Signature Resources Capital Management LLC Purchases New Position in HP Inc. (NYSE:HPQ)

Signature Resources Capital Management LLC acquired a new position in shares of HP Inc. (NYSE:HPQ) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,271 shares of the computer maker’s stock, valued at approximately $68,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Cambridge Investment Research Advisors Inc. boosted its position in HP by 6.8% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 90,200 shares of the computer maker’s stock valued at $2,318,000 after acquiring an additional 5,750 shares in the last quarter. Dakota Wealth Management raised its holdings in HP by 3.7% in the third quarter. Dakota Wealth Management now owns 13,483 shares of the computer maker’s stock worth $347,000 after purchasing an additional 479 shares in the last quarter. FinTrust Capital Advisors LLC lifted its position in shares of HP by 35.6% during the third quarter. FinTrust Capital Advisors LLC now owns 10,031 shares of the computer maker’s stock valued at $258,000 after buying an additional 2,633 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of HP by 18.7% in the 3rd quarter. Raymond James & Associates now owns 227,556 shares of the computer maker’s stock valued at $5,848,000 after buying an additional 35,800 shares in the last quarter. Finally, Stratos Wealth Partners LTD. grew its position in shares of HP by 116.9% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 25,213 shares of the computer maker’s stock worth $648,000 after buying an additional 13,591 shares during the last quarter. 77.53% of the stock is owned by institutional investors.

HP Price Performance

HP stock traded up $0.24 during trading hours on Friday, hitting $28.18. 6,648,423 shares of the stock traded hands, compared to its average volume of 6,200,519. HP Inc. has a 1 year low of $25.22 and a 1 year high of $33.90. The stock has a market capitalization of $27.64 billion, a price-to-earnings ratio of 8.24, a P/E/G ratio of 2.36 and a beta of 1.06. The firm’s 50 day moving average price is $29.20 and its 200-day moving average price is $28.89.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, February 28th. The computer maker reported $0.81 earnings per share for the quarter, hitting the consensus estimate of $0.81. HP had a net margin of 6.45% and a negative return on equity of 181.02%. The company had revenue of $13.19 billion for the quarter, compared to the consensus estimate of $13.56 billion. During the same quarter in the prior year, the company earned $0.75 EPS. HP’s quarterly revenue was down 4.4% on a year-over-year basis. Research analysts forecast that HP Inc. will post 3.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Kristen M. Ludgate sold 41,015 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the sale, the insider now owns 56,169 shares of the company’s stock, valued at approximately $1,642,381.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other HP news, Director Robert R. Bennett sold 67,000 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $30.01, for a total transaction of $2,010,670.00. Following the transaction, the director now directly owns 60,216 shares of the company’s stock, valued at $1,807,082.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Kristen M. Ludgate sold 41,015 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the sale, the insider now directly owns 56,169 shares of the company’s stock, valued at approximately $1,642,381.56. The disclosure for this sale can be found here. Insiders sold a total of 116,723 shares of company stock valued at $3,479,287 over the last 90 days. Insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. HSBC raised shares of HP from a “hold” rating to a “buy” rating and increased their target price for the company from $30.00 to $33.00 in a research report on Wednesday, February 14th. StockNews.com cut HP from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Finally, Barclays boosted their target price on HP from $22.00 to $24.00 and gave the stock an “underweight” rating in a research note on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.11.

HP Profile

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.