Cubist Systematic Strategies LLC Acquires New Stake in Vodafone Group PLC $VOD

Key Points

• Cubist Systematic Strategies LLC has acquired 797,264 shares of Vodafone Group PLC, valued at approximately $7.47 million, marking a significant new investment in the telecommunications company.
• Several hedge funds, including ACR Alpine Capital and Oppenheimer Asset Management, have increased their stakes in Vodafone, indicating growing institutional interest in the company.
• Vodafone's stock has recently received mixed ratings from analysts, with consensus indicating a "Reduce" rating and a target price of $136.00.

Cubist Systematic Strategies LLC bought a new position in Vodafone Group PLC (NASDAQ:VOD - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 797,264 shares of the cell phone carrier's stock, valued at approximately $7,470,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Royal Bank of Canada grew its position in Vodafone Group by 5.4% during the 1st quarter. Royal Bank of Canada now owns 3,117,008 shares of the cell phone carrier's stock worth $29,207,000 after acquiring an additional 159,985 shares during the last quarter. Graham Capital Management L.P. grew its position in Vodafone Group by 190.4% during the 1st quarter. Graham Capital Management L.P. now owns 218,219 shares of the cell phone carrier's stock worth $2,045,000 after acquiring an additional 143,073 shares during the last quarter. OLD Mission Capital LLC grew its position in Vodafone Group by 24.3% during the 1st quarter. OLD Mission Capital LLC now owns 259,086 shares of the cell phone carrier's stock worth $2,428,000 after acquiring an additional 50,603 shares during the last quarter. Gamco Investors INC. ET AL grew its position in Vodafone Group by 2.2% during the 1st quarter. Gamco Investors INC. ET AL now owns 1,048,723 shares of the cell phone carrier's stock worth $9,827,000 after acquiring an additional 22,900 shares during the last quarter. Finally, Gabelli Funds LLC grew its position in Vodafone Group by 2.0% during the 1st quarter. Gabelli Funds LLC now owns 961,800 shares of the cell phone carrier's stock worth $9,012,000 after acquiring an additional 18,500 shares during the last quarter. 7.84% of the stock is currently owned by institutional investors.

Vodafone Group Stock Up 0.5%

Shares of VOD traded up $0.06 on Friday, reaching $11.81. The stock had a trading volume of 2,882,394 shares, compared to its average volume of 4,595,996. The firm has a market capitalization of $28.70 billion, a price-to-earnings ratio of 10.36, a price-to-earnings-growth ratio of 0.56 and a beta of 0.65. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.23 and a current ratio of 1.26. The company has a 50-day simple moving average of $11.33 and a 200-day simple moving average of $10.14. Vodafone Group PLC has a 12-month low of $8.00 and a 12-month high of $12.06.

Analysts Set New Price Targets

VOD has been the topic of several recent research reports. Morgan Stanley initiated coverage on Vodafone Group in a research report on Wednesday, July 2nd. They set an "equal weight" rating on the stock. The Goldman Sachs Group cut Vodafone Group from a "neutral" rating to a "sell" rating and set a $136.00 price objective for the company. in a report on Thursday, July 31st. Wall Street Zen cut Vodafone Group from a "buy" rating to a "hold" rating in a report on Tuesday, May 27th. Zacks Research upgraded Vodafone Group to a "hold" rating in a report on Tuesday, August 12th. Finally, Berenberg Bank upgraded Vodafone Group to a "hold" rating in a report on Thursday, June 26th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Vodafone Group currently has an average rating of "Reduce" and an average price target of $136.00.

Vodafone Group Profile

Vodafone Group Public Limited Company provides telecommunication services in Europe and internationally. It offers mobile connectivity services comprising end-to-end services for mobile voice and data, messaging, device management, BYOx, and telecoms management, as well as professional and consulting services; and fixed line connectivity, such as fixed voice and data, broadband, software-defined networks, managed WAN, LAN, ethernet, and satellite; and financial services, as well as business and merchant services.