ClearAlpha Technologies LP Sells 1,246 Shares of The Brink’s Company (NYSE:BCO)

ClearAlpha Technologies LP lowered its stake in The Brink’s Company (NYSE:BCO) by 30.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,826 shares of the business services provider’s stock after selling 1,246 shares during the period. ClearAlpha Technologies LP’s holdings in Brink’s were worth $327,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. LSV Asset Management increased its stake in shares of Brink’s by 15,919.2% in the second quarter. LSV Asset Management now owns 800,961 shares of the business services provider’s stock worth $82,018,000 after buying an additional 795,961 shares during the period. Wasatch Advisors LP purchased a new position in shares of Brink’s in the third quarter valued at about $59,308,000. Fiera Capital Corp purchased a new position in shares of Brink’s in the third quarter valued at about $27,460,000. Swedbank AB purchased a new stake in shares of Brink’s during the second quarter worth about $7,700,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Brink’s by 36.8% during the second quarter. Renaissance Technologies LLC now owns 234,000 shares of the business services provider’s stock worth $23,962,000 after purchasing an additional 63,000 shares during the period. Institutional investors own 94.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BCO. StockNews.com upgraded Brink’s from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. Truist Financial decreased their price objective on shares of Brink’s from $144.00 to $138.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $120.50.

Brink’s Stock Up 0.5 %

NYSE:BCO opened at $96.71 on Monday. The Brink’s Company has a 1-year low of $78.13 and a 1-year high of $115.91. The company has a market capitalization of $4.22 billion, a PE ratio of 36.63 and a beta of 1.44. The firm’s 50-day moving average price is $104.30 and its 200-day moving average price is $103.97. The company has a debt-to-equity ratio of 8.76, a current ratio of 1.57 and a quick ratio of 1.57.

Brink’s (NYSE:BCO) last announced its earnings results on Wednesday, November 6th. The business services provider reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.28). Brink’s had a net margin of 2.37% and a return on equity of 71.46%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the prior year, the business posted $1.92 EPS. Brink’s’s revenue for the quarter was down 3.4% on a year-over-year basis. On average, equities analysts predict that The Brink’s Company will post 6.51 EPS for the current fiscal year.

Brink’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be issued a $0.2425 dividend. This represents a $0.97 annualized dividend and a yield of 1.00%. The ex-dividend date is Monday, November 4th. Brink’s’s dividend payout ratio (DPR) is 36.74%.

Insiders Place Their Bets

In other news, EVP James K. Parks sold 4,000 shares of Brink’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $96.51, for a total value of $386,040.00. Following the completion of the transaction, the executive vice president now owns 11,103 shares of the company’s stock, valued at $1,071,550.53. The trade was a 26.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.49% of the company’s stock.

About Brink’s

The Brink's Company provides secure transportation, cash management, and other security-related services in North America, Latin America, Europe, and internationally. The company offers armored vehicle transportation of valuables; automated teller machine (ATM) management services, such as cash replenishment, cash forecasting, cash optimization, ATM remote monitoring, service call dispatching, transaction processing, installation, and first line maintenance services; and cash-in-transit services.