Moon Capital Management Lowers stake in Loews Corporation (L)

Loews Corporation (L) : Moon Capital Management reduced its stake in Loews Corporation by 0.55% during the most recent quarter end. The investment management company now holds a total of 67,496 shares of Loews Corporation which is valued at $2,655,968 after selling 375 shares in Loews Corporation , the firm said in a disclosure report filed with the SEC on Apr 13, 2016.Loews Corporation makes up approximately 3.35% of Moon Capital Management’s portfolio.

Loews Corporation opened for trading at $39.16 and hit $39.5 on the upside on Monday, eventually ending the session at $39.44, with a gain of 0.23% or 0.09 points. The heightened volatility saw the trading volume jump to 7,79,321 shares. Company has a market cap of $13,370 M.

Other Hedge Funds, Including , Churchill Management Corp added L to its portfolio by purchasing 119,695 company shares during the most recent quarter which is valued at $4,709,998. Loews Corporation makes up approx 0.33% of Churchill Management Corp’s portfolio.Creative Planning reduced its stake in L by selling 1,739 shares or 46.08% in the most recent quarter. The Hedge Fund company now holds 2,035 shares of L which is valued at $77,778.

On the company’s financial health, Loews Corporation reported $-0.58 EPS for the quarter, missing the analyst consensus estimate by $ -1.35 based on the information available during the earnings call on Feb 8, 2016. Analyst had a consensus of $0.77. The company had revenue of $3333.00 million for the quarter.The company’s revenue was down -5.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.57 EPS.

Loews Corporation is a holding company. The Company through its subsidiaries is engaged in commercial property and casualty insurance; operation of offshore oil and gas drilling rigs; transportation and storage of natural gas and natural gas liquids and gathering and processing of natural gas and operation of a chain of hotels. The Company’s subsidiaries include CNA Financial Corporation (CNA); Diamond Offshore Drilling Inc. (Diamond Offshore); Boardwalk Pipeline Partners LP (Boardwalk Pipeline) and Loews Hotels Holding Corporation (Loews Hotels). CNA’s insurance products primarily include commercial property and casualty coverages including surety. Diamond Offshore is engaged in the business of operating drilling rigs. Boardwalk Pipeline is engaged in natural gas and natural gas liquids transportation and storage and natural gas gathering and processing. The subsidiaries of Loews Hotels Holding Corporation operate a chain of 21 hotels.

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