BlueMountain Capital Management LLC Buys New Position in YRC Worldwide Inc (YRCW)
BlueMountain Capital Management LLC acquired a new stake in shares of YRC Worldwide Inc (NASDAQ:YRCW) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 44,492 shares of the transportation company’s stock, valued at approximately $447,000. BlueMountain Capital Management LLC owned about 0.13% of YRC Worldwide as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Sei Investments Co. lifted its position in shares of YRC Worldwide by 15.7% during the second quarter. Sei Investments Co. now owns 109,669 shares of the transportation company’s stock valued at $1,102,000 after buying an additional 14,849 shares during the last quarter. Deprince Race & Zollo Inc. increased its holdings in YRC Worldwide by 66.7% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 30,000 shares of the transportation company’s stock worth $302,000 after buying an additional 12,000 shares during the period. Ontario Teachers Pension Plan Board acquired a new position in YRC Worldwide in the 2nd quarter worth approximately $372,000. Acadian Asset Management LLC increased its holdings in YRC Worldwide by 67.7% in the 2nd quarter. Acadian Asset Management LLC now owns 40,817 shares of the transportation company’s stock worth $410,000 after buying an additional 16,480 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its holdings in YRC Worldwide by 8.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 279,585 shares of the transportation company’s stock worth $2,810,000 after buying an additional 21,334 shares during the period. Institutional investors and hedge funds own 78.17% of the company’s stock.
YRCW stock traded down $0.09 during midday trading on Friday, reaching $8.57. The stock had a trading volume of 493,158 shares, compared to its average volume of 676,235. YRC Worldwide Inc has a 52-week low of $8.07 and a 52-week high of $17.61. The company has a debt-to-equity ratio of -2.51, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market capitalization of $305.78 million, a P/E ratio of 57.13 and a beta of 3.65.
Several equities analysts recently weighed in on YRCW shares. Loop Capital began coverage on shares of YRC Worldwide in a report on Monday, October 1st. They issued a “buy” rating and a $18.00 price target on the stock. Deutsche Bank raised shares of YRC Worldwide from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Tuesday, August 21st. ValuEngine lowered YRC Worldwide from a “hold” rating to a “sell” rating in a research report on Wednesday, June 27th. BidaskClub lowered YRC Worldwide from a “hold” rating to a “sell” rating in a research report on Wednesday, August 1st. Finally, Stifel Nicolaus decreased their target price on YRC Worldwide from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, August 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $16.80.
About YRC Worldwide
YRC Worldwide Inc, through its subsidiaries, provides various transportation services primarily in North America. Its YRC Freight segment offers various services to transport industrial, commercial, and retail goods; and provides specialized services, including guaranteed expedited services, time-specific deliveries, cross-border services, coast-to-coast air delivery, product returns, temperature-sensitive shipment protection, and government material shipments.
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