Alyeska Investment Group L.P. Boosts Stock Position in Contango ORE, Inc. $CTGO

Key Points

• Alyeska Investment Group increased its Contango ORE position by 54.4% in the second quarter, adding 750,000 shares to own 2.13 million shares, or approximately 6.57% of the company. Institutional investors collectively hold 19.14% of the stock.
• Contango ORE insiders made mixed moves: CEO Rick Van Nieuwenhuyse bought 4,111 shares, while CFO Michael Aaron Clark sold 1,289 shares. Corporate insiders own approximately 5.40% of the company.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $33.50. The company reported quarterly EPS of $0.14, beating the consensus estimate of a $0.04 loss, while CTGO recently traded at $19.27.

Alyeska Investment Group L.P. lifted its holdings in shares of Contango ORE, Inc. (NYSEAMERICAN:CTGO - Free Report) by 54.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,127,579 shares of the company's stock after buying an additional 750,000 shares during the quarter. Alyeska Investment Group L.P. owned approximately 6.57% of Contango ORE worth $33,594,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Deutsche Bank AG increased its holdings in Contango ORE by 4.3% in the 4th quarter. Deutsche Bank AG now owns 10,104 shares of the company's stock worth $267,000 after acquiring an additional 417 shares in the last quarter. Bridgeway Capital Management LLC boosted its stake in shares of Contango ORE by 4.7% in the fourth quarter. Bridgeway Capital Management LLC now owns 22,400 shares of the company's stock worth $592,000 after acquiring an additional 1,000 shares during the last quarter. Strs Ohio acquired a new stake in shares of Contango ORE in the fourth quarter worth approximately $29,000. Russell Investments Group Ltd. increased its position in shares of Contango ORE by 129.9% during the third quarter. Russell Investments Group Ltd. now owns 2,320 shares of the company's stock worth $58,000 after purchasing an additional 1,311 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in Contango ORE by 141.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,264 shares of the company's stock valued at $44,000 after purchasing an additional 1,327 shares in the last quarter. Hedge funds and other institutional investors own 19.14% of the company's stock.

Insider Activity at Contango ORE

In related news, CEO Nieuwenhuyse Rick Van bought 4,111 shares of the company's stock in a transaction that occurred on Thursday, June 25th. The stock was purchased at an average price of $15.24 per share, for a total transaction of $62,651.64. Following the acquisition, the chief executive officer owned 555,251 shares of the company's stock, valued at approximately $8,462,025.24. This trade represents a 0.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Michael Aaron Clark sold 1,289 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $20.94, for a total value of $26,991.66. Following the completion of the sale, the chief financial officer directly owned 54,709 shares in the company, valued at approximately $1,145,606.46. The trade was a 2.30% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 5.40% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised Contango ORE to a "hold" rating in a research note on Wednesday, May 20th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Contango ORE presently has a consensus rating of "Moderate Buy" and an average price target of $33.50.

Contango ORE Price Performance

CTGO stock opened at $19.27 on Monday. Contango ORE, Inc. has a 52-week low of $14.50 and a 52-week high of $34.38. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.06. The stock has a market cap of $645.54 million, a price-to-earnings ratio of -6.55 and a beta of -0.01. The business has a fifty day moving average of $17.41 and a two-hundred day moving average of $20.63.

Contango ORE (NYSEAMERICAN:CTGO - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.18. As a group, research analysts anticipate that Contango ORE, Inc. will post 0.4 earnings per share for the current year.

Contango ORE Profile

Contango ORE Royalty Trust (NYSE American: CTGO) is a grantor royalty trust that holds net overriding royalty interests in oil and gas properties. As a non‐operating entity, the trust itself does not engage in exploration, drilling or production activities but instead receives a percentage of revenues generated by producing wells. This structure offers investors exposure to commodity price movements and production volumes without the direct capital expenditure or operational risks associated with upstream oil and gas companies.

The trust's assets consist primarily of royalty interests in offshore leases located on the continental shelf of the Gulf of Mexico.

Want to see what other hedge funds are holding CTGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Contango ORE, Inc. (NYSEAMERICAN:CTGO - Free Report).

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