Pinnacle Associates Ltd. cut its holdings in Vodafone Group Plc (NASDAQ:VOD) by 4.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 255,840 shares of the cell phone carrier’s stock after selling 12,980 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Vodafone Group were worth $5,552,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Palo Capital Inc. purchased a new stake in Vodafone Group during the 3rd quarter valued at $126,000. Bessemer Group Inc. increased its position in shares of Vodafone Group by 149.8% in the second quarter. Bessemer Group Inc. now owns 5,321 shares of the cell phone carrier’s stock valued at $129,000 after buying an additional 3,191 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Vodafone Group by 722.6% in the second quarter. Tower Research Capital LLC TRC now owns 5,462 shares of the cell phone carrier’s stock valued at $133,000 after buying an additional 4,798 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Vodafone Group in the second quarter worth approximately $143,000. Finally, NumerixS Investment Technologies Inc acquired a new stake in shares of Vodafone Group in the second quarter worth approximately $153,000. 9.85% of the stock is currently owned by hedge funds and other institutional investors.
Vodafone Group stock opened at $19.72 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.27 and a current ratio of 1.30. Vodafone Group Plc has a fifty-two week low of $18.45 and a fifty-two week high of $32.75.
VOD has been the topic of several recent analyst reports. Cfra raised Vodafone Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 13th. Bank of America cut Vodafone Group from a “buy” rating to a “neutral” rating in a research report on Thursday, August 30th. BidaskClub raised Vodafone Group from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 31st. Jefferies Financial Group downgraded Vodafone Group from a “buy” rating to a “hold” rating in a research note on Monday, October 8th. Finally, Sanford C. Bernstein raised Vodafone Group from a “market perform” rating to an “outperform” rating and set a $40.00 target price for the company in a research note on Tuesday, September 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $33.36.
COPYRIGHT VIOLATION WARNING: “Vodafone Group Plc (VOD) Shares Sold by Pinnacle Associates Ltd.” was originally reported by WKRB News and is owned by of WKRB News. If you are accessing this story on another domain, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this story can be viewed at https://www.wkrb13.com/2018/11/26/vodafone-group-plc-vod-shares-sold-by-pinnacle-associates-ltd.html.
Vodafone Group Company Profile
Vodafone Group Plc engages in telecommunication services in Europe, Africa, the Middle East, and the Asia Pacific. The company's consumer products include mobile services, such as call, text, and data; broadband; television offerings and voice; mobile money services through M-pesa; Giga TV, an advanced digital service; and converged communication solutions, such as GigaKombi, Vodafone One Net Enterprise, Vodafone One, and Vodafone Meet Anywhere.
Further Reading: Fiduciary
Want to see what other hedge funds are holding VOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vodafone Group Plc (NASDAQ:VOD).
Receive News & Ratings for Vodafone Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vodafone Group and related companies with MarketBeat.com's FREE daily email newsletter.