Uncovering Institutional Buying In Penn Virginia Corporation (NASDAQ: PVAC)


683 Capital Management LLC recently announced the acquisition of new stake in Penn Virginia Corporation (NASDAQ:PVAC). The institutional investor has increased its shareholding in the Energy company by 143.87% to 1.1 million shares with purchase of 0.65 million shares. This fresh investment now brings its stake to 7.27% valued currently at $10.5 million. In addition, SSgA Funds Management, Inc. raised its holdings by 0.11 million to 0.72 million shares. And Northern Trust Investments, Inc.(… has lifted its position by 3.84% or 16906.0 shares – to 0.46 million shares.

With over 0.74 million Penn Virginia Corporation (PVAC) shares trading Friday and a closing price of $11.36 on the day, the dollar volume was approximately $8.38 million. The shares have shown a positive weekly performance of 18.09% and its price on 07/24/20 gained nearly 2.16%. Currently, there are 15.15M common shares owned by the public and among those 15.01M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for PVAC have a consensus price objective of $13.88. The analysts have set the share’s price value over the next 12 months at a high of $18.00 and a low of $8.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Penn Virginia Corporation stock is 2.30 for the next 12 months. The average price target is 1.22% above its last price level and an upside to the estimated low will see the stock lose -42.0% over that period. But an upside of 36.89% will see the stock hit the forecast high price target while mean target price for the stock is $14.75.

Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.

The top 3 mutual fund holders in Penn Virginia Corporation are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF. iShares Core S&P Small Cap ETF owns 0.83 million shares of the company’s stock, all valued at over $7.93 million. iShares Russell 2000 ETF sold 7740.0 shares to bring its total holdings to over 0.3 million shares at a value of $2.88 million. iShares Russell 2000 ETF now owns shares totaling to 1.99% of the shares outstanding.

Shares of Penn Virginia Corporation (NASDAQ: PVAC) opened at $11.44, up $0.32 from a prior closing price of $11.12. However, the script later closed the day at $11.36, up 2.16%. The company’s stock has a 5-day price change of 18.09% and 166.04% over the past three months. PVAC shares are trading -62.57% year to date (YTD), with the 12-month market performance down to -65.90% lower. It has a 12-month low price of $0.99 and touched a high of $37.12 over the same period. Currently, 0.74 million shares have been traded, compared to an average intraday trading volume of 1.47 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 17.69%, 11.40%, and -29.95% respectively.

Institutional ownership of Penn Virginia Corporation (NASDAQ: PVAC) shares accounts for 88.10% of the company’s 15.15M shares outstanding. Mutual fund holders own 35.94%, while other institutional holders and individual stakeholders account for 50.03% and 26.11% respectively.

It has a market capitalization of $178.81M and a beta (3y monthly) value of 3.93. The stock’s trailing 12-month PE ratio is 0.63, while the earnings-per-share (ttm) stands at $17.97. The company has a PEG of 0.06 and a Quick Ratio of 1.60 with the debt-to-equity ratio at 0.87. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.74% over the week and 10.27% over the month.

Analysts forecast that Penn Virginia Corporation (PVAC) will achieve an EPS of $0.99 for the current quarter, $1.02 for the next quarter and $0.44 for 2021. The lowest estimate earnings-per-share for the quarter is $0.71 while analysts give the company a high EPS estimate of $1.28. Comparatively, EPS for the current quarter was $1.96 a year ago. Earnings per share for the fiscal year are expected to decrease by -68.30%, and -93.71% over the next financial year. EPS should shrink at an annualized rate of 10.00% over the next five years, compared to 22.40% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Penn Virginia Corporation (PVAC) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 1 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the PVAC, a number of firms have released research notes about the stock. SunTrust stated their Buy rating for the stock in a research note on July 24, 2020, with the firm’s price target at . Imperial Capital coverage for the Penn Virginia Corporation (PVAC) stock in a research note released on May 13, 2019 offered a Outperform rating with a price target of $67. Imperial Capital was of a view on April 29, 2019 that the stock is Outperform, while Northland Capital gave the stock Outperform rating on March 22, 2019, issuing a price target of . Ladenburg Thalmann on their part issued Buy rating on July 06, 2018.


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