Beach Investment Management Lifted Bank Of America (BAC) Holding by $386,280; Wynnefield Capital Boosted Great Lakes Dredge & Dock Co (GLDD) Stake by $2.11 Million; Stock Price Declined

May 24, 2018 - By Adrian Mccoy

Bank of America Corporation (NYSE:BAC) Logo

Nelson Obus increased its stake in Great Lakes Dredge & Dock Co (GLDD) by 39.22% based on its latest 2017Q4 regulatory filing with the SEC. Wynnefield Capital Inc bought 421,155 shares as the company’s stock declined 20.37% with the market. The hedge fund run by Nelson Obus held 1.50 million shares of the military and government and technical company at the end of 2017Q4, valued at $8.07M, up from 1.07M at the end of the previous reported quarter. Wynnefield Capital Inc who had been investing in Great Lakes Dredge & Dock Co for a number of months, seems to be bullish on the $298.69 million market cap company. It closed at $4.8 lastly. It is down 1.18% since May 24, 2017 and is uptrending. It has underperformed by 10.37% the S&P500.

Beach Investment Management Llc increased its stake in Bank Of America (BAC) by 24.39% based on its latest 2017Q4 regulatory filing with the SEC. Beach Investment Management Llc bought 13,320 shares as the company’s stock declined 1.20% with the market. The institutional investor held 67,940 shares of the major banks company at the end of 2017Q4, valued at $2.01M, up from 54,620 at the end of the previous reported quarter. Beach Investment Management Llc who had been investing in Bank Of America for a number of months, seems to be bullish on the $304.04 billion market cap company. The stock decreased 1.49% or $0.454 during the last trading session, reaching $29.986. About 21.28 million shares traded. Bank of America Corporation (NYSE:BAC) has risen 28.18% since May 24, 2017 and is uptrending. It has outperformed by 16.63% the S&P500.

Investors sentiment increased to 1.19 in Q4 2017. Its up 0.15, from 1.04 in 2017Q3. It improved, as 66 investors sold BAC shares while 561 reduced holdings. 162 funds opened positions while 585 raised stakes. 6.85 billion shares or 0.98% less from 6.91 billion shares in 2017Q3 were reported. Stearns Fin Svcs Group has 0.3% invested in Bank of America Corporation (NYSE:BAC) for 42,543 shares. Pinnacle Wealth Mngmt Advisory Grp Inc Ltd Limited Liability Company owns 7,089 shares for 0.12% of their portfolio. Moreover, Intact Invest Mngmt has 0.04% invested in Bank of America Corporation (NYSE:BAC). Yorktown Mngmt Research stated it has 71,000 shares. Cadence National Bank & Trust Na owns 16,217 shares for 0.18% of their portfolio. Atria Ltd Liability Corp has 0.19% invested in Bank of America Corporation (NYSE:BAC). Point72 Asset Mgmt Limited Partnership has 0% invested in Bank of America Corporation (NYSE:BAC). 221,273 are owned by Da Davidson. Patten & Patten Tn reported 252,113 shares. Old Mutual Customised Solutions (Proprietary) Limited stated it has 0.61% of its portfolio in Bank of America Corporation (NYSE:BAC). Tiedemann Wealth Management Limited Liability Corp holds 0.1% or 44,578 shares. Perkins Coie Trust Com stated it has 0.04% in Bank of America Corporation (NYSE:BAC). Carlson Cap stated it has 7,002 shares or 0.06% of all its holdings. Moreover, First Quadrant LP Ca has 0.44% invested in Bank of America Corporation (NYSE:BAC). Sol Capital Mngmt holds 169,129 shares.

More notable recent Bank of America Corporation (NYSE:BAC) news were published by: Seekingalpha.com which released: “Bank of America (BAC) Investor Presentation – Slideshow” on April 26, 2018, also Bizjournals.com with their article: “Banking Roundup: Wells Fargo hit by reports of altered documents… BofA rolls out AI assistant Erica” published on May 23, 2018, Seekingalpha.com published: “Bank of America affirms gun pledge” on May 11, 2018. More interesting news about Bank of America Corporation (NYSE:BAC) were released by: Seekingalpha.com and their article: “Financial sector the winner today” published on May 22, 2018 as well as Usatoday.com‘s news article titled: “Management, competition: Two important reasons Warren Buffett reads annual reports” with publication date: May 23, 2018.

Among 33 analysts covering Bank of America (NYSE:BAC), 22 have Buy rating, 0 Sell and 11 Hold. Therefore 67% are positive. Bank of America had 114 analyst reports since July 21, 2015 according to SRatingsIntel. The firm has “Buy” rating by Raymond James given on Tuesday, December 5. The rating was upgraded by Robert W. Baird on Tuesday, September 1 to “Buy”. The company was upgraded on Tuesday, September 8 by Nomura. The company was maintained on Sunday, July 23 by Renaissance Macro Securities LLC. The firm has “Buy” rating given on Tuesday, June 6 by Jefferies. The rating was downgraded by Citigroup to “Neutral” on Tuesday, April 4. Deutsche Bank maintained it with “Buy” rating and $17 target in Tuesday, January 26 report. Keefe Bruyette & Woods downgraded Bank of America Corporation (NYSE:BAC) on Monday, May 16 to “Market Perform” rating. Citigroup maintained Bank of America Corporation (NYSE:BAC) rating on Tuesday, July 19. Citigroup has “Buy” rating and $17 target. The stock of Bank of America Corporation (NYSE:BAC) has “Overweight” rating given on Wednesday, November 1 by JP Morgan.

More recent Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) news were published by: Nasdaq.com which released: “Great Lakes Dredge & Dock Corporation Schedules Announcement of 2018 First Quarter Results” on April 25, 2018. Also Bizjournals.com published the news titled: “Leading Tampa Bay businesswoman takes on new role” on May 14, 2018. Globenewswire.com‘s news article titled: “Great Lakes Reports First Quarter Results” with publication date: May 02, 2018 was also an interesting one.

Since May 10, 2018, it had 1 insider buy, and 0 sales for $7,620 activity.

Investors sentiment decreased to 1.13 in Q4 2017. Its down 0.29, from 1.42 in 2017Q3. It is negative, as 6 investors sold GLDD shares while 32 reduced holdings. 16 funds opened positions while 27 raised stakes. 42.92 million shares or 3.98% more from 41.27 million shares in 2017Q3 were reported. State Street invested in 0% or 1.02M shares. Stonebridge Mngmt has invested 0.02% in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD). Ameriprise Financial Inc, Minnesota-based fund reported 650,475 shares. Metropolitan Life Ins Ny reported 11,476 shares. 8,100 were reported by Great West Life Assurance Can. Balyasny Asset Ltd Liability Corp has 27,800 shares. Geode Capital Mgmt Lc holds 460,841 shares. Strs Ohio holds 0% or 13,600 shares in its portfolio. Amer Int Gp invested 0% in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD). Citadel Advsrs Limited Liability Company owns 57,963 shares for 0% of their portfolio. State Board Of Administration Of Florida Retirement invested in 0% or 72,967 shares. Moreover, Falcon Point Ltd Liability Co has 0.11% invested in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) for 120,609 shares. Royal Comml Bank Of Canada reported 0% stake. Barclays Public Ltd Company reported 0% stake. Tiaa Cref Investment Management Limited Co owns 146,925 shares for 0% of their portfolio.

Among 4 analysts covering Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD), 3 have Buy rating, 0 Sell and 1 Hold. Therefore 75% are positive. Great Lakes Dredge & Dock Corporation had 7 analyst reports since October 19, 2015 according to SRatingsIntel. DA Davidson maintained Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) on Friday, August 5 with “Neutral” rating. Stephens upgraded the shares of GLDD in report on Friday, March 18 to “Overweight” rating. Imperial Capital maintained the shares of GLDD in report on Wednesday, November 4 with “Outperform” rating. The firm has “Outperform” rating by Imperial Capital given on Wednesday, February 24.

Bank of America Corporation (NYSE:BAC) Institutional Positions Chart

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