Proxima Capital Management LLC Sells 101,351 Shares of SunOpta, Inc. (STKL)

Proxima Capital Management LLC trimmed its position in SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) by 46.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,649 shares of the company’s stock after selling 101,351 shares during the period. Proxima Capital Management LLC owned about 0.13% of SunOpta worth $1,169,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Gotham Asset Management LLC purchased a new position in SunOpta in the 2nd quarter valued at about $1,186,000. Janus Henderson Group PLC purchased a new position in SunOpta in the 2nd quarter valued at about $513,000. Picton Mahoney Asset Management lifted its holdings in SunOpta by 19.5% in the 2nd quarter. Picton Mahoney Asset Management now owns 244,750 shares of the company’s stock valued at $2,496,000 after purchasing an additional 40,000 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in SunOpta in the 2nd quarter valued at about $153,000. Finally, Old West Investment Management LLC purchased a new position in SunOpta in the 2nd quarter valued at about $352,000. Institutional investors own 81.94% of the company’s stock.

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In other SunOpta news, CFO Robert Mckeracher sold 36,533 shares of SunOpta stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $8.41, for a total transaction of $307,242.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO John Ruelle sold 38,361 shares of SunOpta stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $8.75, for a total value of $335,658.75. Following the transaction, the chief accounting officer now directly owns 38,361 shares in the company, valued at approximately $335,658.75. The disclosure for this sale can be found here. Insiders own 1.88% of the company’s stock.

A number of research analysts have issued reports on STKL shares. Zacks Investment Research lowered shares of SunOpta from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. BidaskClub lowered shares of SunOpta from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. SunOpta currently has a consensus rating of “Hold” and an average price target of $9.50.

Shares of SunOpta, Inc. (STKL) traded up 1.08% on Friday, hitting $9.40. 34,532 shares of the stock traded hands. SunOpta, Inc. has a one year low of $6.00 and a one year high of $10.20. The stock’s market cap is $813.06 million. The company’s 50 day moving average is $8.65 and its 200 day moving average is $8.67.

SunOpta (NASDAQ:STKL) (TSE:SOY) last released its earnings results on Wednesday, August 9th. The company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.02). SunOpta had a negative net margin of 3.70% and a negative return on equity of 0.70%. The business had revenue of $336.45 million for the quarter, compared to analysts’ expectations of $341.18 million. During the same period last year, the firm earned $0.05 EPS. The company’s revenue was down 3.3% compared to the same quarter last year. On average, equities analysts forecast that SunOpta, Inc. will post $0.02 EPS for the current year.

SunOpta Company Profile

Sunopta Inc is a Canada-based company, which operates businesses focused on a healthy products portfolio. It operates through the following segments: Global Ingredients and Consumer Products. The Global Ingredients segment aggregates its North American and international raw material sourcing and supply operating segments focused on the procurement, processing and sale of specialty and organic grains, seeds, fruits, grain- and cocoa-based ingredients, and other commodities.

Institutional Ownership by Quarter for SunOpta (NASDAQ:STKL)

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