Covanta Holding (CVA) Shareholder Snyder Capital Management LP Trimmed Its Stake by $1.91 Million as Shares Declined; Spectrum Pharmaceuticals (SPPI) Shareholder Consonance Capital Management LP Has Decreased Its Stake by $23.86 Million as Stock Declined

April 18, 2018 - By Kurt Siggers

Covanta Holding Corporation (NYSE:CVA) Logo

Mitchell Blutt decreased its stake in Spectrum Pharmaceuticals Inc (SPPI) by 15.22% based on its latest 2017Q4 regulatory filing with the SEC. Consonance Capital Management Lp sold 1.33M shares as the company’s stock declined 9.64% with the market. The hedge fund run by Mitchell Blutt held 7.38M shares of the health care company at the end of 2017Q4, valued at $139.92 million, down from 8.71M at the end of the previous reported quarter. Consonance Capital Management Lp who had been investing in Spectrum Pharmaceuticals Inc for a number of months, seems to be less bullish one the $1.98 billion market cap company. The stock decreased 2.06% or $0.41 during the last trading session, reaching $19.48. About 939,283 shares traded. Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) has risen 143.80% since April 18, 2017 and is uptrending. It has outperformed by 132.25% the S&P500.

Snyder Capital Management LP decreased its stake in Covanta Holding Corp (CVA) by 5.58% based on its latest 2017Q4 regulatory filing with the SEC. Snyder Capital Management LP sold 119,285 shares as the company’s stock declined 15.45% with the market. The institutional investor held 2.02M shares of the central company at the end of 2017Q4, valued at $34.09 million, down from 2.14M at the end of the previous reported quarter. Snyder Capital Management LP who had been investing in Covanta Holding Corp for a number of months, seems to be less bullish one the $2.00B market cap company. The stock increased 0.32% or $0.05 during the last trading session, reaching $15.45. About 539,207 shares traded. Covanta Holding Corporation (NYSE:CVA) has declined 4.92% since April 18, 2017 and is downtrending. It has underperformed by 16.47% the S&P500.

Analysts await Covanta Holding Corporation (NYSE:CVA) to report earnings on April, 26 after the close. They expect $-0.21 earnings per share, up 43.24% or $0.16 from last year’s $-0.37 per share. After $0.09 actual earnings per share reported by Covanta Holding Corporation for the previous quarter, Wall Street now forecasts -333.33% negative EPS growth.

Snyder Capital Management L P, which manages about $2.16 billion and $2.01 billion US Long portfolio, upped its stake in Servicemaster Global Holding (NYSE:SERV) by 32,278 shares to 184,110 shares, valued at $9.44 million in 2017Q4, according to the filing. It also increased its holding in Hostess Brands Inc. by 218,073 shares in the quarter, for a total of 1.63M shares, and has risen its stake in Amphenol Corp. Cl A (NYSE:APH).

Among 12 analysts covering Covanta (NYSE:CVA), 8 have Buy rating, 0 Sell and 4 Hold. Therefore 67% are positive. Covanta had 50 analyst reports since October 8, 2015 according to SRatingsIntel. On Monday, May 15 the stock rating was upgraded by Robert W. Baird to “Outperform”. Robert W. Baird maintained it with “Buy” rating and $17.0 target in Friday, September 1 report. Barclays Capital maintained the shares of CVA in report on Thursday, November 19 with “Equal-Weight” rating. On Thursday, December 10 the stock rating was maintained by Imperial Capital with “Outperform”. Credit Suisse initiated Covanta Holding Corporation (NYSE:CVA) on Friday, November 6 with “Neutral” rating. The firm has “Outperform” rating given on Wednesday, January 20 by Oppenheimer. The rating was downgraded by Barclays Capital to “Equal Weight” on Thursday, January 19. The stock of Covanta Holding Corporation (NYSE:CVA) earned “Equal-Weight” rating by Barclays Capital on Tuesday, August 9. The rating was downgraded by Stifel Nicolaus to “Hold” on Monday, February 13. The stock of Covanta Holding Corporation (NYSE:CVA) earned “Hold” rating by Stifel Nicolaus on Monday, December 7.

Consonance Capital Management Lp, which manages about $513.80M and $1.11 billion US Long portfolio, upped its stake in Pacific Biosciences Calif In (NASDAQ:PACB) by 164,492 shares to 7.07 million shares, valued at $18.65 million in 2017Q4, according to the filing. It also increased its holding in Pacira Pharmaceuticals Inc (NASDAQ:PCRX) by 222,200 shares in the quarter, for a total of 1.60 million shares, and has risen its stake in La Jolla Pharmaceutical Co (NASDAQ:LJPC).

Investors sentiment decreased to 1.63 in Q4 2017. Its down 1.21, from 2.84 in 2017Q3. It dropped, as 26 investors sold SPPI shares while 28 reduced holdings. 27 funds opened positions while 61 raised stakes. 78.22 million shares or 9.25% more from 71.60 million shares in 2017Q3 were reported. Brown Advisory Securities Ltd Liability Corp holds 0.09% of its portfolio in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) for 25,000 shares. Ameriprise Financial Inc has invested 0% of its portfolio in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI). Cornerstone Cap Holdg Ltd Co reported 0.01% stake. Geode Management Ltd Liability reported 811,847 shares. 152,270 were accumulated by Arizona State Retirement System. Lazard Asset Management Ltd Llc invested in 0% or 49,641 shares. Georgia-based Voya Invest Mngmt Limited Liability Co has invested 0% in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI). Macquarie has 435,866 shares. 146,991 were reported by Prudential Inc. State Of Tennessee Treasury Department accumulated 0.01% or 71,534 shares. Virginia Retirement Et Al has invested 0% of its portfolio in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI). Parkside Bancorp & stated it has 0% in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI). Group Inc One Trading LP has 4,375 shares for 0% of their portfolio. Hap Trading Limited Liability Corp has 0.03% invested in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) for 31,733 shares. California State Teachers Retirement has invested 0.01% in Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI).

Since March 21, 2018, it had 0 insider purchases, and 13 sales for $6.83 million activity. GUSTAFSON KURT A sold 1,300 shares worth $22,594. 4,810 shares were sold by Turgeon Joseph W., worth $78,884 on Wednesday, March 28. The insider Krassner Stuart Mitchell sold $78,278. $3,830 worth of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) was sold by Riga Thomas J on Monday, March 26.

Analysts await Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) to report earnings on May, 1. They expect $-0.28 earnings per share, down 55.56% or $0.10 from last year’s $-0.18 per share. After $-0.29 actual earnings per share reported by Spectrum Pharmaceuticals, Inc. for the previous quarter, Wall Street now forecasts -3.45% EPS growth.

Among 6 analysts covering Spectrum Pharma (NASDAQ:SPPI), 6 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Spectrum Pharma had 12 analyst reports since August 7, 2015 according to SRatingsIntel. The rating was maintained by FBR Capital on Tuesday, April 10 with “Buy”. Jefferies maintained the stock with “Buy” rating in Thursday, August 24 report. The rating was reinitiated by H.C. Wainwright on Wednesday, August 16 with “Buy”. On Friday, August 7 the stock rating was maintained by RBC Capital Markets with “Outperform”. The rating was upgraded by Zacks to “Hold” on Thursday, August 27. Jefferies maintained the stock with “Buy” rating in Friday, February 10 report. On Monday, October 9 the stock rating was maintained by Jefferies with “Buy”. As per Wednesday, June 7, the company rating was maintained by Jefferies. The stock of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) has “Outperform” rating given on Thursday, November 5 by RBC Capital Markets.

Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) Institutional Positions Chart

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By1 Kurt Siggers

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