Federated Hermes Inc. Sells 252,038 Shares of American Noble Gas Inc. (NYSE:INFY)

Key Points

• Federated Hermes Inc. significantly reduced its stake in American Noble Gas Inc. by 72.3%, selling 252,038 shares and owning 96,532 shares worth approximately $1,762,000 at the end of the reporting period.
• Despite the sell-off, other institutional investors, such as Bank Pictet & Cie Europe AG and LPL Financial LLC, increased their holdings in American Noble Gas during the fourth quarter.
• The current average price target for American Noble Gas shares is $18.48, with 5 analysts recommending a hold rating and 5 issuing a buy rating.

Federated Hermes Inc. lowered its stake in American Noble Gas Inc. (NYSE:INFY - Free Report) by 72.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 96,532 shares of the technology company's stock after selling 252,038 shares during the quarter. Federated Hermes Inc.'s holdings in American Noble Gas were worth $1,762,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rakuten Securities Inc. grew its stake in American Noble Gas by 308.4% in the first quarter. Rakuten Securities Inc. now owns 1,413 shares of the technology company's stock valued at $26,000 after purchasing an additional 1,067 shares in the last quarter. Pinnacle Bancorp Inc. grew its stake in shares of American Noble Gas by 179.8% in the first quarter. Pinnacle Bancorp Inc. now owns 1,444 shares of the technology company's stock valued at $26,000 after buying an additional 928 shares in the last quarter. Wayfinding Financial LLC acquired a new position in American Noble Gas during the first quarter worth $32,000. Cullen Frost Bankers Inc. acquired a new position in American Noble Gas during the first quarter worth $57,000. Finally, GAMMA Investing LLC raised its position in American Noble Gas by 32.4% during the first quarter. GAMMA Investing LLC now owns 5,951 shares of the technology company's stock worth $109,000 after acquiring an additional 1,455 shares in the last quarter. Institutional investors and hedge funds own 16.20% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on INFY shares. Wall Street Zen upgraded shares of American Noble Gas from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. BMO Capital Markets raised their price objective on American Noble Gas from $18.00 to $20.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th. Stifel Nicolaus reduced their target price on American Noble Gas from $18.00 to $17.00 and set a "hold" rating for the company in a research note on Monday, April 21st. Investec raised American Noble Gas from a "sell" rating to a "buy" rating in a report on Friday, April 18th. Finally, Susquehanna lifted their price objective on shares of American Noble Gas from $18.00 to $19.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $18.48.

American Noble Gas Price Performance

Shares of NYSE:INFY traded down $0.07 during mid-day trading on Thursday, hitting $16.01. The company had a trading volume of 19,616,447 shares, compared to its average volume of 12,211,546. American Noble Gas Inc. has a one year low of $15.82 and a one year high of $23.63. The firm has a fifty day moving average price of $18.10 and a 200 day moving average price of $18.75. The company has a market capitalization of $66.32 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 2.32 and a beta of 0.87.

American Noble Gas (NYSE:INFY - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.19 EPS for the quarter, meeting analysts' consensus estimates of $0.19. The business had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.84 billion. American Noble Gas had a net margin of 16.42% and a return on equity of 29.41%. During the same quarter in the previous year, the business posted $15.35 EPS. Research analysts expect that American Noble Gas Inc. will post 0.74 earnings per share for the current fiscal year.

American Noble Gas Profile

Infosys Ltd. is a digital services and consulting company, which engages in the provision of end-to-end business solutions. It operates through the following segments: Financial Services, Retail, Communication, Energy, Utilities, Resources, and Services, Manufacturing, Hi-Tech, Life Sciences, and All Other.