American Noble Gas Inc. (NYSE:INFY) Shares Sold by Baillie Gifford & Co.

Key Points

• Baillie Gifford & Co. reduced its holdings in American Noble Gas Inc. by 0.7%, owning approximately 2.886 million shares worth $52.67 million at the end of the first quarter.
• Other institutional investors, like Kovitz Investment Group and Pinnacle Bancorp, have increased their stakes in American Noble Gas, reflecting varied investment strategies among hedge funds.
• American Noble Gas's quarterly earnings met analyst estimates, reporting an earnings per share of $0.19 and a revenue of $4.94 billion, exceeding earlier projections.

Baillie Gifford & Co. decreased its position in American Noble Gas Inc. (NYSE:INFY - Free Report) by 0.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,886,016 shares of the technology company's stock after selling 21,644 shares during the quarter. Baillie Gifford & Co. owned approximately 0.07% of American Noble Gas worth $52,670,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Fullerton Fund Management Co Ltd. bought a new position in shares of American Noble Gas in the fourth quarter worth about $4,465,000. Handelsbanken Fonder AB raised its stake in shares of American Noble Gas by 46.2% in the first quarter. Handelsbanken Fonder AB now owns 131,592 shares of the technology company's stock worth $2,402,000 after buying an additional 41,592 shares during the period. Union Bancaire Privee UBP SA raised its stake in shares of American Noble Gas by 224.5% in the first quarter. Union Bancaire Privee UBP SA now owns 77,518 shares of the technology company's stock worth $1,344,000 after buying an additional 53,628 shares during the period. Principal Financial Group Inc. raised its stake in shares of American Noble Gas by 272.8% in the first quarter. Principal Financial Group Inc. now owns 152,443 shares of the technology company's stock worth $2,782,000 after buying an additional 111,553 shares during the period. Finally, Captrust Financial Advisors raised its stake in shares of American Noble Gas by 5.5% in the fourth quarter. Captrust Financial Advisors now owns 22,915 shares of the technology company's stock worth $502,000 after buying an additional 1,197 shares during the period. Institutional investors own 16.20% of the company's stock.

American Noble Gas Price Performance

INFY stock traded down $0.20 during mid-day trading on Wednesday, reaching $17.02. 3,571,400 shares of the company's stock were exchanged, compared to its average volume of 11,861,372. The company has a market cap of $70.50 billion, a price-to-earnings ratio of 22.10, a price-to-earnings-growth ratio of 2.46 and a beta of 0.97. The stock's 50 day moving average is $18.31 and its 200 day moving average is $18.96. American Noble Gas Inc. has a 12-month low of $15.82 and a 12-month high of $23.63.

American Noble Gas (NYSE:INFY - Get Free Report) last released its earnings results on Wednesday, July 23rd. The technology company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.19. The firm had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.84 billion. American Noble Gas had a return on equity of 29.41% and a net margin of 16.42%. During the same period last year, the business posted $15.35 earnings per share. On average, research analysts forecast that American Noble Gas Inc. will post 0.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on INFY. The Goldman Sachs Group downgraded American Noble Gas from a "buy" rating to a "neutral" rating and set a $17.90 price objective on the stock. in a research note on Monday, April 21st. BMO Capital Markets lifted their target price on American Noble Gas from $18.00 to $20.00 and gave the company a "market perform" rating in a research note on Thursday, July 24th. Wall Street Zen raised American Noble Gas from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Investec upgraded American Noble Gas from a "sell" rating to a "buy" rating in a report on Friday, April 18th. Finally, Stifel Nicolaus dropped their price objective on American Noble Gas from $18.00 to $17.00 and set a "hold" rating for the company in a report on Monday, April 21st. Five equities research 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus 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.