BTG Pactual Asset Management US LLC Boosts Stake in CMB.TECH nv $CMBT

Key Points

• BTG Pactual Asset Management US LLC increased its CMB.TECH stake by 528.9% in the second quarter, purchasing 470,726 additional shares to hold 559,729 shares worth approximately $7.8 million.
• CMB.TECH reported quarterly EPS of $1.26, beating the $0.88 consensus estimate, while revenue of $703.94 million exceeded expectations of $574.37 million.
• The stock recently opened at $18.34, near its 52-week high of $18.85, and analysts maintain an overall “Buy” rating, including two Strong Buy ratings and one Hold.

BTG Pactual Asset Management US LLC boosted its position in shares of CMB.TECH nv (NYSE:CMBT - Free Report) by 528.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 559,729 shares of the company's stock after buying an additional 470,726 shares during the period. BTG Pactual Asset Management US LLC owned approximately 0.28% of CMB.TECH worth $7,831,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Valley Wealth Managers Inc. purchased a new stake in shares of CMB.TECH during the 1st quarter worth approximately $33,000. Mcguire Capital Advisors Inc. purchased a new position in shares of CMB.TECH in the fourth quarter valued at $26,000. Raymond James Financial Inc. purchased a new position in shares of CMB.TECH in the second quarter valued at $27,000. Caitong International Asset Management Co. Ltd bought a new position in CMB.TECH during the fourth quarter valued at $29,000. Finally, Public Employees Retirement System of Ohio bought a new position in CMB.TECH during the third quarter valued at $45,000.

CMB.TECH Stock Performance

CMB.TECH stock opened at $18.34 on Monday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.85 and a current ratio of 0.95. The company has a market capitalization of $3.66 billion, a PE ratio of 6.30 and a beta of 0.11. The company has a 50 day moving average price of $15.99 and a 200-day moving average price of $14.65. CMB.TECH nv has a fifty-two week low of $8.34 and a fifty-two week high of $18.85.

CMB.TECH (NYSE:CMBT - Get Free Report) last released its quarterly earnings data on Thursday, August 27th. The company reported $1.26 EPS for the quarter, topping the consensus estimate of $0.88 by $0.38. The company had revenue of $703.94 million for the quarter, compared to the consensus estimate of $574.37 million. CMB.TECH had a return on equity of 31.18% and a net margin of 37.19%.

Wall Street Analyst Weigh In

CMBT has been the subject of a number of analyst reports. Wall Street Zen raised shares of CMB.TECH from a "hold" rating to a "buy" rating in a report on Saturday, May 30th. Weiss Ratings restated a "hold (c+)" rating on shares of CMB.TECH in a report on Tuesday, August 25th. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy".

CMB.TECH Company Profile

Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil worldwide. The company offers floating, storage, and offloading (FSO) services. It also owns and operates a fleet of vessels. The company was incorporated in 2003 and is headquartered in Antwerp, Belgium. As of March 15, 2024, Euronav NV operates as subsidiary of CMB NV.

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