Kapitalo Investimentos Ltda Buys 1,465,887 Shares of Braskem S.A. (NYSE:BAK)

Key Points

• Kapitalo Investimentos Ltda significantly increased its stake in Braskem S.A. by 1,136,346.5% during the 1st quarter, owning approximately 1.1% of the company.
• Several other hedge funds, including Covalis Capital LLP and Bank of America Corp DE, also boosted their positions in Braskem during the fourth quarter, indicating growing institutional interest.
• Braskem's stock recently traded at $3.30, with earnings surpassing expectations, reporting $0.30 EPS against a consensus estimate of $0.03.

Kapitalo Investimentos Ltda grew its position in Braskem S.A. (NYSE:BAK - Free Report) by 1,136,346.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,466,016 shares of the company's stock after purchasing an additional 1,465,887 shares during the period. Braskem makes up approximately 1.1% of Kapitalo Investimentos Ltda's holdings, making the stock its 20th biggest position. Kapitalo Investimentos Ltda owned 0.37% of Braskem worth $5,644,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ballentine Partners LLC bought a new position in shares of Braskem in the first quarter valued at approximately $58,000. GAMMA Investing LLC boosted its holdings in shares of Braskem by 654.9% in the first quarter. GAMMA Investing LLC now owns 19,824 shares of the company's stock valued at $76,000 after acquiring an additional 17,198 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Braskem in the fourth quarter valued at approximately $164,000. Point72 Asset Management L.P. boosted its holdings in shares of Braskem by 2.3% in the fourth quarter. Point72 Asset Management L.P. now owns 180,900 shares of the company's stock valued at $698,000 after acquiring an additional 4,100 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of Braskem by 55.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 46,445 shares of the company's stock valued at $179,000 after acquiring an additional 16,545 shares in the last quarter.

Braskem Trading Down 1.4%

BAK stock traded down $0.05 on Wednesday, hitting $3.23. 294,603 shares of the company's stock traded hands, compared to its average volume of 912,399. Braskem S.A. has a 1-year low of $2.85 and a 1-year high of $7.71. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -0.77 and a beta of 1.69. The stock has a fifty day moving average of $3.52 and a 200-day moving average of $3.80.

Braskem (NYSE:BAK - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.03 by $0.27. The firm had revenue of $3.60 billion during the quarter, compared to analysts' expectations of $22.86 billion. On average, equities research analysts anticipate that Braskem S.A. will post -0.77 earnings per share for the current fiscal year.

Braskem Company Profile

Braskem SA, together with its subsidiaries, produces and sells thermoplastic resins. The company operates through three segments: Brazil, United States and Europe, and Mexico. The Brazil segment produces and sells olefins, including ethylene, polymer and chemical grade propylene, butadiene, and butene-1; benzene, toluene, and xylenes products; fuels, such as automotive gasoline, liquefied petroleum gas, ethyl tertiary-butyl ether, and methyl tertiary-butyl ether; intermediates, such as cumene; aliphatics, aromatics, and hydrogenated solvents; and specialties comprising isoprene, dicyclopentadiene, piperylene, nonene, tetramer, polyisobutylene, and hydrocarbon resins.