Connor Clark & Lunn Investment Management Ltd. Invests $1.12 Million in Vodafone Group PLC $VOD

Key Points

• Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Vodafone Group PLC, acquiring 119,224 shares valued at approximately $1,117,000 in the first quarter.
• Institutional investor activity has increased, with Deutsche Bank AG significantly boosting its position by 63,786.2%, now owning 1,597,156 shares worth $14,965,000.
• Vodafone Group's stock has a current consensus rating of "Hold" with a price target set at $136.00 by analysts after various upgrades and downgrades from firms like Goldman Sachs and Morgan Stanley.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Vodafone Group PLC (NASDAQ:VOD - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 119,224 shares of the cell phone carrier's stock, valued at approximately $1,117,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ACR Alpine Capital Research LLC increased its stake in Vodafone Group by 16.8% in the 1st quarter. ACR Alpine Capital Research LLC now owns 25,696,928 shares of the cell phone carrier's stock worth $240,780,000 after acquiring an additional 3,690,617 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in Vodafone Group by 18.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 5,998,450 shares of the cell phone carrier's stock worth $56,205,000 after purchasing an additional 944,189 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Vodafone Group by 1.3% during the first quarter. Envestnet Asset Management Inc. now owns 5,499,770 shares of the cell phone carrier's stock valued at $51,533,000 after purchasing an additional 69,986 shares in the last quarter. Bank of America Corp DE lifted its position in Vodafone Group by 1.8% during the fourth quarter. Bank of America Corp DE now owns 4,307,572 shares of the cell phone carrier's stock valued at $36,571,000 after purchasing an additional 76,608 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its stake in shares of Vodafone Group by 341.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 4,146,322 shares of the cell phone carrier's stock worth $35,202,000 after buying an additional 3,206,506 shares in the last quarter. 7.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on VOD. Morgan Stanley initiated coverage on shares of Vodafone Group in a report on Wednesday, July 2nd. They issued an "equal weight" rating for the company. Zacks Research raised Vodafone Group to a "hold" rating in a research note on Tuesday, August 12th. Berenberg Bank upgraded Vodafone Group to a "hold" rating in a report on Thursday, June 26th. The Goldman Sachs Group lowered shares of Vodafone Group from a "neutral" rating to a "sell" rating and set a $136.00 price objective for the company. in a research note on Thursday, July 31st. Finally, Wall Street Zen downgraded shares of Vodafone Group from a "buy" rating to a "hold" rating in a research note on Tuesday, May 27th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $136.00.

Vodafone Group Stock Up 1.4%

Shares of NASDAQ:VOD traded up $0.1650 on Wednesday, reaching $11.8750. The company had a trading volume of 3,526,353 shares, compared to its average volume of 11,747,382. The firm has a market capitalization of $28.82 billion, a PE ratio of 10.42, a PEG ratio of 0.56 and a beta of 0.62. The company has a current ratio of 1.26, a quick ratio of 1.23 and a debt-to-equity ratio of 0.85. Vodafone Group PLC has a 52-week low of $8.00 and a 52-week high of $11.92. The firm's 50 day simple moving average is $10.89 and its 200-day simple moving average is $9.83.

About Vodafone Group

Vodafone Group Public Limited Company provides telecommunication services in Europe and internationally. It offers mobile connectivity services comprising end-to-end services for mobile voice and data, messaging, device management, BYOx, and telecoms management, as well as professional and consulting services; and fixed line connectivity, such as fixed voice and data, broadband, software-defined networks, managed WAN, LAN, ethernet, and satellite; and financial services, as well as business and merchant services.