Optiver Holding B.V. Sells 278,932 Shares of Companhia Paranaense de Energia - Copel Unsponsored ADR $ELPC

Key Points

• Optiver Holding B.V. reduced its ELPC position by 73.9% in the first quarter, selling 278,932 shares and retaining 98,266 shares valued at approximately $1.17 million.
• Copel’s latest quarterly results missed earnings expectations, with EPS of $0.16 versus the $0.19 consensus, although revenue of $1.33 billion exceeded estimates.
• The company declared a special dividend of $0.1904 per share, while ELPC traded near $11.73 and analysts maintained a “Moderate Buy” consensus with an average price target of $10.40.

Optiver Holding B.V. cut its position in Companhia Paranaense de Energia - Copel Unsponsored ADR (NYSE:ELPC - Free Report) by 73.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 98,266 shares of the company's stock after selling 278,932 shares during the period. Optiver Holding B.V.'s holdings in Companhia Paranaense de Energia - Copel were worth $1,173,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ELPC. Venturi Wealth Management LLC grew its holdings in shares of Companhia Paranaense de Energia - Copel by 10.6% during the first quarter. Venturi Wealth Management LLC now owns 11,166 shares of the company's stock valued at $133,000 after buying an additional 1,068 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Companhia Paranaense de Energia - Copel by 23.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 7,373 shares of the company's stock valued at $88,000 after acquiring an additional 1,379 shares in the last quarter. Federation des caisses Desjardins du Quebec lifted its position in Companhia Paranaense de Energia - Copel by 143.5% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 2,800 shares of the company's stock valued at $27,000 after acquiring an additional 1,650 shares in the last quarter. Millennium Management LLC boosted its stake in Companhia Paranaense de Energia - Copel by 13.0% during the 4th quarter. Millennium Management LLC now owns 19,083 shares of the company's stock valued at $181,000 after purchasing an additional 2,190 shares during the last quarter. Finally, Arax Advisory Partners purchased a new stake in Companhia Paranaense de Energia - Copel during the 4th quarter valued at $45,000.

Insider Buying and Selling at Companhia Paranaense de Energia - Copel

In other news, Director Abreu Marco Antonio Villela De sold 32,490 shares of the firm's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $2.94, for a total value of $95,520.60. Following the transaction, the director directly owned 63,546 shares in the company, valued at $186,825.24. This trade represents a 33.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Companhia Paranaense de Energia - Copel Stock Down 0.6%

ELPC opened at $11.73 on Friday. The firm has a 50 day moving average price of $11.58 and a 200-day moving average price of $11.53. Companhia Paranaense de Energia - Copel Unsponsored ADR has a twelve month low of $7.80 and a twelve month high of $13.70. The stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 1.04 and a beta of -0.07.

Companhia Paranaense de Energia - Copel (NYSE:ELPC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.03). The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.13 billion. As a group, analysts expect that Companhia Paranaense de Energia - Copel Unsponsored ADR will post 0.7 earnings per share for the current year.

Companhia Paranaense de Energia - Copel Announces Dividend

The company also recently declared a special dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Friday, May 1st will be issued a dividend of $0.1904 per share. The ex-dividend date of this dividend is Friday, May 1st. Companhia Paranaense de Energia - Copel's dividend payout ratio is presently 105.26%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Wall Street Zen lowered Companhia Paranaense de Energia - Copel from a "buy" rating to a "hold" rating in a report on Saturday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Companhia Paranaense de Energia - Copel in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Companhia Paranaense de Energia - Copel has a consensus rating of "Moderate Buy" and an average price target of $10.40.

Companhia Paranaense de Energia - Copel Company Profile

Companhia Paranaense de Energia – Copel is a Brazilian utility company primarily engaged in the generation, transmission and distribution of electricity. Established in 1954, Copel operates a diversified portfolio of power plants, with a strong emphasis on hydroelectric facilities supplemented by thermal and renewable energy sources. The company's integrated network spans the entirety of Paraná state, delivering electricity services to residential, commercial and industrial customers through a combination of high-voltage transmission lines and local distribution networks.

In addition to its core power business, Copel has expanded into telecommunications through its Copel Telecom subsidiary.

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