprise Fincl, a Minnesota-based fund reported 711,278 shares. Bankshares Of Ny Mellon holds 0.01% or 2.13M shares. Numerixs Technology has 0.1% invested in Rowan Companies plc (NYSE:RDC) for 26,914 shares. Teachers Retirement System Of The State Of Kentucky invested in 0% or 20,280 shares. Key Gp Hldg (Cayman) reported 1.49% of its portfolio in Rowan Companies plc (NYSE:RDC).

Since June 20, 2018, it had 0 insider purchases, and 1 sale for $88,020 activity.

Odey Asset Management Group Ltd decreased its stake in Rowan Companies Plc (RDC) by 9.84% based on its latest 2018Q2 regulatory filing with the SEC. Odey Asset Management Group Ltd sold 1.19 million shares as the company’s stock rose 4.80% with the market. The hedge fund held 10.93 million shares of the oil & gas production company at the end of 2018Q2, valued at $177.23M, down from 12.12 million at the end of the previous reported quarter. Odey Asset Management Group Ltd who had been investing in Rowan Companies Plc for a number of months, seems to be less bullish one the $2.43B market cap company. The stock increased 1.91% or $0.36 during the last trading session, reaching $19.16. About 1.87M shares traded. Rowan Companies plc (NYSE:RDC) has risen 50.24% since October 11, 2017 and is uptrending. It has outperformed by 34.62% the S&P500.

Odey Asset Management Group Ltd, which manages about $1.01 billion US Long portfolio, upped its stake in Banco Macro Sa (NYSE:BMA) by 416,232 shares to 465,232 shares, valued at $27.35M in 2018Q2, according to the filing. It also increased its holding in Alphabet Inc by 54,480 shares in the quarter, for a total of 57,043 shares, and has risen its stake in Sprint Corp (NYSE:S).

Analysts await Rowan Companies plc (NYSE:RDC) to report earnings on November, 7. They expect $-1.06 earnings per share, down 562.50 % or $0.90 from last year’s $-0.16 per share. After $-0.60 actual earnings per share reported by Rowan Companies plc for the previous quarter, Wall Street now forecasts 76.67 % negative EPS growth.

More important recent Rowan Companies plc (NYSE:RDC) news were published by: Prnewswire.com which released: “Rowan Completes Previously Announced Sale of Two Jack-ups to ARO Drilling” on October 10, 2018, also Fool.com published article titled: “Why Ensco PLC Stock Zoomed 23% in September”, Seekingalpha.com published: “Rowan Continues The Contract Award Burst” on September 26, 2018. More interesting news about Rowan Companies plc (NYSE:RDC) was released by: Seekingalpha.com and their article: “Rowan Companies: Merger Benefits Ensco, Not Rowan” with publication date: October 09, 2018.

Rowan Companies plc (NYSE:RDC) Ratings Coverage

Among 11 analysts covering Rowan Companies (NYSE:RDC), 6 have Buy rating, 1 Sell and 4 Hold. Therefore 55% are positive. Rowan Companies had 14 analyst reports since April 13, 2018 according to SRatingsIntel. The firm has “Hold” rating by HSBC given on Friday, September 21. The company was maintained on Friday, May 4 by Credit Suisse. Wells Fargo upgraded Rowan Companies plc (NYSE:RDC) on Thursday, May 24 to “Outperform” rating. FBR Capital maintained the shares of RDC in report on Monday, June 11 with “Buy” rating. The firm has “Buy” rating given on Monday, September 10 by Citigroup. The stock of Rowan Companies plc (NYSE:RDC) has “Neutral” rating given on Thursday, May 10 by Bank of America. FBR Capital maintained it with “Buy” rating and $2000 target in Monday, June 18 report. Societe Generale upgraded the stock to “Buy” rating in Friday, August 3 report. Susquehanna maintained Rowan Companies plc (NYSE:RDC) on Friday, April 13 with “Hold” rating. The firm has “Outperform” rating given on Monday, September 24 by Credit Suisse.

Rowan Companies plc (NYSE:RDC) Ratings Chart

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