Cubist Systematic Strategies LLC Lowers Stock Holdings 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 lessened its holdings in Sprott Inc. (NYSE:SII - Free Report) by 63.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,622 shares of the company's stock after selling 21,820 shares during the quarter. Cubist Systematic Strategies LLC's holdings in Sprott were worth $566,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SII. Royal Bank of Canada raised its position in shares of Sprott by 29.1% in the 1st quarter. Royal Bank of Canada now owns 109,878 shares of the company's stock valued at $4,930,000 after purchasing an additional 24,763 shares during the last quarter. Caption Management LLC increased its stake in Sprott by 23.2% during the 1st quarter. Caption Management LLC now owns 32,557 shares of the company's stock valued at $1,461,000 after purchasing an additional 6,138 shares in the last quarter. Baird Financial Group Inc. raised its holdings in shares of Sprott by 17.8% in the first quarter. Baird Financial Group Inc. now owns 57,062 shares of the company's stock worth $2,560,000 after buying an additional 8,636 shares during the last quarter. Trexquant Investment LP lifted its stake in shares of Sprott by 162.6% during the first quarter. Trexquant Investment LP now owns 33,463 shares of the company's stock worth $1,501,000 after buying an additional 20,720 shares during the period. Finally, Jacobs Asset Management LLC grew its holdings in shares of Sprott by 11.2% during the first quarter. Jacobs Asset Management LLC now owns 288,779 shares of the company's stock valued at $12,958,000 after buying an additional 29,069 shares during the last quarter. Hedge funds and other institutional investors own 28.30% of the company's stock.

Analyst Upgrades and Downgrades

Separately, TD Securities lowered Sprott from a "buy" rating to a "hold" rating in a research note on Tuesday, July 22nd. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy".

Sprott Stock Down 1.2%

Shares of SII stock traded down $0.85 on Tuesday, hitting $69.59. The company had a trading volume of 92,454 shares, compared to its average volume of 134,984. Sprott Inc. has a twelve month low of $39.33 and a twelve month high of $77.16. The firm has a market cap of $1.79 billion, a P/E ratio of 36.06 and a beta of 1.01. The company has a 50-day moving average price of $68.22 and a 200-day moving average price of $58.68.

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

Sprott Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.7%. The ex-dividend date was Monday, August 18th. Sprott's dividend payout ratio (DPR) 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.