Kamunting Street Capital Management Lowers stake in Platform Specialty Products Corp (PAH)

Platform Specialty Products Corp (PAH) : Kamunting Street Capital Management reduced its stake in Platform Specialty Products Corp by 42.68% during the most recent quarter end. The investment management company now holds a total of 40,291 shares of Platform Specialty Products Corp which is valued at $358,590 after selling 30,000 shares in Platform Specialty Products Corp , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Platform Specialty Products Corp makes up approximately 0.83% of Kamunting Street Capital Management’s portfolio.

Other Hedge Funds, Including , Voya Investment Management boosted its stake in PAH in the latest quarter, The investment management firm added 9,092 additional shares and now holds a total of 53,880 shares of Platform Specialty Products Corp which is valued at $479,532. Fmr added PAH to its portfolio by purchasing 487,769 company shares during the most recent quarter which is valued at $4,341,144. Pacad Investment Ltd. added PAH to its portfolio by purchasing 32,600 company shares during the most recent quarter which is valued at $290,140. Platform Specialty Products Corp makes up approx 0.04% of Pacad Investment Ltd.’s portfolio.Teacher Retirement System Of Texas boosted its stake in PAH in the latest quarter, The investment management firm added 2,409 additional shares and now holds a total of 20,735 shares of Platform Specialty Products Corp which is valued at $200,300.

Platform Specialty Products Corp closed down -0.15 points or -1.66% at $8.9 with 12,45,698 shares getting traded on Thursday. Post opening the session at $9.07, the shares hit an intraday low of $8.89 and an intraday high of $9.245 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Platform Specialty Products Corp reported $0.16 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Aug 8, 2016. Analyst had a consensus of $0.20. The company had revenue of $922.00 million for the quarter, compared to analysts expectations of $887.70 million. The company’s revenue was up 36.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS.

Many Wall Street Analysts have commented on Platform Specialty Products Corp. Platform Specialty Products Corp was Initiated by ROTH Capital to “Buy” on Aug 22, 2016. Citigroup Initiated Platform Specialty Products Corp on Jul 28, 2016 to “Buy”, Price Target of the shares are set at $11.

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