Nuance Investments Lowers stake in Franks International NV (FI)

Franks International NV (FI) : Nuance Investments reduced its stake in Franks International NV by 11.87% during the most recent quarter end. The investment management company now holds a total of 5,942,895 shares of Franks International NV which is valued at $71,255,311 after selling 800,646 shares in Franks International NV , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Franks International NV makes up approximately 7.39% of Nuance Investments’s portfolio.

Other Hedge Funds, Including , Quantbot Technologies Lp added FI to its portfolio by purchasing 1,331 company shares during the most recent quarter which is valued at $15,959.California State Teachers Retirement System boosted its stake in FI in the latest quarter, The investment management firm added 1,366 additional shares and now holds a total of 76,682 shares of Franks International NV which is valued at $919,417.First Quadrant L Pca boosted its stake in FI in the latest quarter, The investment management firm added 44,175 additional shares and now holds a total of 88,300 shares of Franks International NV which is valued at $1,286,531. Franks International NV makes up approx 0.03% of First Quadrant L Pca’s portfolio. Acadian Asset Management added FI to its portfolio by purchasing 27,000 company shares during the most recent quarter which is valued at $393,390.Bnp Paribas Arbitrage Sa boosted its stake in FI in the latest quarter, The investment management firm added 623 additional shares and now holds a total of 4,196 shares of Franks International NV which is valued at $62,395.

Franks International NV opened for trading at $12.52 and hit $12.725 on the upside on Monday, eventually ending the session at $12.56, with a gain of 1.54% or 0.19 points. The heightened volatility saw the trading volume jump to 5,15,051 shares. Company has a market cap of $1,962 M.

On the company’s financial health, Franks International NV reported $-0.20 EPS for the quarter, missing the analyst consensus estimate by $ -0.19 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $-0.01. The company had revenue of $121.00 million for the quarter, compared to analysts expectations of $140.13 million. The company’s revenue was down -52.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.14 EPS.

Many Wall Street Analysts have commented on Franks International NV. Shares were Reiterated by Scotia Howard Weil on Jul 29, 2016 to “Sector Perform” and Lowered the Price Target to $ 14 from a previous price target of $17 .Franks International NV was Downgraded by CapitalOne to ” Equal Weight” on Jul 28, 2016. Shares were Downgraded by Jefferies on Jul 11, 2016 to ” Underperform” and Lowered the Price Target to $ 12 from a previous price target of $14.50 .

Frank’s International N.V. (FINV) is a provider of engineered tubular services to the exploration and production companies in both offshore and onshore environments. The Company operates through three business segments: International Services U. S. Services and Tubular Sales. The International Services segment provides tubular services to exploration and production companies in international offshore markets and in several onshore international regions in approximately 60 countries on six continents. The U.S. Services segment provides tubular services in the active onshore oil and gas drilling regions in the United States including the Permian Basin Bakken Shale Barnett Shale Eagle Ford Shale Haynesville Shale Marcellus Shale and Utica Shale as well as in the United States Gulf of Mexico. The Tubular Sales segment designs manufactures and distributes outside diameter (OD) pipe connectors and casing attachments.

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