Russell Investments Group Ltd. cut its stake in shares of CPI Aerostructures, Inc. (NYSEMKT:CVU) by 12.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,503 shares of the aerospace company’s stock after selling 10,653 shares during the period. Russell Investments Group Ltd. owned about 0.86% of CPI Aerostructures worth $510,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of CVU. Dimensional Fund Advisors LP increased its stake in shares of CPI Aerostructures by 5.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 250,860 shares of the aerospace company’s stock valued at $2,320,000 after buying an additional 12,474 shares during the period. Renaissance Technologies LLC bought a new position in CPI Aerostructures during the fourth quarter valued at approximately $350,000. Finally, New Jersey Better Educational Savings Trust acquired a new stake in shares of CPI Aerostructures during the first quarter worth about $351,000.
Shares of CPI Aerostructures, Inc. (CVU) traded up 1.52% on Monday, hitting $10.00. 37,863 shares of the stock were exchanged. The stock’s 50-day moving average is $9.20 and its 200-day moving average is $7.87. CPI Aerostructures, Inc. has a 1-year low of $5.55 and a 1-year high of $10.15. The stock has a market cap of $88.32 million, a price-to-earnings ratio of 12.82 and a beta of 0.79.
CPI Aerostructures (NYSEMKT:CVU) last issued its earnings results on Tuesday, May 9th. The aerospace company reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.08. CPI Aerostructures had a return on equity of 7.32% and a net margin of 6.24%. The business had revenue of $20.03 million during the quarter, compared to analyst estimates of $16.83 million. During the same quarter in the previous year, the firm earned ($1.07) EPS. CPI Aerostructures’s revenue was up 58.1% on a year-over-year basis. Analysts forecast that CPI Aerostructures, Inc. will post $0.60 earnings per share for the current year.
A number of research firms have issued reports on CVU. B. Riley restated a “buy” rating and set a $9.50 price target on shares of CPI Aerostructures in a report on Thursday, May 4th. ValuEngine cut shares of CPI Aerostructures from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 9th. TheStreet raised shares of CPI Aerostructures from a “d+” rating to a “c-” rating in a research note on Tuesday, May 23rd. Noble Financial raised shares of CPI Aerostructures from a “hold” rating to a “buy” rating in a research note on Wednesday, May 10th. Finally, Zacks Investment Research raised shares of CPI Aerostructures from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $8.50.
CPI Aerostructures Company Profile
CPI Aerostructures, Inc (CPI Aero) is a supplier of aircraft parts for fixed wing aircraft and helicopters in both the commercial and defense markets in the United States. The Company is a manufacturer of structural aircraft parts and aerosystems. It is also a contractor to the United States Department of Defense, primarily the Air Force.
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