Wellington Shields Capital Management LLC grew its position in Belmond Ltd. (NYSE:BEL) by 548.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 116,200 shares of the company’s stock after buying an additional 98,276 shares during the period. Wellington Shields Capital Management LLC owned 0.11% of Belmond worth $1,586,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Shields & Co. LLC acquired a new stake in shares of Belmond in the 3rd quarter valued at $2,143,000. Municipal Employees Retirement System of Michigan increased its stake in shares of Belmond by 45.1% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 38,140 shares of the company’s stock valued at $521,000 after buying an additional 11,850 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Belmond by 60.5% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 46,797 shares of the company’s stock valued at $639,000 after buying an additional 17,647 shares during the period. Forward Management LLC grew its stake in shares of Belmond by 7.1% during the third quarter. Forward Management LLC now owns 218,300 shares of the company’s stock worth $2,980,000 after purchasing an additional 14,500 shares during the period. Finally, Gluskin Sheff & Assoc Inc. grew its stake in shares of Belmond by 39.4% during the third quarter. Gluskin Sheff & Assoc Inc. now owns 248,790 shares of the company’s stock worth $3,396,000 after purchasing an additional 70,310 shares during the period. 80.24% of the stock is owned by institutional investors.
Belmond Ltd. (NYSE:BEL) traded up $0.05 during mid-day trading on Tuesday, reaching $12.00. The company’s stock had a trading volume of 393,500 shares, compared to its average volume of 340,570. The company has a current ratio of 1.92, a quick ratio of 1.77 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $1,222.96, a price-to-earnings ratio of 62.90 and a beta of 1.18. Belmond Ltd. has a 52-week low of $11.00 and a 52-week high of $14.45.
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A number of equities research analysts recently commented on the company. Barclays PLC reaffirmed an “overweight” rating and set a $15.00 price objective (down from $16.00) on shares of Belmond in a research note on Thursday, August 10th. BidaskClub cut Belmond from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Deutsche Bank AG decreased their price objective on Belmond from $13.00 to $12.00 and set a “hold” rating for the company in a research note on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $14.00.
Belmond Ltd. (Belmond) is a hotel company and adventure travel operator. As of December 31, 2016, Belmond owned, partially-owned and/or operated 45 properties, consisting of 34 individual deluxe hotels, 29 of which are owned (including nine under long-term lease), five European tourist trains, two cruise ships in Myanmar (one of which is under long-term charter), one French canal cruise business consisting of five small canal boats, and one stand-alone restaurant in the United States.
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