Zacks Investment Research downgraded shares of Amira Nature Foods (NYSE:ANFI) from a buy rating to a hold rating in a research note issued to investors on Monday morning.
According to Zacks, “Amira Nature Foods Ltd. provides packaged Indian specialty rice. The Company sells Basmati rice, premium long-grain rice under their flagship Amira brand as well as under other third party brands. It participates across the entire rice supply chain from the procurement of paddy to its storage, aging, processing into rice, packaging, distribution and marketing. Amira Nature Foods Ltd. is headquartered in Dubai, United Arab Emirates. “
Separately, Jefferies Group reiterated a buy rating and set a $8.00 target price on shares of Amira Nature Foods in a research report on Tuesday, September 26th.
A number of hedge funds have recently modified their holdings of the stock. Pinnacle Associates Ltd. increased its position in Amira Nature Foods by 48.4% in the 2nd quarter. Pinnacle Associates Ltd. now owns 218,967 shares of the company’s stock valued at $1,213,000 after acquiring an additional 71,450 shares during the period. Wells Fargo & Company MN acquired a new position in Amira Nature Foods in the 3rd quarter valued at about $210,000. Nationwide Fund Advisors acquired a new position in Amira Nature Foods in the 3rd quarter valued at about $182,000. Ameriprise Financial Inc. increased its position in Amira Nature Foods by 30.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,130 shares of the company’s stock valued at $566,000 after acquiring an additional 23,630 shares during the period. Finally, GSA Capital Partners LLP increased its position in Amira Nature Foods by 104.2% in the 2nd quarter. GSA Capital Partners LLP now owns 36,836 shares of the company’s stock valued at $204,000 after acquiring an additional 18,800 shares during the period. Hedge funds and other institutional investors own 13.01% of the company’s stock.
Amira Nature Foods Company Profile
Amira Nature Foods Ltd is primarily engaged in the business of processing and selling packaged Indian specialty rice, primarily basmati rice and other food products. The Company sells Basmati rice and other specialty rice, under its Amira brand, as well as under other third-party brands. It also sells non-basmati rice.
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