Miracle Mile Advisors LLC, a prominent investment firm, has recently acquired a new stake in The Brink’s Company (NYSE: BCO) during the second quarter of this year. According to the company’s most recent Form 13F filing with the Securities and Exchange Commission, Miracle Mile Advisors purchased 3,194 shares of the business services provider’s stock, which holds an approximate value of $217,000.
Brink’s is a well-established business services provider listed on the New York Stock Exchange (NYSE) under the ticker symbol “BCO.” It recently announced its quarterly earnings results on Wednesday, August 9th. Unfortunately for investors and analysts alike, Brink’s reported an earnings per share (EPS) of $1.18 for the quarter, falling short of the consensus estimate of $1.33 by $0.15.
Despite missing projections for EPS, Brink’s does boast a healthy return on equity (ROE) of 50.85% and a net margin of 2.40%. In terms of revenue, the company recorded an impressive figure of $1.22 billion for the quarter, surpassing initial estimates which pegged it at around $1.21 billion. When comparing these numbers to the same period last year, it is evident that Brink’s experienced a growth rate of 7.2%.
Market analysts have weighed in on Brink’s recent performance and prospects for future success. StockNews.com raised its rating for Brink’s from “buy” to “strong-buy” in a research report published just after the earnings announcement in early August. Additionally, The Goldman Sachs Group has boosted its price objective on Brink’s shares from $81.00 to $92.00 while maintaining a “buy” rating for investors who are looking at long-term gains.
Looking ahead into the fiscal year-end forecast, equities analysts anticipate that The Brink’s Company will generate an EPS of 6.8. These predictions depict a positive outlook for the company and reaffirm investor confidence in its long-term potential.
Miracle Mile Advisors’ recent acquisition of Brink’s shares and the endorsements from market analysts further validate the company as an attractive investment option within the business services sector. Potential investors should closely monitor any developments or updates regarding Brink’s to make informed decisions regarding their portfolios.
In conclusion, Miracle Mile Advisors has acquired a new stake in The Brink’s Company, contributing to the company’s ongoing success in the market. While Brink’s may have fallen slightly short of earnings expectations for its most recent quarter, it still maintains a robust ROE and continues to demonstrate steady revenue growth. With positive ratings from analysts, this investment opportunity becomes even more compelling for those looking to venture into the business services sector.
The Brink's Company
BCO
Strong Buy
Updated on: 03/12/2023
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
Investment Firm Miracle Mile Advisors Acquires Stake in The Brink’s Company, Despite Earnings Miss
In recent months, there have been significant changes to the positions held by institutional investors and hedge funds in the business services provider, Brink’s (NYSE:BCO). Boston Partners, for example, reported an 87.9% growth in its holdings during the first quarter, increasing its shares by 581,941. This resulted in a valuation of $82,308,000 for Boston Partners’ investments in the company.
Norges Bank also joined the bandwagon by acquiring a new position in Brink’s during the fourth quarter of the previous year. The value of this new position was estimated at $19,268,000. FMR LLC wasn’t far behind either; it increased its holdings by 8.2% during the first quarter and now owns 4,377,871 shares valued at $292,442,000.
Fuller & Thaler Asset Management Inc. also demonstrated confidence in Brink’s by lifting its position in the company’s stock by 7.8%. As a result of this move made during the fourth quarter of last year, Fuller & Thaler Asset Management Inc. now owns 3,676,858 shares worth $197,484,000.
Goldman Sachs Group Inc., too waded into the realm of Brink’s investments when it lifted its position by an impressive 77.2% during the second quarter. This translated to Goldman Sachs Group Inc.’s ownership of 443,376 shares with a value of $26,918 each.
It is important to note that institutional investors and hedge funds currently own approximately 94.96% of Brink’s stock.
Director Arthelbert Louis Parker made headlines recently when he sold 1,650 shares of Brink’s stock on Thursday, August 24th. The average price per share was recorded as $74.00 resulting in total earnings of $122,100 for Parker. Following this sale, Parker’s direct ownership in the company amounts to 3,036 shares with an approximate value of $224,664.
These transactions were disclosed through a document filed with the Securities & Exchange Commission (SEC), which can be accessed on the SEC website. Currently, company insiders own 2.65% of Brink’s stock.
NYSE:BCO opened at $72.60 on Friday. The company’s stock has been operating at a 50-day moving average price of $73.17 and a two-hundred day moving average price of $68.76. Brink’s Company has demonstrated a debt-to-equity ratio of 4.89 along with a current and quick ratio of 1.55 each. In terms of its performance over the past year, Brink’s stock has experienced a low point of $48.38 and a high point of $77.47.
With regards to market capitalization, Brink’s currently stands at $3.37 billion while boasting a price-to-earnings (PE) ratio of 30.25 and displaying a beta coefficient of 1.34.
Overall, these recent developments in institutional investments and hedge funds’ positions in Brink’s highlight growing interest and confidence in the business services provider within the financial industry. As investors and market watchers continue to closely monitor these changes, it remains to be seen how these shifts will impact Brink’s future prospects and performance in the market.
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