Cubist Systematic Strategies LLC Has $566,000 Stock Position in Sprott Inc. $SII

Key Points

• Cubist Systematic Strategies LLC has reduced its stake in Sprott Inc. by 63.4%, now holding shares worth $566,000 after selling 21,820 shares in the first quarter.
• Analysts have downgraded Sprott Inc. from a "buy" to a "hold" rating, but the stock maintains an average rating of "Moderate Buy".
• Sprott recently reported $0.52 earnings per share for the quarter, exceeding expectations, and announced a quarterly dividend of $0.30, delivering a 1.7% dividend yield.

Cubist Systematic Strategies LLC lowered its holdings in shares of Sprott Inc. (NYSE:SII - Free Report) by 63.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 12,622 shares of the company's stock after selling 21,820 shares during the period. Cubist Systematic Strategies LLC's holdings in Sprott were worth $566,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Tacita Capital Inc acquired a new stake in shares of Sprott in the first quarter valued at approximately $35,000. Deutsche Bank AG grew its holdings in Sprott by 100.7% during the 4th quarter. Deutsche Bank AG now owns 2,164 shares of the company's stock worth $91,000 after acquiring an additional 1,086 shares during the period. Fidelis Capital Partners LLC bought a new position in shares of Sprott during the 1st quarter worth about $247,000. Y Intercept Hong Kong Ltd bought a new position in shares of Sprott during the 1st quarter worth about $247,000. Finally, Essex Financial Services Inc. lifted its position in Sprott by 9.2% in the 1st quarter. Essex Financial Services Inc. now owns 5,678 shares of the company's stock valued at $255,000 after acquiring an additional 477 shares in the last quarter. 28.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, TD Securities cut shares of Sprott from a "buy" rating to a "hold" rating in a research report on Tuesday, July 22nd. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy".

Sprott Price Performance

Shares of NYSE SII opened at $68.91 on Thursday. The stock has a market capitalization of $1.78 billion, a P/E ratio of 35.71 and a beta of 1.01. Sprott Inc. has a 1 year low of $38.88 and a 1 year high of $77.16. The company's 50-day moving average is $68.21 and its 200 day moving average is $57.83.

Sprott (NYSE:SII - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.14. The business had revenue of $41.97 million for the quarter, compared to analysts' expectations of $44.66 million. Sprott had a net margin of 25.21% and a return on equity of 15.04%.

Sprott Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Monday, August 18th. Sprott's dividend payout ratio is currently 62.18%.

Sprott Profile

Sprott Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides asset management, portfolio management, wealth management, fund management, and administrative and consulting services to its clients. It offers mutual funds, hedge funds, and offshore funds, along with managed accounts.

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