Echo Street Capital Management Llc Decreased Abaxis (ABAX) Stake By $13.68 Million; 3 Analysts Covering First Foundation Inc. (FFWM)

May 18, 2018 - By Louis Casey

Abaxis, Inc. (NASDAQ:ABAX) Logo

Among 4 analysts covering First Foundation (NASDAQ:FFWM), 3 have Buy rating, 0 Sell and 1 Hold. Therefore 75% are positive. First Foundation had 12 analyst reports since October 23, 2015 according to SRatingsIntel. The company was downgraded on Tuesday, December 20 by FBR Capital. FBR Capital maintained First Foundation Inc. (NASDAQ:FFWM) rating on Tuesday, December 19. FBR Capital has “Buy” rating and $21.0 target. FBR Capital maintained it with “Buy” rating and $22.0 target in Thursday, February 1 report. The stock of First Foundation Inc. (NASDAQ:FFWM) earned “Buy” rating by Sandler O’Neill on Thursday, March 29. On Friday, July 29 the stock rating was maintained by FBR Capital with “Outperform”. The rating was maintained by FBR Capital on Friday, October 28 with “Outperform”. FBR Capital initiated the shares of FFWM in report on Friday, July 1 with “Outperform” rating. The rating was upgraded by FBR Capital on Thursday, June 22 to “Outperform”. The stock has “Buy” rating by FBR Capital on Monday, July 17. See First Foundation Inc. (NASDAQ:FFWM) latest ratings:

29/03/2018 Broker: Sandler O’Neill Rating: Buy New Target: $21.0000 Maintain
01/02/2018 Broker: FBR Capital Rating: Buy New Target: $22.0 Maintain
19/12/2017 Broker: FBR Capital Rating: Buy New Target: $21.0 Maintain

Echo Street Capital Management Llc decreased Abaxis Inc (NASDAQ:ABAX) stake by 40.11% reported in 2018Q1 SEC filing. Echo Street Capital Management Llc sold 195,437 shares as Abaxis Inc (NASDAQ:ABAX)’s stock rose 40.60%. The Echo Street Capital Management Llc holds 291,767 shares with $20.61 million value, down from 487,204 last quarter. Abaxis Inc now has $1.90B valuation. The stock increased 0.46% or $0.38 during the last trading session, reaching $83.72. About 1.09 million shares traded or 378.48% up from the average. Abaxis, Inc. (NASDAQ:ABAX) has risen 44.47% since May 18, 2017 and is uptrending. It has outperformed by 32.92% the S&P500.

Since January 30, 2018, it had 0 insider purchases, and 10 insider sales for $2.85 million activity. On Tuesday, March 6 the insider SINGH PRITHIPAL sold $140,500. WOOD DONALD PETER had sold 10,000 shares worth $689,851 on Tuesday, March 6. 4,400 shares were sold by Henkel Achim, worth $304,953 on Tuesday, March 6. The insider EVENHUIS HENK sold 4,500 shares worth $333,460. On Wednesday, January 31 TOCKMAN CRAIG sold $122,652 worth of Abaxis, Inc. (NASDAQ:ABAX) or 1,650 shares. CASEY MICHAEL D had sold 5,000 shares worth $355,327 on Thursday, March 8. ARON KENNETH sold $98,266 worth of stock or 1,412 shares.

Among 11 analysts covering Abaxis (NASDAQ:ABAX), 1 have Buy rating, 2 Sell and 8 Hold. Therefore 9% are positive. Abaxis has $90.0 highest and $39 lowest target. $58.43’s average target is -30.21% below currents $83.72 stock price. Abaxis had 33 analyst reports since July 23, 2015 according to SRatingsIntel. The stock of Abaxis, Inc. (NASDAQ:ABAX) has “Sell” rating given on Friday, July 22 by Feltl & Co. The firm earned “Buy” rating on Thursday, July 23 by Canaccord Genuity. The stock has “Neutral” rating by CL King on Friday, April 1. The stock of Abaxis, Inc. (NASDAQ:ABAX) earned “Hold” rating by Canaccord Genuity on Thursday, November 12. The firm earned “Hold” rating on Monday, October 23 by Stifel Nicolaus. The firm earned “Hold” rating on Friday, October 27 by Canaccord Genuity. The stock has “Hold” rating by Canaccord Genuity on Tuesday, June 13. Bank of America maintained Abaxis, Inc. (NASDAQ:ABAX) rating on Thursday, February 8. Bank of America has “Underperform” rating and $48 target. Bank of America maintained Abaxis, Inc. (NASDAQ:ABAX) rating on Wednesday, August 23. Bank of America has “Underperform” rating and $42 target. The company was downgraded on Wednesday, May 16 by Sidoti.

Abaxis, Inc. develops, manufactures, markets, and sells portable blood analysis systems for use in human or veterinary patient care settings to provide rapid blood constituent measurements for clinicians worldwide. The company has market cap of $1.90 billion. It operates in two divisions, Medical Market and Veterinary Market. It has a 77.52 P/E ratio. The firm offers Piccolo chemistry analyzers with rapid blood constituent measurements for use in human patient care; and Piccolo profiles that are single-use medical reagents.

Greg Poole, founder of Echo Street Capital, is a former employee of Goldman Sachs. He focuses his tactics on special situations, event driven, the real estate sector, and traditional long and short strategies. Echo Street Capital Management Llc is a New York-based hedge fund that was founded by Greg Poole. It had more than $2.68 billion assets under management in November, 2014. Taken from Echo Street Capital Management latest Adv, the fund reported to have 10 full and part-time employees. Among which 9 performing investment advisory and research functions. The hedge fund had between 1-10 clients.

Investors sentiment decreased to 1.27 in Q4 2017. Its down 0.05, from 1.32 in 2017Q3. It worsened, as 12 investors sold ABAX shares while 40 reduced holdings. 25 funds opened positions while 41 raised stakes. 21.66 million shares or 0.81% less from 21.83 million shares in 2017Q3 were reported. Stonehearth Ltd has invested 0.01% of its portfolio in Abaxis, Inc. (NASDAQ:ABAX). Commercial Bank Of Montreal Can owns 5,629 shares or 0% of their US portfolio. invested in 0% or 17,534 shares. Victory Capital Management stated it has 4,024 shares. Hutchin Hill Capital Lp invested in 0.1% or 7,600 shares. Tiaa Cref Invest Mgmt Ltd Liability holds 67,755 shares or 0% of its portfolio. Glenmede Na has invested 0% in Abaxis, Inc. (NASDAQ:ABAX). Tiverton Asset Mngmt Lc invested 0.17% in Abaxis, Inc. (NASDAQ:ABAX). Comerica Commercial Bank reported 23,938 shares. Laurion Capital Mngmt Limited Partnership reported 9,091 shares. Bahl & Gaynor accumulated 16,058 shares. State Street Corp accumulated 0% or 602,582 shares. Rockefeller Fincl reported 0.15% in Abaxis, Inc. (NASDAQ:ABAX). State Board Of Administration Of Florida Retirement System has invested 0% in Abaxis, Inc. (NASDAQ:ABAX). Ami Asset Management holds 0.61% or 179,870 shares in its portfolio.

Since February 2, 2018, it had 0 insider buys, and 10 selling transactions for $2.24 million activity. 16,746 First Foundation Inc. (NASDAQ:FFWM) shares with value of $306,117 were sold by FIX WARREN D. BRIGGS MAX sold $101,379 worth of stock or 5,305 shares. Shares for $409,420 were sold by LARSEN GERALD L. on Wednesday, April 4. The insider KELLER ULRICH E. JR sold 10,000 shares worth $184,000. Shares for $202,824 were sold by HAKOPIAN JOHN on Wednesday, March 7.

More recent First Foundation Inc. (NASDAQ:FFWM) news were published by: Businesswire.com which released: “First Foundation Advisors Appoints Raymond Mow as Managing Director of Fixed Income” on May 17, 2018. Also Globenewswire.com published the news titled: “Factors of Influence in 2018, Key Indicators and Opportunity within NetScout, Entegris, Pinnacle Entertainment, First …” on May 03, 2018. Streetinsider.com‘s news article titled: “First Foundation (FFWM) Misses Q1 EPS by 3c, Miss on Revenues” with publication date: April 24, 2018 was also an interesting one.

The stock increased 0.80% or $0.15 during the last trading session, reaching $18.89. About 55,937 shares traded. First Foundation Inc. (NASDAQ:FFWM) has risen 18.77% since May 18, 2017 and is uptrending. It has outperformed by 7.22% the S&P500.

First Foundation Inc., through its subsidiaries, provides personalized financial services to individuals, businesses, and other organizations in the United States. The company has market cap of $738.19 million. It operates in two divisions, Banking; and Investment Management and Wealth Planning. It has a 24.22 P/E ratio. The firm offers a range of bank deposit products, including personal and business checking accounts, savings accounts, interest-bearing negotiable order of withdrawal accounts, money market accounts, and time certificates of deposit; and loan products consisting of multifamily and single family residential real estate loans, commercial real estate loans, and commercial term loans and lines of credit, as well as consumer loans, such as personal installment loans and lines of credit, and home equity lines of credit.

Investors sentiment decreased to 2.21 in 2017 Q4. Its down 0.92, from 3.13 in 2017Q3. It worsened, as 6 investors sold First Foundation Inc. shares while 18 reduced holdings. 14 funds opened positions while 39 raised stakes. 19.43 million shares or 47.61% less from 37.09 million shares in 2017Q3 were reported. American Intl Gru Inc has invested 0% in First Foundation Inc. (NASDAQ:FFWM). 4,368 are owned by Parallax Volatility Advisers L P. Eidelman Virant Cap holds 0.55% or 50,550 shares in its portfolio. Tcw Grp owns 0.01% invested in First Foundation Inc. (NASDAQ:FFWM) for 45,299 shares. Moreover, Cornerstone Management Holdings Ltd Llc has 0.01% invested in First Foundation Inc. (NASDAQ:FFWM). Renaissance Ltd Llc owns 0.01% invested in First Foundation Inc. (NASDAQ:FFWM) for 256,396 shares. Wells Fargo & Com Mn holds 0% or 106,122 shares in its portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) holds 1,320 shares or 0% of its portfolio. Tiaa Cref Inv Mngmt Llc has invested 0% in First Foundation Inc. (NASDAQ:FFWM). Trexquant Invest L P stated it has 0.04% of its portfolio in First Foundation Inc. (NASDAQ:FFWM). Moreover, Cadence Cap Llc has 0.13% invested in First Foundation Inc. (NASDAQ:FFWM). Credit Suisse Ag, a Switzerland-based fund reported 20,816 shares. 3,394 were reported by Northwestern Mutual Wealth Mngmt. Prudential Finance holds 0% or 33,510 shares in its portfolio. California State Teachers Retirement System stated it has 46,969 shares or 0% of all its holdings.

First Foundation Inc. (NASDAQ:FFWM) Institutional Positions Chart

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