Starboard Value LP Maintains Stake in Macerich Co (MAC); As Bancolombia Sa (CIB) Market Valuation Rose, Inca Investments Cut Position by $8.19 Million

May 22, 2018 - By Richard Conner

Bancolombia S.A. (NYSE:CIB) Logo

Jeffrey Smith increased its stake in Macerich Co (MAC) by 20% based on its latest 2017Q4 regulatory filing with the SEC. Starboard Value Lp bought 100,000 shares as the company’s stock declined 14.88% with the market. The hedge fund run by Jeffrey Smith held 600,000 shares of the real estate investment trusts company at the end of 2017Q4, valued at $39.41 million, up from 500,000 at the end of the previous reported quarter. Starboard Value Lp who had been investing in Macerich Co for a number of months, seems to be bullish on the $8.35B market cap company. The stock increased 0.55% or $0.3 during the last trading session, reaching $55.14. About 1.04 million shares traded. Macerich Company (NYSE:MAC) has declined 12.03% since May 22, 2017 and is downtrending. It has underperformed by 23.58% the S&P500.

Inca Investments Llc decreased its stake in Bancolombia Sa (CIB) by 16.83% based on its latest 2017Q4 regulatory filing with the SEC. Inca Investments Llc sold 210,100 shares as the company’s stock rose 5.83% while stock markets declined. The institutional investor held 1.04 million shares of the commercial banks company at the end of 2017Q4, valued at $41.19 million, down from 1.25 million at the end of the previous reported quarter. Inca Investments Llc who had been investing in Bancolombia Sa for a number of months, seems to be less bullish one the $43.52 billion market cap company. The stock increased 0.44% or $0.2 during the last trading session, reaching $45.25. About 539,370 shares traded or 11.49% up from the average. Bancolombia S.A. (NYSE:CIB) has risen 6.47% since May 22, 2017 and is uptrending. It has underperformed by 5.08% the S&P500.

Starboard Value Lp, which manages about $2.57B and $4.09B US Long portfolio, decreased its stake in Baxter Intl Inc (NYSE:BAX) by 162,500 shares to 1.19M shares, valued at $77.08M in 2017Q4, according to the filing. It also reduced its holding in Envision Healthcare Corp by 61,641 shares in the quarter, leaving it with 2.57 million shares, and cut its stake in Altaba Inc.

More notable recent Macerich Company (NYSE:MAC) news were published by: Seekingalpha.com which released: “Macerich: Takeover Target?” on May 21, 2018, also Streetinsider.com with their article: “Loeb’s Third Point LLC Enters Adobe (ADBE), EA (EA), Wynn (WYN) (more…) – 13F” published on May 15, 2018, Streetinsider.com published: “Starboard’s 13F Shows New Stake in Newell Rubbermaid (NWL), Increase in Forest City (FCE-A), Macerich (MAC …” on May 15, 2018. More interesting news about Macerich Company (NYSE:MAC) were released by: Seekingalpha.com and their article: “Macerich’s (MAC) CEO Art Coppola on Q1 2018 Results – Earnings Call Transcript” published on May 05, 2018 as well as Bizjournals.com‘s news article titled: “EXCLUSIVE: Popular fashion designer bringing boutique to Scottsdale Fashion Square” with publication date: May 18, 2018.

Investors sentiment increased to 1.09 in Q4 2017. Its up 0.14, from 0.95 in 2017Q3. It increased, as 28 investors sold MAC shares while 106 reduced holdings. 56 funds opened positions while 90 raised stakes. 135.39 million shares or 0.30% more from 134.98 million shares in 2017Q3 were reported. Pub Employees Retirement Of Ohio invested 0.06% in Macerich Company (NYSE:MAC). Kempen Mgmt Nv accumulated 78,378 shares. Honeywell Intl, a New Jersey-based fund reported 25,199 shares. Panagora Asset stated it has 11,959 shares. Alabama-based Andra Ap has invested 0.05% in Macerich Company (NYSE:MAC). Fort Washington Invest Advisors Oh invested in 3,100 shares. Pensionfund Dsm Netherlands reported 0.22% of its portfolio in Macerich Company (NYSE:MAC). Ontario Teachers Pension Plan Board has 18.83% invested in Macerich Company (NYSE:MAC). Registered Invest Advisor Inc reported 6,790 shares. 161,535 were reported by Stifel Fincl Corp. Lnd And Buildings Mngmt Limited Liability Com has invested 6.16% in Macerich Company (NYSE:MAC). Comml Bank Of America De holds 0% or 110,549 shares in its portfolio. Pictet Asset holds 66,382 shares. Employees Retirement Sys Of Texas stated it has 0.09% of its portfolio in Macerich Company (NYSE:MAC). Moreover, Louisiana State Employees Retirement System has 0.02% invested in Macerich Company (NYSE:MAC) for 6,600 shares.

Among 24 analysts covering The Macerich Company (NYSE:MAC), 8 have Buy rating, 2 Sell and 14 Hold. Therefore 33% are positive. The Macerich Company had 67 analyst reports since July 21, 2015 according to SRatingsIntel. The stock of Macerich Company (NYSE:MAC) earned “Hold” rating by Evercore on Tuesday, September 8. Goldman Sachs downgraded the stock to “Sell” rating in Friday, March 17 report. The firm earned “Underperform” rating on Monday, December 11 by Evercore. The firm has “Buy” rating given on Thursday, September 17 by Zacks. The stock of Macerich Company (NYSE:MAC) has “Buy” rating given on Thursday, September 28 by KeyBanc Capital Markets. The stock of Macerich Company (NYSE:MAC) has “Neutral” rating given on Wednesday, April 6 by Boenning & Scattergood. The rating was maintained by Deutsche Bank with “Hold” on Monday, March 21. The company was maintained on Monday, July 17 by Jefferies. The firm has “Neutral” rating given on Tuesday, March 27 by JP Morgan. Deutsche Bank maintained Macerich Company (NYSE:MAC) rating on Friday, February 9. Deutsche Bank has “Hold” rating and $62 target.

Another recent and important Bancolombia S.A. (NYSE:CIB) news was published by Seekingalpha.com which published an article titled: “Bancolombia’s (CIB) CEO Juan Carlos Mora on Q1 2018 Results – Earnings Call Transcript” on May 16, 2018.

Among 12 analysts covering Bancolombia S.A. (NYSE:CIB), 2 have Buy rating, 4 Sell and 6 Hold. Therefore 17% are positive. Bancolombia S.A. had 25 analyst reports since July 23, 2015 according to SRatingsIntel. The firm earned “Buy” rating on Monday, August 17 by Standpoint Research. Citigroup downgraded the shares of CIB in report on Tuesday, January 9 to “Sell” rating. The rating was upgraded by JP Morgan to “Overweight” on Thursday, July 23. Credit Suisse downgraded Bancolombia S.A. (NYSE:CIB) on Thursday, October 6 to “Neutral” rating. The rating was downgraded by Barclays Capital to “Underweight” on Thursday, December 3. The stock of Bancolombia S.A. (NYSE:CIB) has “Accumulate” rating given on Wednesday, March 7 by Standpoint Research. The rating was downgraded by UBS on Wednesday, March 16 to “Sell”. The stock has “Underweight” rating by Barclays Capital on Thursday, March 24. Morgan Stanley upgraded the stock to “Overweight” rating in Tuesday, December 13 report. As per Monday, August 22, the company rating was upgraded by Deutsche Bank.

Macerich Company (NYSE:MAC) Institutional Positions Chart

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