Jump Financial LLC Grows Stock Position in Sylvamo Corporation $SLVM

Key Points

• Jump Financial LLC increased its stake in Sylvamo Corporation by 255.9% during the first quarter, now owning approximately 38,285 shares valued at $2.57 million.
• Sylvamo's stock received a mix of ratings from analysts, with one buying, one holding, and two selling, leading to an average price target of $71.00.
• The company reported a 14.9% decline in revenue year-over-year, with quarterly earnings per share at $0.37, missing estimates by $0.10.

Jump Financial LLC increased its position in shares of Sylvamo Corporation (NYSE:SLVM - Free Report) by 255.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,285 shares of the company's stock after purchasing an additional 27,528 shares during the quarter. Jump Financial LLC owned approximately 0.09% of Sylvamo worth $2,568,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Sylvamo by 5.2% during the first quarter. Vanguard Group Inc. now owns 2,994,527 shares of the company's stock worth $200,843,000 after buying an additional 149,326 shares in the last quarter. Victory Capital Management Inc. grew its stake in Sylvamo by 351.8% during the 1st quarter. Victory Capital Management Inc. now owns 166,844 shares of the company's stock valued at $11,190,000 after acquiring an additional 129,916 shares in the last quarter. American Century Companies Inc. raised its holdings in Sylvamo by 10.6% in the 1st quarter. American Century Companies Inc. now owns 1,123,686 shares of the company's stock valued at $75,366,000 after acquiring an additional 107,622 shares during the last quarter. Nuveen LLC purchased a new position in Sylvamo in the 1st quarter worth approximately $6,371,000. Finally, Millennium Management LLC boosted its holdings in shares of Sylvamo by 185.1% during the 4th quarter. Millennium Management LLC now owns 144,431 shares of the company's stock worth $11,413,000 after purchasing an additional 93,767 shares during the last quarter. Hedge funds and other institutional investors own 91.16% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Bank of America cut their price target on Sylvamo from $67.00 to $64.00 and set an "underperform" rating for the company in a report on Wednesday, July 9th. Royal Bank Of Canada set a $49.00 target price on Sylvamo and gave the stock a "sector perform" rating in a research note on Monday, August 11th. Finally, Zacks Research upgraded 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Sylvamo has an average rating of "Reduce" and an average price target of $71.00.

Sylvamo Price Performance

SLVM stock opened at $44.59 on Wednesday. Sylvamo Corporation has a 52-week low of $37.51 and a 52-week high of $98.02. The company has a quick ratio of 0.91, a current ratio of 1.54 and a debt-to-equity ratio of 0.80. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 8.53, a price-to-earnings-growth ratio of 2.51 and a beta of 1.00. The business has a fifty day moving average of $48.22 and a two-hundred day moving average of $56.94.

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 analysts' consensus estimates of $0.47 by ($0.10). The business had revenue of $794.00 million for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.98 earnings per share. As a group, research analysts anticipate that Sylvamo Corporation will post 7.45 earnings per share for the current year.

Sylvamo Profile

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.

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