Absolute Gestao de Investimentos Ltda. Decreases Stake in Pampa Energia S.A. $PAM

Key Points

• Absolute Gestao de Investimentos reduced its Pampa Energia stake by 22.6% in the second quarter, selling 64,811 shares and retaining 222,572 shares worth approximately $18.28 million.
• Insider activity was positive: Director Marcos Mindlin bought 500,000 shares, while insiders purchased 3.36 million shares worth $11.31 million over the past 90 days.
• Analyst sentiment remains cautious, with Pampa Energia carrying a consensus “Hold” rating and a $105 target price; the stock recently traded near $84.74.

Absolute Gestao de Investimentos Ltda. cut its holdings in shares of Pampa Energia S.A. (NYSE:PAM - Free Report) by 22.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 222,572 shares of the utilities provider's stock after selling 64,811 shares during the period. Pampa Energia comprises about 1.8% of Absolute Gestao de Investimentos Ltda.'s investment portfolio, making the stock its 11th biggest holding. Absolute Gestao de Investimentos Ltda. owned approximately 0.41% of Pampa Energia worth $18,280,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PAM. Raymond James Financial Inc. purchased a new position in Pampa Energia in the second quarter valued at about $37,000. NFJ Investment Group LLC acquired a new stake in Pampa Energia in the fourth quarter valued at $104,000. Van ECK Associates Corp acquired a new stake in Pampa Energia in the third quarter valued at $139,000. Arete Wealth Advisors LLC bought a new position in Pampa Energia during the 4th quarter valued at $212,000. Finally, DGS Capital Management LLC bought a new position in Pampa Energia during the 4th quarter valued at $234,000. 12.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Pampa Energia news, Director Marcos Mindlin purchased 500,000 shares of Pampa Energia stock in a transaction on Monday, August 31st. The stock was bought at an average price of $3.44 per share, for a total transaction of $1,720,000.00. Following the transaction, the director owned 22,680,592 shares of the company's stock, valued at $78,021,236.48. The trade was a 2.25% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders purchased 3,360,619 shares of company stock valued at $11,311,974. 55.52% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Pampa Energia from $101.50 to $105.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 1st. Wall Street Zen cut shares of Pampa Energia from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 23rd. Zacks Research downgraded Pampa Energia from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Pampa Energia in a research note on Friday, June 12th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $105.00.

Pampa Energia Trading Down 0.1%

Shares of NYSE:PAM opened at $84.74 on Monday. The company has a market cap of $4.55 billion, a PE ratio of 8.05, a P/E/G ratio of 0.28 and a beta of 0.93. The company's 50-day moving average price is $82.86 and its 200 day moving average price is $82.96. Pampa Energia S.A. has a fifty-two week low of $54.95 and a fifty-two week high of $94.50. The company has a quick ratio of 3.23, a current ratio of 3.64 and a debt-to-equity ratio of 0.64.

Pampa Energia (NYSE:PAM - Get Free Report) last posted its earnings results on Tuesday, June 30th. The utilities provider reported $2.50 EPS for the quarter. The firm had revenue of $746.00 million during the quarter. Pampa Energia had a net margin of 23.58% and a return on equity of 15.33%. Sell-side analysts anticipate that Pampa Energia S.A. will post 10.66 earnings per share for the current year.

About Pampa Energia

Pampa Energía SA is Argentina's largest independent energy company, with integrated operations spanning electricity generation, transmission, distribution and oil and gas activities. The company holds a diversified portfolio of thermal and hydroelectric power plants, along with growing investments in renewable energy projects, serving both domestic and regional markets.

In its electricity business, Pampa Energía develops and operates plants that supply energy to Argentina's power grid.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.