Central Securities (NYSEAMERICAN:CET) Sets New 1-Year High - Still a Buy?

Key Points

• Central Securities (CET) reached a new 52‑week high of $53.00 intraday and was last trading at $52.72, modestly above its 50‑day ($51.09) and 200‑day ($51.01) moving averages.
• Several hedge funds and institutions recently initiated small positions in CET, but overall institutional ownership remains low at approximately 8.68%.
• Central Securities is a publicly owned investment manager (founded 1929) that invests in U.S. public equities and a range of fixed‑income and convertible securities.

Central Securities Corporation (NYSEAMERICAN:CET - ) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $53.00 and last traded at $52.72, with a volume of 1219 shares changing hands. The stock had previously closed at $52.74.

Central Securities Trading Down 0.2%

The stock has a fifty day moving average of $51.09 and a 200-day moving average of $51.01.

Hedge Funds Weigh In On Central Securities

Large investors have recently bought and sold shares of the business. Assetmark Inc. purchased a new position in Central Securities during the 4th quarter valued at $35,000. Bank of America Corp DE purchased a new position in Central Securities during the 2nd quarter valued at $64,000. Noble Wealth Management PBC purchased a new position in Central Securities during the 4th quarter valued at $73,000. Vista Investment Partners II LLC purchased a new position in Central Securities during the 3rd quarter valued at $203,000. Finally, Level Four Advisory Services LLC purchased a new position in Central Securities during the 3rd quarter valued at $212,000. Hedge funds and other institutional investors own 8.68% of the company's stock.

About Central Securities

Central Securities Corp. is a publicly owned investment manager. The firm invests in the public equity markets of the United States. It also invests on bonds, convertible bonds, preferred stocks, convertible preferred stocks, warrants, options real estate, or short-term obligations of governments, banks and corporations. Central Securities Corp. was founded on October 1, 1929 and is based in New York City.

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