Craft Brew Alliance Inc (NASDAQ:BREW) Shares Bought by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA raised its position in shares of Craft Brew Alliance Inc (NASDAQ:BREW) by 53,180.0% in the first quarter, Holdings Channel reports. The fund owned 2,664 shares of the company’s stock after acquiring an additional 2,659 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Craft Brew Alliance were worth $37,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in BREW. Cannell Capital LLC raised its holdings in shares of Craft Brew Alliance by 34.3% during the fourth quarter. Cannell Capital LLC now owns 832,102 shares of the company’s stock valued at $11,907,000 after acquiring an additional 212,551 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Craft Brew Alliance by 11.2% during the third quarter. Vanguard Group Inc. now owns 542,929 shares of the company’s stock valued at $8,877,000 after acquiring an additional 54,590 shares during the last quarter. Noked Capital LTD acquired a new position in shares of Craft Brew Alliance during the fourth quarter valued at approximately $575,000. TIAA CREF Investment Management LLC raised its holdings in shares of Craft Brew Alliance by 94.6% during the third quarter. TIAA CREF Investment Management LLC now owns 51,812 shares of the company’s stock valued at $847,000 after acquiring an additional 25,186 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan acquired a new position in shares of Craft Brew Alliance during the fourth quarter valued at approximately $333,000. 36.75% of the stock is owned by institutional investors and hedge funds.
NASDAQ:BREW opened at $13.70 on Thursday. Craft Brew Alliance Inc has a one year low of $13.15 and a one year high of $21.00. The company has a quick ratio of 0.72, a current ratio of 1.13 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $269.48 million, a P/E ratio of 1,388.00 and a beta of 0.46.
BREW has been the subject of several recent research reports. BidaskClub cut Craft Brew Alliance from a “sell” rating to a “strong sell” rating in a report on Thursday, March 14th. TheStreet cut Craft Brew Alliance from a “b-” rating to a “c+” rating in a report on Friday, March 22nd. Zacks Investment Research cut Craft Brew Alliance from a “hold” rating to a “sell” rating in a report on Tuesday, March 12th. Finally, Maxim Group initiated coverage on Craft Brew Alliance in a report on Friday, May 3rd. They issued a “buy” rating and a $21.00 price target for the company. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Craft Brew Alliance presently has a consensus rating of “Hold” and an average price target of $20.67.
In related news, Director Nickolas A. Mills sold 2,610 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $15.28, for a total value of $39,880.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.80% of the stock is currently owned by company insiders.
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Craft Brew Alliance Profile
Craft Brew Alliance, Inc brews and sells craft beers and ciders in the United States and internationally. It operates through two segments, Beer Related Operations and Brewpubs Operations. It offers beers under the Kona, Omission, Appalachian Mountain, Cisco, Redhook, Widmer Brothers, and Wynwood brands; and ciders under the Square Mile brand name.
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