Glazer Capital buys $15.2 Million stake in EMC Corporation (EMC)

EMC Corporation (EMC) : Glazer Capital scooped up 481,199 additional shares in EMC Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 556,199 shares of EMC Corporation which is valued at $15.2 Million.EMC Corporation makes up approximately 4.45% of Glazer Capital’s portfolio.

Other Hedge Funds, Including , Connor Clark Lunn Investment Management Ltd. boosted its stake in EMC in the latest quarter, The investment management firm added 37,300 additional shares and now holds a total of 141,200 shares of EMC Corporation which is valued at $3.9 Million. EMC Corporation makes up approx 0.03% of Connor Clark Lunn Investment Management Ltd.’s portfolio.Ubs Asset Management Americas Inc reduced its stake in EMC by selling 930,206 shares or 15.15% in the most recent quarter. The Hedge Fund company now holds 5,210,666 shares of EMC which is valued at $142.6 Million. EMC Corporation makes up approx 0.17% of Ubs Asset Management Americas Inc’s portfolio.Financial Counselors Inc reduced its stake in EMC by selling 3,622 shares or 1.71% in the most recent quarter. The Hedge Fund company now holds 208,775 shares of EMC which is valued at $5.7 Million. EMC Corporation makes up approx 0.36% of Financial Counselors Inc’s portfolio.Rehmann Capital Advisory Group boosted its stake in EMC in the latest quarter, The investment management firm added 102 additional shares and now holds a total of 9,180 shares of EMC Corporation which is valued at $251,257. EMC Corporation makes up approx 0.05% of Rehmann Capital Advisory Group’s portfolio.New York State Common Retirement Fund boosted its stake in EMC in the latest quarter, The investment management firm added 14,900 additional shares and now holds a total of 5,369,200 shares of EMC Corporation which is valued at $142 Million. EMC Corporation makes up approx 0.22% of New York State Common Retirement Fund’s portfolio.

EMC Corporation closed down -0.05 points or -0.18% at $27.82 with 74,63,114 shares getting traded on Wednesday. Post opening the session at $27.84, the shares hit an intraday low of $27.78 and an intraday high of $27.91 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, EMC Corporation reported $0.31 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Apr 20, 2016. Analyst had a consensus of $0.33. The company had revenue of $5475.00 million for the quarter, compared to analysts expectations of $5640.05 million. The company’s revenue was down -2.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.31 EPS.

Investors should note that on May 16, 2016, EMC Corporation announced a cash dividend of $0.1150. The company’s management has announced Jun 29, 2016 as the ex-dividend date and fixed the record date on Jul 1, 2016. The payable date has been fixed on Jul 22, 2016.

Many Wall Street Analysts have commented on EMC Corporation. EMC Corporation was Downgraded by Longbow to ” Neutral” on May 27, 2016. Company shares were Reiterated by Deutsche Bank on Apr 21, 2016 to “Hold”, Firm has raised the Price Target to $ 27 from a previous price target of $26 .Company shares were Reiterated by Maxim Group on Apr 20, 2016 to “Hold”, Firm has raised the Price Target to $ 31.50 from a previous price target of $31 .

EMC Corporation (EMC) is a service provider to information technology (IT) operations to an as a service model (ITaaS). It develops delivers and supports the IT industry’s range of information infrastructure and virtual infrastructure technologies solutions and services. EMC manages the Company as part of a federation of businesses: EMC Information Infrastructure VMware Virtual Infrastructure and Pivotal. EMC Information Infrastructure business consists of three divisons: Information Storage Enterprise Content Division and RSA Information Security. EMC Information Infrastructure provides a foundation for organizations to store manage protect analyze and secure quantities of information. VMware develops and markets its product and service offerings within three main product groups: Software-Defined Data Center Cloud Services and End-User Computing. Pivotal’s three offerings include the Pivotal Big Data Suite Pivotal Labs and Pivotal Cloud Foundry.

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