BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Releases Quarterly Earnings Results, Beats Expectations By $0.20 EPS

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) issued its quarterly earnings data on Thursday. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.20, Briefing.com reports. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.33) earnings per share.

BlackRock Short-Term California Muni Bond ETF Price Performance

Shares of CALY traded down $0.32 during midday trading on Thursday, hitting $14.74. The stock had a trading volume of 5,559,343 shares, compared to its average volume of 3,178,995. The stock’s 50 day moving average is $36.97 and its 200 day moving average is $45.81. The firm has a market cap of $2.71 billion, a PE ratio of -1.80 and a beta of 0.96. BlackRock Short-Term California Muni Bond ETF has a 1 year low of $5.42 and a 1 year high of $16.65.

Insider Buying and Selling

In related news, major shareholder Pep Tg Investments Gp Llc sold 10,000,000 shares of the company’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $14.70, for a total transaction of $147,000,000.00. Following the transaction, the insider directly owned 11,175,226 shares in the company, valued at approximately $164,275,822.20. This represents a 47.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.49% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CALY. KeyCorp raised BlackRock Short-Term California Muni Bond ETF from a “sector weight” rating to an “overweight” rating and set a $17.00 price objective on the stock in a research report on Friday, January 16th. Truist Financial lifted their price target on shares of BlackRock Short-Term California Muni Bond ETF from $12.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday. B. Riley Financial upgraded shares of BlackRock Short-Term California Muni Bond ETF from a “neutral” rating to a “buy” rating and upped their price target for the stock from $11.00 to $19.00 in a research report on Thursday, January 22nd. Finally, Zacks Research downgraded shares of BlackRock Short-Term California Muni Bond ETF from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th.

About BlackRock Short-Term California Muni Bond ETF

The BlackRock Short-Term California Muni Bond ETF (CALY) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed fund that primarily invests in municipal securities exempt from federal income taxes. It will hold short-term, investment grade Muni bonds issued in California while aiming for an effective portfolio duration equal to or less than 1.5 years. CALY was launched on Jul 11, 2023 and is issued by BlackRock.