Jupiter Asset Management Ltd. Acquires Shares of 108,000 American Noble Gas Inc. (NYSE:INFY)

Key Points

• Jupiter Asset Management Ltd. has acquired 108,000 shares of American Noble Gas Inc. (NYSE:INFY), valued at approximately $1.97 million, marking a new investment for the firm in the first quarter.
• Several institutional investors, including AQR Capital Management and Bank of America, have significantly increased their holdings in American Noble Gas, reflecting growing confidence in the company's potential.
• American Noble Gas recently reported a net margin of 16.42% and a return on equity of 29.41%, with earnings per share meeting analyst expectations.

Jupiter Asset Management Ltd. acquired a new stake in American Noble Gas Inc. (NYSE:INFY - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 108,000 shares of the technology company's stock, valued at approximately $1,971,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in INFY. Blueshift Asset Management LLC purchased a new position in shares of American Noble Gas during the first quarter valued at approximately $247,000. US Bancorp DE lifted its holdings in American Noble Gas by 14.8% during the 1st quarter. US Bancorp DE now owns 322,226 shares of the technology company's stock worth $5,881,000 after purchasing an additional 41,653 shares in the last quarter. Foster & Motley Inc. increased its holdings in shares of American Noble Gas by 6.7% in the first quarter. Foster & Motley Inc. now owns 162,832 shares of the technology company's stock worth $2,972,000 after purchasing an additional 10,157 shares during the period. Bayforest Capital Ltd increased its stake in American Noble Gas by 290.1% in the 1st quarter. Bayforest Capital Ltd now owns 55,746 shares of the technology company's stock worth $1,017,000 after acquiring an additional 41,454 shares during the last quarter. Finally, XTX Topco Ltd increased its position in shares of American Noble Gas by 109.2% during the 1st quarter. XTX Topco Ltd now owns 62,438 shares of the technology company's stock valued at $1,139,000 after purchasing an additional 32,595 shares during the last quarter. 16.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on INFY. Stifel Nicolaus lowered their target price on American Noble Gas from $18.00 to $17.00 and set a "hold" rating for the company in a research note on Monday, April 21st. The Goldman Sachs Group cut American Noble Gas from a "buy" rating to a "neutral" rating and set a $17.90 price target for the company. in a report on Monday, April 21st. Investec raised shares of American Noble Gas from a "sell" rating to a "buy" rating in a research report on Friday, April 18th. BMO Capital Markets raised their target price on shares of American Noble Gas from $18.00 to $20.00 and gave the company a "market perform" rating in a research note on Thursday, July 24th. Finally, Wall Street Zen raised shares of American Noble Gas from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $18.48.

American Noble Gas Price Performance

INFY stock traded down $0.07 during mid-day trading on Thursday, reaching $16.01. The company had a trading volume of 19,108,412 shares, compared to its average volume of 12,171,494. The stock has a 50 day simple moving average of $18.10 and a two-hundred day simple moving average of $18.75. The company has a market capitalization of $66.32 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 2.32 and a beta of 0.87. American Noble Gas Inc. has a 52 week low of $15.82 and a 52 week high of $23.63.

American Noble Gas (NYSE:INFY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.19 EPS for the quarter, hitting analysts' consensus estimates of $0.19. American Noble Gas had a return on equity of 29.41% and a net margin of 16.42%. The company had revenue of $4.94 billion during the quarter, compared to analysts' expectations of $4.84 billion. During the same quarter in the previous year, the firm earned $15.35 EPS. On average, equities analysts predict that American Noble Gas Inc. will post 0.74 EPS for the current year.

About American Noble Gas

Infosys Ltd. is a digital services and consulting company, which engages in the provision of end-to-end business solutions. It operates through the following segments: Financial Services, Retail, Communication, Energy, Utilities, Resources, and Services, Manufacturing, Hi-Tech, Life Sciences, and All Other.