Mason Street Advisors LLC purchased a new stake in Cray Inc. (NASDAQ:CRAY) during the second quarter, Holdings Channel reports. The firm purchased 7,968 shares of the company’s stock, valued at approximately $238,000.
Other large investors have also recently modified their holdings of the company. Acrospire Investment Management LLC raised its stake in shares of Cray by 457.1% in the second quarter. Acrospire Investment Management LLC now owns 3,900 shares of the company’s stock valued at $117,000 after buying an additional 3,200 shares during the period. BlackRock Inc. increased its position in Cray by 30.5% in the second quarter. BlackRock Inc. now owns 3,936 shares of the company’s stock valued at $118,000 after buying an additional 919 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Cray by 3,382.1% in the second quarter. Tower Research Capital LLC TRC now owns 4,666 shares of the company’s stock valued at $140,000 after buying an additional 4,532 shares in the last quarter. Invictus RG bought a new position in Cray during the first quarter valued at approximately $150,000. Finally, PineBridge Investments L.P. increased its position in Cray by 4.0% in the second quarter. PineBridge Investments L.P. now owns 5,169 shares of the company’s stock valued at $154,000 after buying an additional 198 shares in the last quarter. 92.65% of the stock is owned by hedge funds and other institutional investors.
Cray (NASDAQ:CRAY) last posted its earnings results on Tuesday, August 2nd. The company reported ($0.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.23) by $0.06. Cray had a net margin of 1.96% and a return on equity of 5.72%. The company earned $100.20 million during the quarter, compared to the consensus estimate of $101.36 million. During the same quarter in the prior year, the business earned $0.30 EPS. The firm’s revenue for the quarter was down 46.2% compared to the same quarter last year.
CRAY has been the topic of several analyst reports. Zacks Investment Research upgraded Cray from a “sell” rating to a “hold” rating in a report on Tuesday, October 4th. KeyCorp decreased their price objective on Cray from $41.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, August 3rd. Stifel Nicolaus decreased their price objective on Cray from $49.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, August 3rd. Finally, Pacific Crest initiated coverage on Cray in a report on Thursday, July 28th. They issued an “overweight” rating and a $41.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Cray currently has an average rating of “Buy” and an average target price of $39.43.
In other news, SVP Michael Charles Piraino sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $21.97, for a total value of $329,550.00. Following the transaction, the senior vice president now owns 63,937 shares in the company, valued at $1,404,695.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.00% of the stock is owned by insiders.
Cray Inc designs, develops, manufactures, markets and services the high-end of the high performance computing (HPC) market, primarily categories of systems, known as supercomputers and provides storage and data analytics solutions. The Company provides software, system maintenance, support services and engineering services related to supercomputer systems.
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