Kapitalo Investimentos Ltda Sells 114,149 Shares of Braskem S.A. $BAK

Key Points

• Kapitalo Investimentos Ltda sold 114,149 shares of Braskem S.A., reducing its holdings by 7.8% in the second quarter, and now owns 1.35 million shares worth approximately $4.43 million.
• Analyst ratings for Braskem show a mixed outlook, with a drop in target price from JPMorgan to $5.00, while Zacks upgraded the stock to a "strong buy," leading to a consensus rating of "Moderate Buy."
• Braskem's stock performance reflects a volatile market, with shares recently trading at $3.15, a decline from its fifty-two week high of $7.71.

Kapitalo Investimentos Ltda decreased its holdings in Braskem S.A. (NYSE:BAK - Free Report) by 7.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,351,867 shares of the company's stock after selling 114,149 shares during the period. Braskem makes up approximately 1.0% of Kapitalo Investimentos Ltda's investment portfolio, making the stock its 21st largest position. Kapitalo Investimentos Ltda owned about 0.34% of Braskem worth $4,434,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Graham Capital Management L.P. acquired a new stake in shares of Braskem during the 1st quarter worth about $532,000. Bank of America Corp DE grew its holdings in shares of Braskem by 431.0% during the fourth quarter. Bank of America Corp DE now owns 134,824 shares of the company's stock worth $520,000 after buying an additional 109,433 shares in the last quarter. Banco BTG Pactual S.A. acquired a new stake in shares of Braskem in the first quarter worth approximately $248,000. Jane Street Group LLC increased its position in shares of Braskem by 47.2% in the fourth quarter. Jane Street Group LLC now owns 133,564 shares of the company's stock worth $516,000 after acquiring an additional 42,828 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Braskem in the 4th quarter valued at about $164,000.

Braskem Stock Performance

Shares of NYSE BAK traded down $0.05 during midday trading on Monday, reaching $3.10. The company's stock had a trading volume of 854,147 shares, compared to its average volume of 693,248. Braskem S.A. has a fifty-two week low of $2.80 and a fifty-two week high of $7.71. The business's 50 day moving average price is $3.22 and its two-hundred day moving average price is $3.48. The company has a market cap of $1.24 billion, a P/E ratio of -1.23 and a beta of 1.81.

Braskem (NYSE:BAK - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.14) EPS for the quarter, beating analysts' consensus estimates of ($0.70) by $0.56. The company had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $18.76 billion. Sell-side analysts forecast that Braskem S.A. will post -0.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BAK. Zacks Research raised shares of Braskem from a "hold" rating to a "strong-buy" rating in a report on Monday, September 1st. JPMorgan Chase & Co. reduced their price target on shares of Braskem from $6.00 to $5.00 and set a "neutral" rating for the company in a report on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $5.00.

Braskem Company Profile

Braskem SA, together with its subsidiaries, produces and sells thermoplastic resins. The company operates through three segments: Brazil, United States and Europe, and Mexico. The Brazil segment produces and sells olefins, including ethylene, polymer and chemical grade propylene, butadiene, and butene-1; benzene, toluene, and xylenes products; fuels, such as automotive gasoline, liquefied petroleum gas, ethyl tertiary-butyl ether, and methyl tertiary-butyl ether; intermediates, such as cumene; aliphatics, aromatics, and hydrogenated solvents; and specialties comprising isoprene, dicyclopentadiene, piperylene, nonene, tetramer, polyisobutylene, and hydrocarbon resins.