Highbridge Capital Management buys $46,603,241 stake in Reynolds American (RAI)

Reynolds American (RAI) : Highbridge Capital Management scooped up 487,466 additional shares in Reynolds American during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 869,788 shares of Reynolds American which is valued at $46,603,241.Reynolds American makes up approximately 1.23% of Highbridge Capital Management’s portfolio.

Other Hedge Funds, Including , Fmr reduced its stake in RAI by selling 2,996,721 shares or 8.95% in the most recent quarter. The Hedge Fund company now holds 30,497,925 shares of RAI which is valued at $1,617,914,921. Reynolds American makes up approx 0.22% of Fmr’s portfolio.Thomas White International Ltd reduced its stake in RAI by selling 452 shares or 2.1% in the most recent quarter. The Hedge Fund company now holds 21,112 shares of RAI which is valued at $1,151,237. Reynolds American makes up approx 0.17% of Thomas White International Ltd’s portfolio.Blackrock Advisors reduced its stake in RAI by selling 421,835 shares or 11.38% in the most recent quarter. The Hedge Fund company now holds 3,283,794 shares of RAI which is valued at $180,740,022. Reynolds American makes up approx 0.20% of Blackrock Advisors’s portfolio. Ballentine Partners sold out all of its stake in RAI during the most recent quarter. The investment firm sold 4,307 shares of RAI which is valued $234,430.Ausdal Financial Partners reduced its stake in RAI by selling 221 shares or 3.57% in the most recent quarter. The Hedge Fund company now holds 5,963 shares of RAI which is valued at $327,726. Reynolds American makes up approx 0.17% of Ausdal Financial Partners’s portfolio.

Reynolds American opened for trading at $53.78 and hit $54.06 on the upside on Monday, eventually ending the session at $53.84, with a gain of 0.17% or 0.09 points. The heightened volatility saw the trading volume jump to 58,69,860 shares. Company has a market cap of $76,764 M.

On the company’s financial health, Reynolds American reported $0.61 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Oct 19, 2016. Analyst had a consensus of $0.64. The company had revenue of $3205.00 million for the quarter, compared to analysts expectations of $3307.98 million. The company’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS.

Many Wall Street Analysts have commented on Reynolds American. Reynolds American was Downgraded by CLSA to ” Underperform” on Oct 24, 2016. Reynolds American was Upgraded by Berenberg to ” Buy” on Oct 21, 2016. Jefferies Initiated Reynolds American on Sep 21, 2016 to “Buy”, Price Target of the shares are set at $61.

Reynolds American Inc. (RAI) is a holding company. The Company operates through three segments: RJR Tobacco American Snuff and Santa Fe. The RJR Tobacco segment consists principally of the primary operations of R. J. Reynolds Tobacco Company. The American Snuff segment consists of the primary operations of American Snuff Co. The Santa Fe segment consists of the domestic operations of Santa Fe Natural Tobacco Company Inc. (SFNTC). The Company’s wholly owned subsidiaries include R. J. Reynolds Tobacco Company American Snuff Company LLC (American Snuff Co.) Lorillard Inc. Santa Fe Natural Tobacco Company Inc. (SFNTC) R. J. Reynolds Vapor Company (RJR Vapor) Niconovum USA Inc. and Niconovum AB.

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