Bainco International Investors buys $21.2 Million stake in Carbonite Inc (CARB)

Carbonite Inc (CARB) : Bainco International Investors scooped up 3,938 additional shares in Carbonite Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 2,346,233 shares of Carbonite Inc which is valued at $21.2 Million.Carbonite Inc makes up approximately 5.08% of Bainco International Investors’s portfolio.

Other Hedge Funds, Including , First Allied Advisory Services boosted its stake in CARB in the latest quarter, The investment management firm added 285 additional shares and now holds a total of 32,739 shares of Carbonite Inc which is valued at $295,306. Carbonite Inc makes up approx 0.02% of First Allied Advisory Services’s portfolio.Nine Chapters Capital Management reduced its stake in CARB by selling 20,500 shares or 45.45% in the most recent quarter. The Hedge Fund company now holds 24,600 shares of CARB which is valued at $221,892. Carbonite Inc makes up approx 0.02% of Nine Chapters Capital Management’s portfolio.Oxford Asset Management boosted its stake in CARB in the latest quarter, The investment management firm added 14,634 additional shares and now holds a total of 152,627 shares of Carbonite Inc which is valued at $1.4 Million. Carbonite Inc makes up approx 0.05% of Oxford Asset Management’s portfolio.Schwab Charles Investment Management Inc boosted its stake in CARB in the latest quarter, The investment management firm added 714 additional shares and now holds a total of 50,105 shares of Carbonite Inc which is valued at $445,433.

Carbonite Inc opened for trading at $9.09 and hit $9.23 on the upside on Friday, eventually ending the session at $9.05, with a gain of 0.22% or 0.02 points. The heightened volatility saw the trading volume jump to 55,172 shares. Company has a market cap of $243,861 M.

On the company’s financial health, Carbonite Inc reported $0.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.21 according to the earnings call on May 3, 2016. Analyst had a consensus of $-0.06. The company had revenue of $48.10 million for the quarter, compared to analysts expectations of $41.51 million. The company’s revenue was up 45.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.05 EPS.

Carbonite Inc. (Carbonite) provides cloud and hybrid backup solutions. The Company’s solutions are designed to address the specific needs of small and medium sized businesses (SMBs) and individuals. The Company’s suite of solutions includes Carbonite Personal which include unlimited cloud backup for one computer at three different service levels for individuals; Carbonite Pro the Company’s small business workstation solutions automatically back up files to the cloud and include an unlimited number of devices for an annual flat fee based on the amount of storage needed and Carbonite Server Backup the Company’s hybrid server backup solution that protects an unlimited number of servers databases and live applications and offers management capabilities. As of December 31 2014 the Company had subscribers in over 100 countries with subscribers based in the United States representing approximately 94% of its total revenue.

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