Wedge Capital Management L LP Has Decreased Dover (DOV) Position By $3.17 Million; Emcore (EMKR) Has 1.1 Sentiment

February 15, 2018 - By Moses P. Lee

Wedge Capital Management L LP decreased Dover Corporation (DOV) stake by 1.94% reported in 2017Q3 SEC filing. Wedge Capital Management L LP sold 34,846 shares as Dover Corporation (DOV)’s stock rose 4.00%. The Wedge Capital Management L LP holds 1.76 million shares with $160.70 million value, down from 1.79M last quarter. Dover Corporation now has $15.40 billion valuation. The stock increased 1.60% or $1.57 during the last trading session, reaching $99.69. About 1.18M shares traded or 9.84% up from the average. Dover Corporation (NYSE:DOV) has risen 29.68% since February 15, 2017 and is uptrending. It has outperformed by 12.98% the S&P500.

EMCORE Corporation, together with its subsidiaries, designs, makes, and sells indium phosphide optical chips, components, subsystems, and systems for the broadband and specialty fiber optics market worldwide. The company has market cap of $141.44 million. It offers DFB laser modules and diodes, laser and avalanche chips, optical receivers, and broadband photodiodes for use in telecommunication, cable television, fiber-to-the-premises, defense and homeland security, satellite communication and broadcast, and professional audio/video applications. It has a 17.28 P/E ratio. The firm sells its products through direct sales force, application engineers, third party sales representatives, and distributors.

Since October 23, 2017, it had 0 insider buys, and 4 insider sales for $5.83 million activity. $624,203 worth of Dover Corporation (NYSE:DOV) was sold by Spurgeon William. The insider Goldberg Paul sold 4,400 shares worth $419,100. STUBBS MICHAEL B had sold 41,505 shares worth $3.97M.

Investors sentiment increased to 1.04 in Q3 2017. Its up 0.13, from 0.91 in 2017Q2. It improved, as 33 investors sold DOV shares while 190 reduced holdings. 76 funds opened positions while 157 raised stakes. 130.20 million shares or 1.96% less from 132.81 million shares in 2017Q2 were reported. Cramer Rosenthal Mcglynn Ltd invested in 2.4% or 1.64 million shares. Lpl Finance Limited Liability Co holds 11,860 shares or 0% of its portfolio. Trexquant Investment Ltd Partnership owns 5,343 shares. Regions Financial holds 0.03% in Dover Corporation (NYSE:DOV) or 30,498 shares. First Quadrant LP Ca holds 8,700 shares or 0.02% of its portfolio. Envestnet Asset invested 0% in Dover Corporation (NYSE:DOV). Verition Fund Limited holds 0.1% or 13,072 shares in its portfolio. Eagle Ridge Management reported 0.08% in Dover Corporation (NYSE:DOV). Oregon Public Employees Retirement Fund holds 0.02% or 16,290 shares in its portfolio. Coldstream Cap accumulated 7,985 shares. King Luther Cap Management owns 2,850 shares. Pennsylvania-based Nationwide Fund has invested 0.06% in Dover Corporation (NYSE:DOV). Pacific Alternative Asset Limited Liability Co owns 0.23% invested in Dover Corporation (NYSE:DOV) for 22,845 shares. Metropolitan Life Ny holds 0.04% of its portfolio in Dover Corporation (NYSE:DOV) for 74,641 shares. North Point Managers Oh stated it has 135,915 shares or 2.1% of all its holdings.

Wedge Capital Management L LP increased Mgm Growth Properties Llc Class A stake by 523,915 shares to 2.14 million valued at $64.53M in 2017Q3. It also upped Del Frisco’s Restaurant Group Inc. (NASDAQ:DFRG) stake by 95,729 shares and now owns 924,850 shares. Sykes Enterprises Incorporated (NASDAQ:SYKE) was raised too.

Among 23 analysts covering Dover (NYSE:DOV), 12 have Buy rating, 0 Sell and 11 Hold. Therefore 52% are positive. Dover had 94 analyst reports since July 22, 2015 according to SRatingsIntel. The rating was maintained by Barclays Capital on Monday, October 5 with “Equal-Weight”. The rating was upgraded by J.P. Morgan to “Buy” on Wednesday, September 20. IBC maintained Dover Corporation (NYSE:DOV) on Thursday, May 25 with “Hold” rating. UBS downgraded the stock to “Sell” rating in Wednesday, January 13 report. The stock of Dover Corporation (NYSE:DOV) has “Neutral” rating given on Monday, October 9 by Citigroup. The rating was maintained by Stifel Nicolaus on Friday, September 1 with “Hold”. The company was maintained on Sunday, December 10 by Stifel Nicolaus. As per Friday, October 7, the company rating was initiated by Susquehanna. The firm has “Hold” rating given on Wednesday, January 31 by Susquehanna. On Friday, July 21 the stock rating was maintained by Stifel Nicolaus with “Hold”.

Ratings analysis reveals 100% of Emcore’s analysts are positive. Out of 2 Wall Street analysts rating Emcore, 2 give it “Buy”, 0 “Sell” rating, while 0 recommend “Hold”. The lowest target is $7.5 while the high is $12.0. The stock’s average target of $9.75 is 87.50% above today’s ($5.2) share price. EMKR was included in 2 notes of analysts from October 20, 2016. The firm earned “Buy” rating on Wednesday, February 8 by Lake Street. The rating was initiated by Dougherty & Company with “Buy” on Thursday, October 20.

P.A.W. Capital Corp holds 2.75% of its portfolio in EMCORE Corporation for 320,000 shares. Rk Capital Management Llc owns 1.12 million shares or 2.13% of their US portfolio. Moreover, S Squared Technology Llc has 2.1% invested in the company for 303,044 shares. The Oregon-based Orca Investment Management Llc has invested 2.06% in the stock. Millrace Asset Group Inc., a Pennsylvania-based fund reported 239,682 shares.

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By1 Moses P. Lee

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