Walleye Capital LLC Sells 31,336 Shares of POSCO $PKX

Key Points

• Walleye Capital LLC significantly reduced its stake in POSCO, selling 31,336 shares and holding only 8,520 shares by the end of the first quarter, translating to a 78.6% decrease in its position.
• Several other institutional investors have increased their holdings, with GAMMA Investing LLC boosting its position by 329.1%, and Brooklyn Investment Group's stake increasing by 938.0% in the same period.
• POSCO's latest earnings report showed an EPS of $0.35, which was below the consensus estimate of $0.52, indicating a miss in both earnings and revenue expectations for the quarter.

Walleye Capital LLC reduced its position in POSCO (NYSE:PKX - Free Report) by 78.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,520 shares of the basic materials company's stock after selling 31,336 shares during the quarter. Walleye Capital LLC's holdings in POSCO were worth $405,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of POSCO by 329.1% in the 1st quarter. GAMMA Investing LLC now owns 1,605 shares of the basic materials company's stock worth $76,000 after purchasing an additional 1,231 shares in the last quarter. Brooklyn Investment Group raised its stake in shares of POSCO by 938.0% during the first quarter. Brooklyn Investment Group now owns 2,647 shares of the basic materials company's stock worth $126,000 after acquiring an additional 2,392 shares in the last quarter. Lindbrook Capital LLC raised its stake in shares of POSCO by 10.2% during the first quarter. Lindbrook Capital LLC now owns 3,412 shares of the basic materials company's stock worth $162,000 after acquiring an additional 316 shares in the last quarter. Johnson Investment Counsel Inc. purchased a new position in shares of POSCO during the first quarter worth approximately $201,000. Finally, QRG Capital Management Inc. purchased a new position in shares of POSCO during the first quarter worth approximately $212,000.

Analyst Upgrades and Downgrades

PKX has been the topic of several research reports. UBS Group raised shares of POSCO from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 21st. Wall Street Zen upgraded POSCO from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Morgan Stanley upgraded POSCO from an "equal weight" rating to an "overweight" rating in a report on Friday, July 4th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

POSCO Stock Down 2.1%

Shares of NYSE PKX opened at $50.49 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.89 and a debt-to-equity ratio of 0.24. POSCO has a 52 week low of $39.40 and a 52 week high of $74.01. The firm's fifty day moving average is $54.89 and its 200 day moving average is $49.71. The company has a market cap of $15.33 billion, a price-to-earnings ratio of 62.34, a PEG ratio of 0.36 and a beta of 1.41.

POSCO (NYSE:PKX - Get Free Report) last issued its earnings results on Thursday, July 31st. The basic materials company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.17). The firm had revenue of $12.66 billion during the quarter, compared to analysts' expectations of $13.21 billion. POSCO had a return on equity of 0.81% and a net margin of 0.69%. On average, equities research analysts expect that POSCO will post 3.74 earnings per share for the current year.

POSCO Company Profile

POSCO Holdings Inc, together with its subsidiaries, operates as an integrated steel producer in Korea and internationally. It operates through six segments: Steel, Trading, Construction, Logistics and Others, Green Materials and Energy, and Others. The company engages in the production, import, sale, and export of steel products, such as hot and cold rolled steel, stainless steel, plates, wire rods, and silicon steel sheets, as well as pig iron, billets, blooms, and slabs; trading of steel and raw materials, textiles, agricultural commodities, and other goods; natural resources development and power generation activities; and planning, designing, and construction of industrial plants, civil engineering projects, and commercial and residential buildings.

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