TIG Advisors LLC Purchases New Stake in Cray Inc. (NASDAQ:CRAY)

TIG Advisors LLC purchased a new stake in Cray Inc. (NASDAQ:CRAY) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 703,902 shares of the technology company’s stock, valued at approximately $24,510,000. Cray makes up approximately 1.1% of TIG Advisors LLC’s portfolio, making the stock its 17th largest position. TIG Advisors LLC owned 1.70% of Cray at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund lifted its holdings in Cray by 1.9% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 16,116 shares of the technology company’s stock valued at $561,000 after acquiring an additional 300 shares during the last quarter. Mason Street Advisors LLC lifted its holdings in Cray by 3.5% in the 1st quarter. Mason Street Advisors LLC now owns 13,132 shares of the technology company’s stock valued at $342,000 after acquiring an additional 450 shares during the last quarter. Piedmont Investment Advisors Inc. lifted its holdings in Cray by 5.4% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 10,239 shares of the technology company’s stock valued at $267,000 after acquiring an additional 529 shares during the last quarter. Arizona State Retirement System lifted its holdings in Cray by 1.3% in the 2nd quarter. Arizona State Retirement System now owns 63,882 shares of the technology company’s stock valued at $2,224,000 after acquiring an additional 804 shares during the last quarter. Finally, Aperio Group LLC lifted its holdings in Cray by 9.6% in the 2nd quarter. Aperio Group LLC now owns 9,455 shares of the technology company’s stock valued at $329,000 after acquiring an additional 828 shares during the last quarter. 93.26% of the stock is currently owned by hedge funds and other institutional investors.

CRAY stock traded down $0.01 during mid-day trading on Friday, reaching $34.97. 48,818 shares of the stock traded hands, compared to its average volume of 366,624. The company has a current ratio of 2.89, a quick ratio of 2.14 and a debt-to-equity ratio of 0.14. Cray Inc. has a 52-week low of $18.76 and a 52-week high of $36.64. The company has a market cap of $1.45 billion, a P/E ratio of -24.62 and a beta of 0.83. The stock’s fifty day moving average is $34.82 and its 200-day moving average is $31.68.

Cray (NASDAQ:CRAY) last posted its quarterly earnings data on Friday, August 2nd. The technology company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.12). Cray had a negative net margin of 27.17% and a negative return on equity of 26.31%. The firm had revenue of $68.70 million for the quarter, compared to analysts’ expectations of $72.15 million. Equities research analysts expect that Cray Inc. will post -2.29 earnings per share for the current year.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Cray from a “hold” rating to a “sell” rating in a report on Friday, August 9th. BidaskClub lowered shares of Cray from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 10th. Finally, TheStreet lowered shares of Cray from a “c-” rating to a “d” rating in a research note on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Cray presently has an average rating of “Hold” and a consensus target price of $33.00.

Cray Profile

Cray Inc, together with its subsidiaries, designs, develops, manufactures, markets, and services computing products for high-performance computing, data analytics, and AI markets. It operates through Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other segments.

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Institutional Ownership by Quarter for Cray (NASDAQ:CRAY)

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