ATI Inc. (NYSE:ATI), a basic materials company, recently saw a decrease in its position by 13.1% from investment firm Duality Advisers LP in the first quarter of the year, according to documents filed with the SEC. The firm sold 9,622 shares during this period, leaving them with ownership of 63,789 shares of ATI’s stock. At the end of the reporting period, Duality Advisers LP’s holdings in ATI were valued at $2,517,000.
In August, ATI announced its quarterly earnings results, reporting earnings per share (EPS) of $0.59 for the quarter. This exceeded analysts’ consensus estimates of $0.55 by $0.04. The company generated revenue of $1.05 billion during the quarter, which matched market expectations.
With regard to profitability indicators, ATI revealed a net margin of 6.88% and a return on equity of 26.99% for the same period. Moving forward, equities analysts anticipate that ATI Inc.’s earnings per share for the current year will be around 2.26.
Various analysts have provided their insights on ATI’s performance lately. KeyCorp raised their price objective on ATI shares from $47.00 to $49 and rated the company as “overweight” in a research note dated August 7th.
StockNews.com started providing coverage on ATI’s shares on August 17th and assigned them a “hold” rating.
Similarly, Northcoast Research began research coverage on September 20th with a “buy” rating and set a target price of $54 per share.
Lastly, Barclays increased their target price from $42 to $51 and maintained an “overweight” rating on ATI shares in a report released on August 8th.
Overall consensus among analysts is generally positive toward ATI Inc., with one analyst giving it a hold rating and six issuing a buy recommendation.
Based on data from Bloomberg, there is a consensus rating of “Moderate Buy” for the stock and an average target price of $49.33.
In conclusion, Duality Advisers LP decreased its position in ATI Inc., a basic materials company, during the first quarter. The subsequent quarterly earnings announcement showed positive results, as ATI exceeded EPS estimates while matching revenue expectations. Several analysts have provided optimistic commentary on ATI’s performance lately, with majority recommending a buy rating.
ATI Inc.
ATI
Strong Buy
Updated on: 05/12/2023
Financial Health
Very Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
The Intrigue Surrounding Hedge Fund Movements and Insider Trading at ATI Inc.
In a surprising turn of events, several hedge funds have recently announced changes to their positions in the company ATI Inc. These movements have left industry experts perplexed and eager to understand the reasoning behind these decisions.
One notable hedge fund, Belpointe Asset Management LLC, has significantly increased its stake in ATI by 65.3% during the first quarter. This move is incredibly puzzling as it goes against the prevailing trend at that time. Belpointe now owns 843 shares of ATI’s stock, with an estimated value of $33,000 after acquiring an additional 333 shares during this period.
Another unexpected move came from Edmond DE Rothschild Holding S.A., which purchased a new stake in ATI valued at approximately $37,000 during the first quarter. This decision raises eyebrows as it contradicts industry expectations and calls for further investigation into Edmond DE Rothschild’s investment strategy.
OLD Mission Capital LLC also surprised market observers by acquiring a new stake in ATI during the fourth quarter of last year valued at around $56,000. Experts are keen to uncover the rationale behind this investment decision and what factors drove OLD Mission Capital to take such action.
Point72 Middle East FZE rounded out the list with its acquisition of a new stake in ATI worth about $75,000 during the same period. This unexpected development has sparked intense curiosity among financial analysts who are searching for possible explanations for this move by Point72 Middle East FZE.
Furthermore, Archer Investment Corp entered the fray by acquiring a new stake in ATI valued at approximately $98,000 during the first quarter. The circumstances surrounding Archer Investment’s decision remain unclear and have generated significant interest within financial circles.
The ongoing intrigue surrounding these hedge funds’ actions takes center stage while we grapple with more baffling news related to insider trading involving ATI Inc. In July, insider Elliot S. Davis sold 7,039 shares of ATI stock for an average price of $45.00, amounting to a total transaction value of $316,755. This disclosure landed this insider in the public eye and has certainly left investors puzzled.
In a similar vein, director James C. Diggs sold 2,674 shares of ATI stock on September 8th at an average price of $44.90, equating to a total transaction value of $120,062.60. The timing and circumstances surrounding this sale have left market observers perplexed as they try to make sense of the motivations behind this decision.
It is worth noting that insiders have collectively sold 29,610 shares of ATI stock over the past ninety days, totaling a staggering $1,296,198. This remarkable amount has further fueled speculation and confusion among industry insiders trying to piece together the intricate puzzle that is unfolding within ATI Inc.
As observers digest these unexpected events surrounding hedge fund activities and insider trading at ATI Inc., it is important to consider the company’s current standing in the market. Despite the enigma surrounding recent developments, shares of ATI on NYSE opened at $45.09 on September 15th with a market capitalization of $5.80 billion.
ATI boasts a PE ratio of 23.12 and a beta of 1.26, indicating its stability within the market despite these confusing turn of events. With a 12-month low of $25.39 and a high of $47.92, it is clear that this company has experienced quite the journey over the past year.
As analysts grapple with questions regarding ATI’s debt-to-equity ratio (currently standing at 1.30), its current ratio (2.74), and quick ratio (1.20), it is evident that more data is required to fully understand where this company stands amidst all the bustiness we are currently witnessing within the financial sector.
In conclusion, these recent changes in hedge funds’ positions and insider trading activities at ATI Inc. have left the financial world in a state of perplexity. The motivations behind these actions remain elusive, and industry experts continue to examine the implications of these developments on the company’s future. However, despite this uncertainty, ATI maintains its position in the market with shares opening at $45.09 on September 15th. As we enter into a new era of investments and market fluctuations, it will be interesting to observe how this situation unfolds in the coming months.
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