Mackenzie Financial Corp Raises Stock Holdings in 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 raised its stake in American Noble Gas Inc. (NYSE:INFY - Free Report) by 154.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,178,557 shares of the technology company's stock after acquiring an additional 715,055 shares during the quarter. Mackenzie Financial Corp's holdings in American Noble Gas were worth $21,509,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in INFY. First Trust Advisors LP increased its stake in shares of American Noble Gas by 14.5% during 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 acquiring an additional 4,108,903 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of American Noble Gas by 6.6% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 27,541,684 shares of the technology company's stock valued at $502,636,000 after acquiring an additional 1,700,662 shares during the last quarter. Sustainable Growth Advisers LP increased its stake 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 valued at $271,515,000 after acquiring an additional 4,970,664 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of American Noble Gas by 2.0% during the 4th quarter. Franklin Resources Inc. now owns 11,501,533 shares of the technology company's stock valued at $252,114,000 after acquiring an additional 229,482 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of American Noble Gas by 270.9% during the 4th quarter. AQR Capital Management LLC now owns 9,164,085 shares of the technology company's stock valued at $200,877,000 after acquiring an additional 6,693,127 shares during the last quarter. 16.20% of the stock is owned by institutional investors and hedge funds.

American Noble Gas Stock Down 1.8%

Shares of NYSE INFY traded down $0.30 on Friday, hitting $16.42. The company had a trading volume of 20,077,870 shares, compared to its average volume of 14,768,626. American Noble Gas Inc. has a 12-month low of $15.82 and a 12-month high of $23.63. The business has a 50 day moving average of $18.23 and a two-hundred day moving average of $18.84. The firm has a market capitalization of $68.04 billion, a P/E ratio of 21.32, a PEG ratio of 2.35 and a beta of 0.87.

American Noble Gas (NYSE:INFY - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The technology company reported $0.19 earnings per share for the quarter, hitting the consensus estimate 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 the consensus estimate of $4.84 billion. During the same quarter in the prior year, the business earned $15.35 earnings per share. On average, sell-side analysts anticipate that American Noble Gas Inc. will post 0.74 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Susquehanna upped their price objective on shares of American Noble Gas from $18.00 to $19.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Stifel Nicolaus dropped their price target 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 lowered American Noble Gas from a "buy" rating to a "neutral" rating and set a $17.90 price target for the company. in a research note on Monday, April 21st. Wall Street Zen upgraded American Noble Gas from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Finally, Investec upgraded American Noble Gas from a "sell" rating to a "buy" rating in a research note on Friday, April 18th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $18.48.

American Noble Gas Company Profile

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.