Cubist Systematic Strategies LLC Acquires Shares of 6,052 Brink's Company (The) $BCO

Key Points

• Cubist Systematic Strategies LLC has acquired a new stake in Brink's Company, purchasing 6,052 shares valued at approximately $521,000 during the 1st quarter.
• Brink's stock has received a rating upgrade from analysts at Wall Street Zen, increasing from "hold" to "strong-buy" with a consensus target price of $138.00.
• The company recently reported strong quarterly earnings of $1.79 EPS, exceeding expectations, with revenue of $1.30 billion, reflecting a 3.8% year-over-year increase.

Cubist Systematic Strategies LLC acquired a new position in shares of Brink's Company (The) (NYSE:BCO - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 6,052 shares of the business services provider's stock, valued at approximately $521,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Royal Bank of Canada increased its position in Brink's by 10.9% in the 1st quarter. Royal Bank of Canada now owns 54,678 shares of the business services provider's stock valued at $4,711,000 after acquiring an additional 5,359 shares during the period. State of Wyoming increased its holdings in shares of Brink's by 166.7% during the first quarter. State of Wyoming now owns 6,425 shares of the business services provider's stock valued at $554,000 after purchasing an additional 4,016 shares during the period. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Brink's by 1.7% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 467,047 shares of the business services provider's stock valued at $40,241,000 after purchasing an additional 7,697 shares in the last quarter. Channing Capital Management LLC lifted its holdings in Brink's by 7.6% in the first quarter. Channing Capital Management LLC now owns 890,700 shares of the business services provider's stock worth $76,743,000 after purchasing an additional 62,676 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Brink's by 3.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 533,038 shares of the business services provider's stock worth $45,927,000 after purchasing an additional 15,323 shares during the period. 94.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Brink's from a "hold" rating to a "strong-buy" rating in a research report on Sunday, August 10th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $138.00.

Insider Activity

In other news, Director Arthelbert Louis Parker sold 540 shares of Brink's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $115.00, for a total transaction of $62,100.00. Following the transaction, the director owned 6,603 shares in the company, valued at approximately $759,345. The trade was a 7.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Daniel J. Castillo sold 21,700 shares of the company's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $109.70, for a total value of $2,380,490.00. Following the transaction, the executive vice president directly owned 22,188 shares in the company, valued at $2,434,023.60. The trade was a 49.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,058 shares of company stock valued at $2,946,513. Corporate insiders own 0.72% of the company's stock.

Brink's Price Performance

BCO stock traded down $0.28 on Tuesday, hitting $114.91. 212,244 shares of the company's stock traded hands, compared to its average volume of 271,780. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 9.84. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 31.06 and a beta of 1.48. Brink's Company has a 1-year low of $80.10 and a 1-year high of $117.65. The stock has a fifty day moving average of $103.57 and a 200-day moving average of $92.98.

Brink's (NYSE:BCO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The business services provider reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.36. The company had revenue of $1.30 billion for the quarter, compared to analysts' expectations of $1.27 billion. Brink's had a return on equity of 86.86% and a net margin of 3.21%.The firm's revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.67 earnings per share. On average, analysts forecast that Brink's Company will post 6.49 EPS for the current fiscal year.

Brink's Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, July 28th were paid a dividend of $0.255 per share. The ex-dividend date of this dividend was Monday, July 28th. This represents a $1.02 dividend on an annualized basis and a yield of 0.9%. Brink's's dividend payout ratio is currently 27.57%.

About Brink's

The Brink's Co engages in providing cash management services, digital retail solutions, and ATM managed services. It operates through the following geographical segments: North America, Latin America, Europe, and Rest of World. The North America segment operates in the U.S. and Canada. The Latin America segment refers to the operations in Latin American countries.