American International Group Inc. raised its stake in West Marine, Inc. (NASDAQ:WMAR) by 7.1% during the first quarter, Holdings Channel reports. The institutional investor owned 11,350 shares of the specialty retailer’s stock after buying an additional 753 shares during the period. American International Group Inc.’s holdings in West Marine were worth $108,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Hancock Holding Co. acquired a new position in shares of West Marine during the first quarter valued at approximately $186,000. Teachers Advisors LLC boosted its position in shares of West Marine by 8.1% in the fourth quarter. Teachers Advisors LLC now owns 34,502 shares of the specialty retailer’s stock valued at $361,000 after buying an additional 2,583 shares in the last quarter. First Quadrant L P CA boosted its position in shares of West Marine by 219.4% in the first quarter. First Quadrant L P CA now owns 46,546 shares of the specialty retailer’s stock valued at $444,000 after buying an additional 31,974 shares in the last quarter. Oxford Asset Management acquired a new position in shares of West Marine during the first quarter valued at approximately $539,000. Finally, Acadian Asset Management LLC boosted its position in shares of West Marine by 507.6% in the first quarter. Acadian Asset Management LLC now owns 93,605 shares of the specialty retailer’s stock valued at $893,000 after buying an additional 78,199 shares in the last quarter. 61.87% of the stock is currently owned by institutional investors.
West Marine, Inc. (NASDAQ:WMAR) opened at 12.87 on Thursday. West Marine, Inc. has a 52 week low of $7.77 and a 52 week high of $13.01. The company has a 50-day moving average of $12.22 and a 200-day moving average of $10.33. The company has a market capitalization of $325.34 million, a PE ratio of 40.73 and a beta of 1.31.
COPYRIGHT VIOLATION NOTICE: This piece was originally published by Ticker Report and is the property of of Ticker Report. If you are reading this piece on another publication, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The correct version of this piece can be viewed at https://www.tickerreport.com/banking-finance/2798637/american-international-group-inc-acquires-753-shares-of-west-marine-inc-wmar.html.
WMAR has been the topic of several recent research reports. TheStreet raised shares of West Marine from a “c+” rating to a “b” rating in a report on Thursday, April 27th. B. Riley reissued a “buy” rating and issued a $12.00 price objective on shares of West Marine in a research note on Tuesday, May 2nd. BidaskClub raised shares of West Marine from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Forward View raised shares of West Marine from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Finally, Zacks Investment Research cut shares of West Marine from a “buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Five research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus target price of $9.99.
About West Marine
West Marine, Inc is a waterlife outfitter for cruisers, sailors, anglers and paddlesports enthusiasts. The Company offers a selection of core boating and water recreation products, primarily serving the needs of boat owners and professionals providing services to them. It services its customers through physical stores and two e-commerce Websites.
Want to see what other hedge funds are holding WMAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for West Marine, Inc. (NASDAQ:WMAR).
Receive News & Ratings for West Marine Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for West Marine Inc. and related companies with MarketBeat.com's FREE daily email newsletter.