Clearline Capital LP purchased a new stake in shares of McDermott International Inc (NYSE:MDR) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,359,076 shares of the oil and gas company’s stock, valued at approximately $8,943,000. McDermott International comprises about 4.6% of Clearline Capital LP’s portfolio, making the stock its 9th biggest holding.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of McDermott International by 93.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,937 shares of the oil and gas company’s stock valued at $111,000 after acquiring an additional 8,176 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of McDermott International during the 3rd quarter valued at about $112,000. Icon Wealth Partners LLC purchased a new stake in shares of McDermott International during the 4th quarter valued at about $115,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of McDermott International during the 4th quarter valued at about $118,000. Finally, Ellington Management Group LLC purchased a new stake in shares of McDermott International during the 4th quarter valued at about $147,000. 97.73% of the stock is currently owned by hedge funds and other institutional investors.
McDermott International Inc (MDR) opened at $7.72 on Tuesday. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.29. The stock has a market cap of $2,190.00, a P/E ratio of 8.39 and a beta of 1.68. McDermott International Inc has a 1-year low of $5.56 and a 1-year high of $9.07.
A number of brokerages have recently issued reports on MDR. Alembic Global Advisors set a $11.00 price target on shares of McDermott International and gave the company a “buy” rating in a report on Thursday, February 22nd. Deutsche Bank dropped their price target on shares of McDermott International from $9.30 to $8.30 and set a “hold” rating on the stock in a report on Thursday, February 22nd. Zacks Investment Research downgraded shares of McDermott International from a “hold” rating to a “sell” rating in a report on Monday, January 8th. Morgan Stanley reaffirmed a “sell” rating on shares of McDermott International in a report on Wednesday, December 20th. Finally, ValuEngine downgraded shares of McDermott International from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 15th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. McDermott International has an average rating of “Hold” and an average price target of $9.01.
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McDermott International Profile
McDermott International, Inc is a provider of integrated engineering, procurement, construction and installation (EPCI), front-end engineering and design (FEED) and module fabrication services for upstream field developments across the world. The Company delivers fixed and floating production facilities, pipeline installations and subsea systems from concept to commissioning for offshore and subsea oil and gas projects.
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