Highland Capital Management LP lessened its stake in shares of Corelogic Inc (NYSE:CLGX) by 38.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,620 shares of the business services provider’s stock after selling 2,830 shares during the quarter. Highland Capital Management LP’s holdings in Corelogic were worth $240,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in CLGX. BlackRock Inc. lifted its stake in shares of Corelogic by 0.9% during the 2nd quarter. BlackRock Inc. now owns 7,195,143 shares of the business services provider’s stock worth $373,426,000 after purchasing an additional 61,325 shares during the period. Bessemer Group Inc. lifted its stake in shares of Corelogic by 1.3% during the 2nd quarter. Bessemer Group Inc. now owns 2,998,767 shares of the business services provider’s stock worth $155,636,000 after purchasing an additional 38,138 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Corelogic by 26.7% during the 1st quarter. JPMorgan Chase & Co. now owns 2,525,118 shares of the business services provider’s stock worth $114,211,000 after purchasing an additional 532,291 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Corelogic by 7.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,606,317 shares of the business services provider’s stock worth $72,654,000 after purchasing an additional 114,464 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Corelogic by 15.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,252,662 shares of the business services provider’s stock worth $65,013,000 after purchasing an additional 168,931 shares during the period. Hedge funds and other institutional investors own 92.50% of the company’s stock.
In related news, Director Paul F. Folino sold 3,400 shares of the stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $49.28, for a total value of $167,552.00. Following the completion of the sale, the director now directly owns 11,002 shares in the company, valued at approximately $542,178.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mary Lee Widener sold 625 shares of the stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $48.19, for a total value of $30,118.75. Following the completion of the sale, the director now owns 9,319 shares of the company’s stock, valued at $449,082.61. The disclosure for this sale can be found here. Insiders sold a total of 31,975 shares of company stock worth $1,586,247 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.
A number of research analysts have weighed in on the company. Wells Fargo & Co increased their price target on Corelogic from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, June 25th. Wolfe Research assumed coverage on Corelogic in a research note on Tuesday, July 17th. They set an “outperform” rating on the stock. ValuEngine lowered Corelogic from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. Piper Jaffray Companies reduced their price target on Corelogic from $56.00 to $51.00 and set a “neutral” rating on the stock in a research note on Friday, July 27th. Finally, Zacks Investment Research raised Corelogic from a “hold” rating to a “strong-buy” rating and set a $58.00 price target on the stock in a research note on Friday, July 27th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $50.11.
Shares of CLGX traded down $0.58 during trading hours on Friday, hitting $46.92. The stock had a trading volume of 386,527 shares, compared to its average volume of 444,765. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.72. The firm has a market capitalization of $4.00 billion, a P/E ratio of 24.06, a price-to-earnings-growth ratio of 1.85 and a beta of 0.60. Corelogic Inc has a 12-month low of $42.00 and a 12-month high of $55.79.
Corelogic (NYSE:CLGX) last issued its earnings results on Wednesday, July 25th. The business services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.20. The business had revenue of $488.40 million for the quarter, compared to analyst estimates of $476.74 million. Corelogic had a return on equity of 20.14% and a net margin of 9.74%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the company posted $0.72 EPS. Sell-side analysts predict that Corelogic Inc will post 2.43 earnings per share for the current year.
CoreLogic, Inc provides property information, analytics, and data-enabled services in North America, Western Europe, and the Asia Pacific. The company's Property Intelligence segment owns or licenses loan information, property sales and characteristic information, property risk and replacement cost, natural hazard data, geospatial data, parcel maps, and mortgage-backed securities information.
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