Jane Street Group LLC Purchases 124,521 Shares of Sylvamo Corporation $SLVM

Key Points

• Jane Street Group LLC increased its stake in Sylvamo Corporation by 248.4% in the first quarter, now owning 174,648 shares valued at approximately $11.7 million.
• The stock has an average rating of "Reduce" from analysts, with a consensus target price of $71.00, following various downgrades and changes in price targets from major banks.
• Sylvamo reported a significant earnings miss for the last quarter, with an EPS of $0.37, falling short of the consensus estimate of $0.47, alongside a 14.9% year-over-year decline in revenue.

Jane Street Group LLC lifted its holdings in shares of Sylvamo Corporation (NYSE:SLVM - Free Report) by 248.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 174,648 shares of the company's stock after acquiring an additional 124,521 shares during the quarter. Jane Street Group LLC owned approximately 0.43% of Sylvamo worth $11,714,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Sylvamo in the first quarter valued at approximately $61,000. First Citizens Bank & Trust Co. bought a new stake in shares of Sylvamo during the 1st quarter valued at $200,000. James Investment Research Inc. bought a new stake in shares of Sylvamo during the 1st quarter valued at $251,000. NDVR Inc. grew its holdings in shares of Sylvamo by 9.2% during the 4th quarter. NDVR Inc. now owns 3,196 shares of the company's stock worth $253,000 after purchasing an additional 268 shares in the last quarter. Finally, Corton Capital Inc. bought a new position in shares of Sylvamo in the fourth quarter worth $258,000. 91.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SLVM shares. Royal Bank Of Canada set a $49.00 price target on shares of Sylvamo and gave the stock a "sector perform" rating in a report on Monday, August 11th. Bank of America cut their target price on Sylvamo from $67.00 to $64.00 and set an "underperform" rating for the company in a research note on Wednesday, July 9th. Finally, Zacks Research raised Sylvamo to a "strong sell" rating in a report on Monday, August 11th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target of $71.00.

Sylvamo Price Performance

Shares of SLVM traded up $0.24 during trading hours on Thursday, reaching $44.32. The stock had a trading volume of 90,813 shares, compared to its average volume of 362,994. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.91 and a current ratio of 1.54. The stock has a market capitalization of $1.79 billion, a PE ratio of 8.49, a PEG ratio of 2.59 and a beta of 1.00. Sylvamo Corporation has a 12 month low of $37.51 and a 12 month high of $98.02. The company's 50-day moving average is $47.63 and its two-hundred day moving average is $55.90.

Sylvamo (NYSE:SLVM - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.10). The firm had revenue of $794.00 million for the quarter, compared to the consensus estimate of $826.60 million. Sylvamo had a return on equity of 23.99% and a net margin of 6.11%.The business's revenue for the quarter was down 14.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.98 earnings per share. Research analysts expect that Sylvamo Corporation will post 7.45 EPS for the current year.

About Sylvamo

Sylvamo Corporation produces and markets uncoated freesheet for cutsize, offset paper, and pulp in Latin America, Europe, and North America. The company operates through Europe, Latin America, and North America segments. The Europe segment offers copy, tinted, and colored laser printing paper under REY Adagio and Pro-Design brands; and graphic and high-speed inkjet printing papers under the brand Jetstar; as well as produces uncoated freesheet papers.