57,488 Shares in The Manitowoc Company, Inc. $MTW Purchased by Aristeia Capital L.L.C.

Key Points

• Aristeia Capital L.L.C. has acquired 57,488 shares of The Manitowoc Company, Inc. valued at approximately $494,000, representing a 0.16% stake in the company.
• Manitowoc reported a net loss of $0.08 earnings per share for the last quarter, missing analysts' expectations and reflecting a 4.0% decline in revenue compared to the previous year.
• Several analysts have downgraded Manitowoc's stock, with a consensus rating of "Reduce" and a target price averaging $11.00.

Aristeia Capital L.L.C. bought a new position in The Manitowoc Company, Inc. (NYSE:MTW - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 57,488 shares of the industrial products company's stock, valued at approximately $494,000. Aristeia Capital L.L.C. owned 0.16% of Manitowoc at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Manitowoc in the fourth quarter valued at $35,000. GAMMA Investing LLC increased its holdings in shares of Manitowoc by 3,309.6% in the first quarter. GAMMA Investing LLC now owns 12,138 shares of the industrial products company's stock valued at $104,000 after buying an additional 11,782 shares in the last quarter. Brevan Howard Capital Management LP acquired a new stake in Manitowoc during the 4th quarter valued at $115,000. Caxton Associates LLP acquired a new stake in Manitowoc during the 1st quarter valued at $112,000. Finally, Balyasny Asset Management L.P. acquired a new stake in Manitowoc during the 4th quarter valued at $156,000. Institutional investors own 78.66% of the company's stock.

Manitowoc Stock Performance

Shares of NYSE MTW traded down $0.03 during mid-day trading on Friday, hitting $10.22. The company had a trading volume of 378,970 shares, compared to its average volume of 299,473. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.07 and a quick ratio of 0.68. The business's 50-day simple moving average is $11.27 and its 200-day simple moving average is $10.33. The Manitowoc Company, Inc. has a 12 month low of $7.06 and a 12 month high of $13.61. The firm has a market cap of $362.22 million, a P/E ratio of 8.17 and a beta of 2.17.

Manitowoc (NYSE:MTW - Get Free Report) last released its earnings results on Thursday, August 7th. The industrial products company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.12). Manitowoc had a net margin of 2.11% and a negative return on equity of 0.33%. The company had revenue of $539.50 million during the quarter, compared to the consensus estimate of $580.18 million. During the same quarter in the previous year, the business posted $0.25 EPS. The firm's quarterly revenue was down 4.0% on a year-over-year basis. As a group, analysts predict that The Manitowoc Company, Inc. will post 0.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MTW has been the topic of several recent analyst reports. UBS Group boosted their target price on shares of Manitowoc from $9.00 to $11.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Robert W. Baird decreased their price objective on shares of Manitowoc from $11.00 to $10.00 and set a "neutral" rating for the company in a report on Monday, August 11th. Barclays upped their price objective on shares of Manitowoc from $9.00 to $11.00 and gave the stock an "underweight" rating in a report on Monday, July 21st. Finally, Wall Street Zen upgraded shares of Manitowoc from a "sell" rating to a "hold" rating in a report on Tuesday. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $11.00.

About Manitowoc

The Manitowoc Company, Inc provides engineered lifting solutions in the Americas, Europe, Africa, the Middle East, the Asia Pacific, and internationally. It designs, manufactures, and distributes crawler-mounted lattice-boom cranes under the Manitowoc brand; a line of top-slewing and self-erecting tower cranes under the Potain brand; mobile hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand.