SPX Gestao de Recursos Ltda Takes Position in Pampa Energia S.A. $PAM

Key Points

• SPX Gestao de Recursos Ltda initiated a new position in Pampa Energia during the first quarter, buying 163,643 shares worth about $14.5 million. The stake represented roughly 1.2% of its portfolio and about 0.30% of Pampa Energia.
• Institutional interest remains active, with several other hedge funds and asset managers also adding or starting positions in the company. Overall, institutional investors now own 12.77% of Pampa Energia’s stock.
• Analysts are cautiously positive on Pampa Energia, with the stock carrying an average "Moderate Buy" rating and an average target price of $103.83. Meanwhile, recent insider sales were notable, including large disposals by Marcos Marcelo Mindlin and Damian Miguel Mindlin.

SPX Gestao de Recursos Ltda bought a new stake in shares of Pampa Energia S.A. (NYSE:PAM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 163,643 shares of the utilities provider's stock, valued at approximately $14,482,000. Pampa Energia comprises about 1.2% of SPX Gestao de Recursos Ltda's investment portfolio, making the stock its 22nd largest holding. SPX Gestao de Recursos Ltda owned about 0.30% of Pampa Energia as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. DGS Capital Management LLC lifted its stake in shares of Pampa Energia by 16.6% in the 1st quarter. DGS Capital Management LLC now owns 3,083 shares of the utilities provider's stock valued at $273,000 after acquiring an additional 438 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Pampa Energia in the 1st quarter worth approximately $1,569,000. Deltec Asset Management LLC lifted its position in Pampa Energia by 134.8% in the first quarter. Deltec Asset Management LLC now owns 11,738 shares of the utilities provider's stock valued at $1,039,000 after purchasing an additional 6,738 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Pampa Energia in the first quarter valued at approximately $4,896,000. Finally, Connective Portfolio Management LLC bought a new stake in Pampa Energia during the 1st quarter valued at $620,000. Hedge funds and other institutional investors own 12.77% of the company's stock.

Pampa Energia Price Performance

PAM opened at $82.08 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.78 and a debt-to-equity ratio of 0.49. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 10.23, a price-to-earnings-growth ratio of 2.84 and a beta of 0.97. The stock has a fifty day simple moving average of $82.92 and a two-hundred day simple moving average of $83.22. Pampa Energia S.A. has a 12-month low of $54.95 and a 12-month high of $94.50.

Pampa Energia (NYSE:PAM - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The utilities provider reported $4.00 EPS for the quarter. The business had revenue of $573.00 million for the quarter. Pampa Energia had a net margin of 20.31% and a return on equity of 12.23%. Research analysts predict that Pampa Energia S.A. will post 9.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PAM. JPMorgan Chase & Co. raised their price target on shares of Pampa Energia from $97.50 to $101.50 and gave the stock a "neutral" rating in a report on Monday, June 1st. Wall Street Zen downgraded Pampa Energia from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 20th. Weiss Ratings reiterated a "hold (c)" rating on shares of Pampa Energia in a report on Friday, June 12th. Finally, Zacks Research raised Pampa Energia from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $103.83.

Insiders Place Their Bets

In related news, Director Marcos Marcelo Mindlin sold 1,800,000 shares of the company's stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $3.48, for a total value of $6,264,000.00. Following the transaction, the director owned 24,971,973 shares in the company, valued at $86,902,466.04. The trade was a 6.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Damian Miguel Mindlin sold 555,000 shares of the company's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $3.55, for a total value of $1,970,250.00. Following the completion of the transaction, the insider directly owned 12,541,870 shares in the company, valued at $44,523,638.50. This trade represents a 4.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have acquired 1,710,694 shares of company stock valued at $7,701,005 and have sold 9,907,000 shares valued at $34,248,570. 55.52% of the stock is currently owned by insiders.

About Pampa Energia

Pampa Energía SA is Argentina's largest independent energy company, with integrated operations spanning electricity generation, transmission, distribution and oil and gas activities. The company holds a diversified portfolio of thermal and hydroelectric power plants, along with growing investments in renewable energy projects, serving both domestic and regional markets.

In its electricity business, Pampa Energía develops and operates plants that supply energy to Argentina's power grid.

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