Bluemountain Capital Management Lowers stake in Aramark (ARMK)

Aramark (ARMK) : Bluemountain Capital Management reduced its stake in Aramark by 5.97% during the most recent quarter end. The investment management company now holds a total of 2,549,610 shares of Aramark which is valued at $84.4 Million after selling 161,835 shares in Aramark , the firm said in a disclosure report filed with the SEC on May 13, 2016.Aramark makes up approximately 3.17% of Bluemountain Capital Management’s portfolio.

Other Hedge Funds, Including , Corsair Capital Management reduced its stake in ARMK by selling 271,077 shares or 25.48% in the most recent quarter. The Hedge Fund company now holds 792,989 shares of ARMK which is valued at $26.3 Million. Aramark makes up approx 3.59% of Corsair Capital Management’s portfolio.Raymond James Associates boosted its stake in ARMK in the latest quarter, The investment management firm added 9,787 additional shares and now holds a total of 43,253 shares of Aramark which is valued at $1.4 Million. Axiom International Investors De sold out all of its stake in ARMK during the most recent quarter. The investment firm sold 45,700 shares of ARMK which is valued $1.5 Million.Thornburg Investment Management Inc reduced its stake in ARMK by selling 3,472 shares or 0.37% in the most recent quarter. The Hedge Fund company now holds 940,120 shares of ARMK which is valued at $31.1 Million. Aramark makes up approx 0.21% of Thornburg Investment Management Inc’s portfolio. Gargoyle Investment Advisor L.l.c. added ARMK to its portfolio by purchasing 70,000 company shares during the most recent quarter which is valued at $2.3 Million. Aramark makes up approx 0.80% of Gargoyle Investment Advisor L.l.c.’s portfolio.

Aramark opened for trading at $32.98 and hit $33.14 on the upside on Wednesday, eventually ending the session at $32.92, with a gain of 0.24% or 0.08 points. The heightened volatility saw the trading volume jump to 13,90,690 shares. Company has a market cap of $7,994 M.

On the company’s financial health, Aramark reported $0.39 EPS for the quarter, based on the information available during the earnings call on May 11, 2016. Analyst had a consensus estimate of $0.39. The company had revenue of $3574.80 million for the quarter, compared to analysts expectations of $3646.85 million. The company’s revenue was down -.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.37 EPS.

Many Wall Street Analysts have commented on Aramark. Aramark was Initiated by Berenberg to “Hold” on Apr 26, 2016. Nomura Initiated Aramark on Apr 20, 2016 to “Buy”, Price Target of the shares are set at $39.Aramark was Initiated by Sterne Agee CRT to “Buy” on Mar 22, 2016.

Aramark formerly ARAMARK Holdings Corporation is a global provider of food facilities and uniform services to education healthcare business and industry and sports leisure and corrections clients. The Company’s core market is North America. It serves students patients employees sports fans and guests worldwide. It serves over 500 million meals annually to approximately five million students at colleges universities and K-12 schools services over 2000 healthcare facilities caters to approximately 100 million sports fans and operates in 22 countries in North America Europe Asia and South America as of September 28 2012. It operates in three reportable segments: food and Support Services North America or FSS North America Food and Support Services International or FSS International and Uniform and Career Apparel or Uniform.

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