Cubic Co. (CUB) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its stake in Cubic Co. (NYSE:CUB) by 89.3% during the second quarter, HoldingsChannel reports. The firm owned 5,200 shares of the scientific and technical instruments company’s stock after selling 43,600 shares during the quarter. Renaissance Technologies LLC’s holdings in Cubic were worth $334,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. LPL Financial LLC boosted its position in Cubic by 19.7% during the 1st quarter. LPL Financial LLC now owns 4,904 shares of the scientific and technical instruments company’s stock worth $312,000 after buying an additional 808 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Cubic during the 2nd quarter worth approximately $340,000. Aperio Group LLC boosted its position in Cubic by 69.9% during the 2nd quarter. Aperio Group LLC now owns 7,932 shares of the scientific and technical instruments company’s stock worth $509,000 after buying an additional 3,262 shares during the period. SG Americas Securities LLC boosted its position in Cubic by 33.9% during the 2nd quarter. SG Americas Securities LLC now owns 12,716 shares of the scientific and technical instruments company’s stock worth $816,000 after buying an additional 3,217 shares during the period. Finally, NJ State Employees Deferred Compensation Plan boosted its position in Cubic by 40.0% during the 2nd quarter. NJ State Employees Deferred Compensation Plan now owns 14,000 shares of the scientific and technical instruments company’s stock worth $899,000 after buying an additional 4,000 shares during the period. Institutional investors and hedge funds own 96.21% of the company’s stock.

Cubic stock opened at $69.37 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.22 and a quick ratio of 1.76. Cubic Co. has a 52-week low of $52.00 and a 52-week high of $77.35. The company has a market cap of $1.84 billion, a price-to-earnings ratio of -169.20 and a beta of 1.13.

In other news, Director David F. Melcher purchased 1,000 shares of the stock in a transaction on Friday, September 14th. The stock was purchased at an average price of $74.50 per share, for a total transaction of $74,500.00. Following the acquisition, the director now owns 2,000 shares in the company, valued at $149,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David H. Buss sold 2,917 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $74.00, for a total transaction of $215,858.00. The disclosure for this sale can be found here. 7.90% of the stock is currently owned by company insiders.

Several research firms recently commented on CUB. ValuEngine downgraded shares of Cubic from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 1st. Drexel Hamilton reiterated a “buy” rating and set a $85.00 target price on shares of Cubic in a research report on Thursday, August 30th. Zacks Investment Research upgraded shares of Cubic from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Finally, Canaccord Genuity lifted their target price on shares of Cubic from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, August 9th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $73.17.

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About Cubic

Cubic Corporation provides various integrated solutions worldwide. Its solutions enhance the situational understanding for transportation, defense, and training customers, as well as for command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) customers. The company operates through four segments: Cubic Transportation Systems (CTS), Cubic Global Defense Systems (CGD Systems), Cubic Mission Solutions (CMS), and Cubic Global Defense Services (CGD Services).

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Institutional Ownership by Quarter for Cubic (NYSE:CUB)

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