Mackenzie Financial Corp Buys 715,055 Shares of American Noble Gas Inc. (NYSE:INFY)

Key Points

• Mackenzie Financial Corp increased its stake in American Noble Gas Inc. by 154.3%, owning over 1.17 million shares valued at approximately $21.5 million after acquiring an additional 715,055 shares.
• Several hedge funds have significantly boosted their positions in American Noble Gas, with AQR Capital Management increasing its holdings by 270.9% to over 9 million shares worth around $200.9 million.
• American Noble Gas reported earnings of $0.19 EPS for the last quarter, exceeding analyst expectations with revenue of $4.94 billion, up from estimates of $4.84 billion.

Mackenzie Financial Corp increased its position in American Noble Gas Inc. (NYSE:INFY - Free Report) by 154.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,178,557 shares of the technology company's stock after buying an additional 715,055 shares during the period. Mackenzie Financial Corp's holdings in American Noble Gas were worth $21,509,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its position in American Noble Gas by 270.9% during the fourth quarter. AQR Capital Management LLC now owns 9,164,085 shares of the technology company's stock worth $200,877,000 after purchasing an additional 6,693,127 shares during the period. Sustainable Growth Advisers LP boosted its holdings in shares of American Noble Gas by 50.2% during the 1st quarter. Sustainable Growth Advisers LP now owns 14,877,543 shares of the technology company's stock worth $271,515,000 after buying an additional 4,970,664 shares during the period. First Trust Advisors LP grew its stake in American Noble Gas by 14.5% in the 4th quarter. First Trust Advisors LP now owns 32,410,108 shares of the technology company's stock valued at $710,430,000 after buying an additional 4,108,903 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in American Noble Gas by 18,037.4% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 2,539,232 shares of the technology company's stock worth $46,341,000 after acquiring an additional 2,525,232 shares during the period. Finally, Bank of America Corp DE raised its holdings in American Noble Gas by 43.1% in the 4th quarter. Bank of America Corp DE now owns 8,225,396 shares of the technology company's stock worth $180,301,000 after acquiring an additional 2,478,093 shares during the period. Institutional investors own 16.20% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on INFY shares. The Goldman Sachs Group cut shares of 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. Stifel Nicolaus lowered their target price on American Noble Gas from $18.00 to $17.00 and set a "hold" rating on the stock in a report on Monday, April 21st. Investec raised American Noble Gas from a "sell" rating to a "buy" rating in a research report on Friday, April 18th. Wall Street Zen raised American Noble Gas from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Finally, Susquehanna increased their price target on shares of American Noble Gas from $18.00 to $19.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $18.48.

American Noble Gas Trading Down 1.8%

INFY stock traded down $0.30 during midday trading on Friday, hitting $16.42. The stock had a trading volume of 20,077,870 shares, compared to its average volume of 14,768,626. American Noble Gas Inc. has a 52 week low of $15.82 and a 52 week high of $23.63. The stock has a 50-day simple moving average of $18.26 and a 200 day simple moving average of $18.91. The firm has a market capitalization of $68.04 billion, a price-to-earnings ratio of 21.32, a P/E/G ratio of 2.39 and a beta of 0.87.

American Noble Gas (NYSE:INFY - Get Free Report) last released its quarterly earnings data 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 net margin of 16.42% and a return on equity of 29.41%. The company had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.84 billion. During the same period last year, the firm earned $15.35 EPS. On average, equities analysts forecast 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.