Cowen Inc. Sells 15,211 Shares of Reynolds American, Inc. (RAI)

Cowen Inc. decreased its position in shares of Reynolds American, Inc. (NYSE:RAI) by 13.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 95,074 shares of the company’s stock after selling 15,211 shares during the quarter. Cowen Inc.’s holdings in Reynolds American were worth $6,184,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of RAI. Waldron LP lifted its stake in shares of Reynolds American by 1.4% during the 1st quarter. Waldron LP now owns 21,417 shares of the company’s stock worth $1,349,000 after purchasing an additional 294 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of Reynolds American by 5.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 732,891 shares of the company’s stock worth $46,177,000 after purchasing an additional 40,892 shares during the last quarter. Sheaff Brock Investment Advisors LLC lifted its stake in shares of Reynolds American by 10.9% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 11,306 shares of the company’s stock worth $713,000 after purchasing an additional 1,111 shares during the last quarter. Capital Fund Management S.A. lifted its stake in shares of Reynolds American by 2,030.6% during the 1st quarter. Capital Fund Management S.A. now owns 46,063 shares of the company’s stock worth $2,903,000 after purchasing an additional 43,901 shares during the last quarter. Finally, Girard Partners LTD. lifted its stake in shares of Reynolds American by 79.3% during the 1st quarter. Girard Partners LTD. now owns 33,764 shares of the company’s stock worth $2,128,000 after purchasing an additional 14,938 shares during the last quarter. Hedge funds and other institutional investors own 46.34% of the company’s stock.

Reynolds American, Inc. (NYSE:RAI) traded down 2.23% during mid-day trading on Monday, reaching $65.40. The company had a trading volume of 159,452,032 shares. The firm’s 50 day moving average price is $65.25 and its 200-day moving average price is $64.00. Reynolds American, Inc. has a 12 month low of $43.38 and a 12 month high of $67.81.

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A number of research firms have commented on RAI. BidaskClub cut Reynolds American from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 10th. Cowen and Company reiterated a “hold” rating and issued a $65.00 price target on shares of Reynolds American in a research note on Tuesday, July 11th. Piper Jaffray Companies began coverage on Reynolds American in a research note on Thursday, May 25th. They issued a “neutral” rating and a $67.00 price target for the company. Jefferies Group LLC set a $60.00 price target on Reynolds American and gave the company a “hold” rating in a research note on Monday, July 17th. Finally, Vetr upgraded Reynolds American from a “buy” rating to a “strong-buy” rating and set a $73.00 price target for the company in a research note on Monday, June 12th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $59.82.

Reynolds American Company Profile

Reynolds American Inc (RAI) is a holding company. The Company’s segments include RJR Tobacco, which consists of the primary operations of its subsidiary, R. J. Reynolds Tobacco Company; Santa Fe, which consists of the primary operations of its subsidiary, Santa Fe Natural Tobacco Company, Inc, and American Snuff, which consists of the primary operations of its subsidiary, American Snuff Company, LLC.

Institutional Ownership by Quarter for Reynolds American (NYSE:RAI)

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