Arrowstreet Capital Limited Partnership Sells 652,811 Shares of Comp En De Mn Cemig ADS $CIG

Key Points

• Arrowstreet Capital cut its Cemig ADS stake by 79% in the first quarter, selling 652,811 shares and retaining 173,082 shares valued at approximately $414,000.
• Institutional activity was mixed: Sei Investments and Allspring increased their positions, while Dimensional Fund Advisors made a smaller addition; several other firms initiated new stakes.
• Weiss Ratings downgraded CIG from “buy” to “hold,” matching the current analyst consensus. The stock opened at $2.10, down 1.6%, with a market capitalization of about $6.02 billion.

Arrowstreet Capital Limited Partnership reduced its stake in shares of Comp En De Mn Cemig ADS (NYSE:CIG - Free Report) by 79.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 173,082 shares of the utilities provider's stock after selling 652,811 shares during the quarter. Arrowstreet Capital Limited Partnership's holdings in Comp En De Mn Cemig ADS were worth $414,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CIG. Sei Investments Co. increased its position in shares of Comp En De Mn Cemig ADS by 17.6% during the first quarter. Sei Investments Co. now owns 243,535 shares of the utilities provider's stock valued at $582,000 after buying an additional 36,514 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Comp En De Mn Cemig ADS by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,087,768 shares of the utilities provider's stock worth $2,600,000 after acquiring an additional 8,805 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Comp En De Mn Cemig ADS by 61.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,445 shares of the utilities provider's stock valued at $43,000 after purchasing an additional 6,652 shares during the period. Advisors Preferred LLC bought a new stake in shares of Comp En De Mn Cemig ADS during the first quarter valued at approximately $708,000. Finally, Sanctuary Advisors LLC bought a new position in Comp En De Mn Cemig ADS in the first quarter worth $73,000.

Analyst Ratings Changes

Separately, Weiss Ratings cut Comp En De Mn Cemig ADS from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold".

Comp En De Mn Cemig ADS Trading Down 1.6%

CIG opened at $2.10 on Friday. The stock has a 50-day moving average of $2.12 and a 200 day moving average of $2.26. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. Comp En De Mn Cemig ADS has a 12 month low of $1.88 and a 12 month high of $2.76. The firm has a market cap of $6.02 billion, a P/E ratio of 11.08 and a beta of 0.78.

About Comp En De Mn Cemig ADS

Companhia Energética de Minas Gerais SA (Cemig ADS) is a leading Brazilian energy company primarily engaged in the generation, transmission, distribution and commercialization of electric power. Headquartered in Belo Horizonte, the company operates as a vertically integrated utility, serving residential, commercial and industrial customers across its concession areas. In addition to its core electricity business, Cemig maintains interests in natural gas distribution and distinct energy-related ventures, including renewable sources and infrastructure projects.

In its generation segment, Cemig manages a diversified portfolio that includes hydroelectric, photovoltaic and wind power plants.

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