Baker Avenue Asset Management LP Trimmed Corning Com (GLW) Stake by $816,044; Stock Value Declined; Rosenblum Silverman Sutton S F Has Increased Position in Gtt Communications (GTT)

May 22, 2018 - By Peter Erickson

Corning Incorporated (NYSE:GLW) Logo

Rosenblum Silverman Sutton S F Inc increased its stake in Gtt Communications (GTT) by 146.96% based on its latest 2017Q4 regulatory filing with the SEC. Rosenblum Silverman Sutton S F Inc bought 46,485 shares as the company’s stock rose 23.24% while stock markets declined. The institutional investor held 78,115 shares of the public utilities company at the end of 2017Q4, valued at $3.67 million, up from 31,630 at the end of the previous reported quarter. Rosenblum Silverman Sutton S F Inc who had been investing in Gtt Communications for a number of months, seems to be bullish on the $2.23 billion market cap company. The stock increased 0.15% or $0.075 during the last trading session, reaching $49.625. About 24,099 shares traded. GTT Communications, Inc. (NYSE:GTT) has risen 131.28% since May 22, 2017 and is uptrending. It has outperformed by 119.73% the S&P500.

Baker Avenue Asset Management Lp decreased its stake in Corning Inc Com (GLW) by 18.92% based on its latest 2017Q4 regulatory filing with the SEC. Baker Avenue Asset Management Lp sold 26,324 shares as the company’s stock declined 14.33% with the market. The institutional investor held 112,830 shares of the telecommunications equipment company at the end of 2017Q4, valued at $3.61 million, down from 139,154 at the end of the previous reported quarter. Baker Avenue Asset Management Lp who had been investing in Corning Inc Com for a number of months, seems to be less bullish one the $23.03 billion market cap company. The stock decreased 0.09% or $0.025 during the last trading session, reaching $27.735. About 373,769 shares traded. Corning Incorporated (NYSE:GLW) has risen 1.20% since May 22, 2017 and is uptrending. It has underperformed by 10.35% the S&P500.

Among 19 analysts covering Corning Incorporated (NYSE:GLW), 5 have Buy rating, 2 Sell and 12 Hold. Therefore 26% are positive. Corning Incorporated had 48 analyst reports since July 30, 2015 according to SRatingsIntel. The stock has “Buy” rating by Goldman Sachs on Tuesday, April 12. Stifel Nicolaus maintained the shares of GLW in report on Thursday, April 13 with “Hold” rating. As per Wednesday, October 28, the company rating was maintained by UBS. The stock has “Sell” rating by Drexel Hamilton on Monday, June 19. On Thursday, August 31 the stock rating was maintained by Jefferies with “Hold”. The rating was downgraded by Bernstein to “Mkt Perform” on Wednesday, February 1. The rating was maintained by Barclays Capital with “Overweight” on Tuesday, September 29. The firm earned “Neutral” rating on Tuesday, January 24 by Bank of America. The stock of Corning Incorporated (NYSE:GLW) earned “Buy” rating by Susquehanna on Friday, July 14. The stock of Corning Incorporated (NYSE:GLW) has “Buy” rating given on Monday, June 20 by Citigroup.

Baker Avenue Asset Management Lp, which manages about $1.13 billion and $1.04 billion US Long portfolio, upped its stake in Abbvie Inc Com (NYSE:ABBV) by 9,346 shares to 27,176 shares, valued at $2.63M in 2017Q4, according to the filing. It also increased its holding in Ishares S&P Small (IJR) by 4,448 shares in the quarter, for a total of 28,175 shares, and has risen its stake in Mallinckrodt Pub Ltd Co Shs (NYSE:MNK).

Since December 14, 2017, it had 1 buying transaction, and 2 selling transactions for $791,057 activity. RIEMAN DEBORAH also sold $66,979 worth of Corning Incorporated (NYSE:GLW) on Thursday, December 14. $887,931 worth of Corning Incorporated (NYSE:GLW) was bought by CANNING JOHN A JR.

Another recent and important Corning Incorporated (NYSE:GLW) news was published by Seekingalpha.com which published an article titled: “Corning -1.4% amid investment-driven swing to loss” on April 24, 2018.

Analysts await Corning Incorporated (NYSE:GLW) to report earnings on July, 25. They expect $0.37 earnings per share, down 11.90% or $0.05 from last year’s $0.42 per share. GLW’s profit will be $307.23 million for 18.74 P/E if the $0.37 EPS becomes a reality. After $0.31 actual earnings per share reported by Corning Incorporated for the previous quarter, Wall Street now forecasts 19.35% EPS growth.

Investors sentiment increased to 0.84 in 2017 Q4. Its up 0.09, from 0.75 in 2017Q3. It increased, as 41 investors sold GLW shares while 340 reduced holdings. 86 funds opened positions while 234 raised stakes. 598.30 million shares or 2.01% less from 610.60 million shares in 2017Q3 were reported. Wedgewood Invsts Pa owns 10,800 shares for 0.28% of their portfolio. Holderness has invested 0.59% of its portfolio in Corning Incorporated (NYSE:GLW). American Rech Management invested in 400 shares. Glenmede Com Na holds 570,783 shares. Fruth Mngmt invested in 0.35% or 26,125 shares. F&V Ltd Limited Liability Company accumulated 4.97% or 299,145 shares. First Interstate Bank & Trust holds 1,532 shares. Legal General Gru Public Limited Company owns 0.12% invested in Corning Incorporated (NYSE:GLW) for 5.01M shares. Gabelli Funds Limited Liability Corporation reported 0.19% in Corning Incorporated (NYSE:GLW). Cambridge invested in 0.06% or 146,713 shares. Baldwin Brothers Incorporated Ma holds 1,520 shares or 0.01% of its portfolio. Drw Secs Ltd Llc invested in 0.04% or 12,192 shares. Amica Retiree owns 6,439 shares or 0.16% of their US portfolio. Dnb Asset Mgmt As owns 97,495 shares. Cornercap Counsel has 134,631 shares.

More recent GTT Communications, Inc. (NYSE:GTT) news were published by: Businesswire.com which released: “GTT Wins 2018 Leading Lights Award for Best Deal Maker” on May 16, 2018. Also Businesswire.com published the news titled: “GTT to Present at Spring 2018 Investor Conferences” on May 21, 2018. Benzinga.com‘s news article titled: “Buy The Dip In GTT Communications, KeyBanc Says In Upgrade” with publication date: May 04, 2018 was also an interesting one.

Among 12 analysts covering GTT Communications (NYSE:GTT), 11 have Buy rating, 0 Sell and 1 Hold. Therefore 92% are positive. GTT Communications had 27 analyst reports since August 7, 2015 according to SRatingsIntel. Cowen & Co maintained GTT Communications, Inc. (NYSE:GTT) on Wednesday, October 18 with “Buy” rating. On Friday, November 3 the stock rating was maintained by SunTrust with “Buy”. The rating was upgraded by KeyBanc Capital Markets on Friday, May 4 to “Overweight”. Cowen & Co initiated it with “Outperform” rating and $31 target in Monday, October 12 report. The firm has “Buy” rating by Oppenheimer given on Thursday, April 12. The stock of GTT Communications, Inc. (NYSE:GTT) has “Buy” rating given on Wednesday, November 4 by Drexel Hamilton. The firm earned “Buy” rating on Thursday, February 18 by Suntrust Robinson. The stock of GTT Communications, Inc. (NYSE:GTT) has “Buy” rating given on Wednesday, October 25 by Jefferies. Cowen & Co maintained GTT Communications, Inc. (NYSE:GTT) on Friday, March 2 with “Buy” rating. On Tuesday, October 3 the stock rating was maintained by KeyBanc Capital Markets with “Buy”.

Rosenblum Silverman Sutton S F Inc, which manages about $291.11M and $278.37 million US Long portfolio, decreased its stake in Dexcom Inc. (NASDAQ:DXCM) by 40,485 shares to 28,916 shares, valued at $1.66M in 2017Q4, according to the filing. It also reduced its holding in General Electric (NYSE:GE) by 19,690 shares in the quarter, leaving it with 106,660 shares, and cut its stake in Rockwell Collins (NYSE:COL).

Corning Incorporated (NYSE:GLW) Institutional Positions Chart

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