Charles Schwab Investment Managem.. recently announced the acquisition of new stake in CBL & Associates Properties Inc. (NYSE:CBL). The institutional investor has increased its shareholding in the Real Estate company by 91.30% to 13.72 million shares with purchase of 6.55 million shares. This fresh investment now brings its stake to 7.15% valued currently at $2.51 million. In addition, Renaissance Technologies LLC raised its holdings by 1.68 million to 7.0 million shares. And Millennium Management LLC has lifted its position by 34,251.20% or 5.26 million shares – to 5.28 million shares.
With over 3.99 million CBL & Associates Properties Inc. (CBL) shares trading Friday and a closing price of $0.19 on the day, the dollar volume was approximately $0.76 million. The shares have shown a negative weekly performance of -1.56% and its price on 08/28/20 gained nearly 2.89%. Currently, there are 191.96M common shares owned by the public and among those 157.96M 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: 5 analysts who have offered their price forecasts for CBL have a consensus price objective of $0.20. The analysts have set the share’s price value over the next 12 months at a high of $0.25 and a low of $0.15 should the stock experience a downside. Incidentally, analysts’ outlook for the CBL & Associates Properties Inc. stock is 4.20 for the next 12 months. But an upside of 24.0% will see the stock hit the forecast high price target while mean target price for the stock is $0.20.
Insiders at the company have transacted a total of 45 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 31 of these insider trades were purchases, accounting for 38,157,990 shares. Insider sales of the common stock occurred on 14 occasions, with total insider shares sold totaling 562,405 shares.
The top 3 mutual fund holders in CBL & Associates Properties Inc. are Schwab Fundamental US Small Compa, Contrarius ICAV – Global Equity F, and Vanguard Total Stock Market Index. Schwab Fundamental US Small Compa owns 7.99 million shares of the company’s stock, all valued at over $1.46 million. The company sold 4621.0 shares recently to bring their total holdings to about 4.16% of the shares outstanding. Contrarius ICAV – Global Equity F bought 1.11 million shares to see its total holdings expand to 7.96 million shares valued at over $1.46 million and representing 4.15% of the shares outstanding. Vanguard Total Stock Market Index now owns shares totaling to 2.33% of the shares outstanding.
Shares of CBL & Associates Properties Inc. (NYSE: CBL) opened at $0.186, up $0.01 from a prior closing price of $0.18. However, the script later closed the day at $0.19, up 2.89%. The company’s stock has a 5-day price change of -1.56% and -30.67% over the past three months. CBL shares are trading -82.00% year to date (YTD), with the 12-month market performance down to -79.24% lower. It has a 12-month low price of $0.14 and touched a high of $1.78 over the same period. Currently, 3.99 million shares have been traded, compared to an average intraday trading volume of 19.75 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 -7.70%, -19.26%, and -65.10% respectively.
Institutional ownership of CBL & Associates Properties Inc. (NYSE: CBL) shares accounts for 38.40% of the company’s 191.96M shares outstanding. Mutual fund holders own 20.50%, while other institutional holders and individual stakeholders account for 21.10% and 17.31% respectively.
It has a market capitalization of $35.70M and a beta (3y monthly) value of 2.55. The earnings-per-share (ttm) stands at -$1.56. The company has a debt-to-equity ratio at 5.99. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.08% over the week and 15.94% over the month.
Analysts forecast that CBL & Associates Properties Inc. (CBL) will achieve an EPS of -$0.19 for the current quarter, -$0.16 for the next quarter and -$0.55 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.32 while analysts give the company a high EPS estimate of -$0.07. Comparatively, EPS for the current quarter was -$0.26 a year ago. Earnings per share for the fiscal year are expected to decrease by -23.80%, and 59.00% over the next financial year. EPS should grow at an annualized rate of 4.90% over the next five years, compared to -23.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate CBL & Associates Properties Inc. (CBL) as a “Moderate Sell” at a consensus score of 4.20. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 0 of the 5 advise that investors “hold,” and 4 rated it as a “Sell.”
Looking at the support for the CBL, a number of firms have released research notes about the stock. BTIG Research stated their Neutral rating for the stock in a research note on May 31, 2019, with the firm’s price target at. JP Morgan coverage for the CBL & Associates Properties Inc. (CBL) stock in a research note released on December 19, 2018 offered a Underweight rating with a price target of. Jefferies was of a view on December 21, 2017 that the stock is Underperform, while Raymond James gave the stock Underperform rating on December 20, 2017, issuing a price target of. Citigroup on their part issued Sell rating on December 14, 2017.