Bank of New York Mellon Corp decreased its stake in Belmond Ltd (NYSE:BEL) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,768,162 shares of the company’s stock after selling 77,556 shares during the period. Bank of New York Mellon Corp owned 2.71% of Belmond worth $37,786,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in BEL. JPMorgan Chase & Co. lifted its position in Belmond by 2,439.0% during the second quarter. JPMorgan Chase & Co. now owns 50,654 shares of the company’s stock worth $674,000 after acquiring an additional 48,659 shares during the last quarter. Nationwide Fund Advisors increased its holdings in shares of Belmond by 2.9% during the second quarter. Nationwide Fund Advisors now owns 71,187 shares of the company’s stock worth $947,000 after purchasing an additional 1,975 shares during the period. BNP Paribas Arbitrage SA increased its holdings in shares of Belmond by 51.1% during the second quarter. BNP Paribas Arbitrage SA now owns 29,150 shares of the company’s stock worth $388,000 after purchasing an additional 9,862 shares during the period. Gluskin Sheff & Assoc Inc. bought a new position in shares of Belmond during the second quarter worth approximately $2,374,000. Finally, New York State Common Retirement Fund increased its holdings in shares of Belmond by 2.9% during the second quarter. New York State Common Retirement Fund now owns 327,676 shares of the company’s stock worth $4,358,000 after purchasing an additional 9,199 shares during the period. Institutional investors own 81.09% of the company’s stock.
Several brokerages have recently commented on BEL. Deutsche Bank lowered their target price on shares of Belmond from $13.00 to $12.00 and set a “hold” rating on the stock in a report on Wednesday, November 8th. Barclays reaffirmed an “overweight” rating and set a $15.00 target price (down from $16.00) on shares of Belmond in a report on Thursday, August 10th. Finally, BidaskClub cut shares of Belmond from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $14.33.
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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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