Phoenix Financial Ltd. Decreases Stock Holdings in Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY)

Key Points

• Phoenix Financial Ltd. reduced its holdings in Brainsway Ltd. Sponsored ADR by 16.3%, owning about 403,994 shares valued at approximately $3.83 million as of the latest quarter.
• Several institutional investors, including GAMMA Investing LLC and Palumbo Wealth Management LLC, have recently increased their positions in Brainsway, with institutional ownership now at 30.11%.
• Brainsway reported an earnings per share (EPS) of $0.04 for the latest quarter, exceeding expectations, while analysts predict an EPS of $0.08 for the current year.

Phoenix Financial Ltd. cut its stake in shares of Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY - Free Report) by 16.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 403,994 shares of the company's stock after selling 78,730 shares during the quarter. Phoenix Financial Ltd. owned approximately 2.14% of Brainsway worth $3,826,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lazard Asset Management LLC bought a new position in shares of Brainsway during the fourth quarter valued at about $44,000. GAMMA Investing LLC boosted its position in Brainsway by 720.7% during the first quarter. GAMMA Investing LLC now owns 9,356 shares of the company's stock worth $89,000 after purchasing an additional 8,216 shares during the period. JPMorgan Chase & Co. boosted its position in Brainsway by 61.9% during the fourth quarter. JPMorgan Chase & Co. now owns 23,918 shares of the company's stock worth $226,000 after purchasing an additional 9,149 shares during the period. Two Sigma Investments LP boosted its position in shares of Brainsway by 2.0% in the fourth quarter. Two Sigma Investments LP now owns 92,755 shares of the company's stock valued at $875,000 after acquiring an additional 1,786 shares during the period. Finally, Zuckerman Investment Group LLC boosted its position in shares of Brainsway by 346.4% in the fourth quarter. Zuckerman Investment Group LLC now owns 67,000 shares of the company's stock valued at $667,000 after acquiring an additional 51,991 shares during the period. 30.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a "buy" rating and issued a $16.00 price objective on shares of Brainsway in a research report on Monday, June 9th.

Brainsway Stock Performance

BWAY traded up $0.13 on Wednesday, reaching $11.96. The company had a trading volume of 2,913 shares, compared to its average volume of 51,521. The business has a 50 day simple moving average of $11.66 and a 200 day simple moving average of $10.39. The company has a market cap of $226.04 million, a price-to-earnings ratio of 59.80 and a beta of 1.40. Brainsway Ltd. Sponsored ADR has a 52-week low of $5.98 and a 52-week high of $13.65.

Brainsway (NASDAQ:BWAY - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.02 by $0.02. The firm had revenue of $11.54 million for the quarter, compared to the consensus estimate of $11.45 million. Brainsway had a net margin of 9.01% and a return on equity of 7.35%. As a group, equities research analysts predict that Brainsway Ltd. Sponsored ADR will post 0.08 EPS for the current fiscal year.

Brainsway Profile

BrainsWay Ltd. develops and sells noninvasive neurostimulation treatments for mental health disorders in the United States and internationally. It offers Deep Transcranial Magnetic Stimulation platform technology for the treatment of major depressive disorders, anxious depression, obsessive-compulsive disorders, smoking addiction, bipolar disorders, post traumatic stress disorders, schizophrenia, Alzheimer's disease, autism, chronic pain, multiple sclerosis, post stroke rehabilitation, and Parkinson's diseases.