Sanders Morris Harris LLC Takes a Position in Brink’s
The investment world has been abuzz with news that Sanders Morris Harris LLC, a prominent financial services firm, has recently taken a position in The Brink’s Company (NYSE:BCO). According to a recent disclosure made with the Securities and Exchange Commission (SEC), the firm purchased 3,000 shares of the business-services provider’s stock. This is an unusual move for a company like Sanders Morris Harris LLC and is indicative of the growing interest in Brink’s.
Brink’s is a well-known name in the security industry, providing security solutions for individuals and businesses worldwide. They have been in operation since 1859 and are known for their innovative approaches to security, including armored transportation and secure processing facilities.
Of particular note are Brink’s recent earnings results. On May 10th, they reported $1.16 per share earnings for the quarter – exceeding analyst estimates by six cents. Furthermore, the company reported revenues of $1.19 billion during that same quarter – surpassing analyst predictions by approximately $40 million.
These favorable statistics confirm Brink’s robust potential within its sector. Analysts forecast that The Brink’s Company will post an EPS of 6.8 for the current year. With this promising outlook, it is not surprising that Sanders Morris Harris LLC has taken a position in the company.
It was also announced last month that Dominik Bossart – an Executive Vice President at Brink’s – had sold 15,000 shares of stock for $70 per share, netting over one million dollars from the transaction. In light of this sale by an insider who maintained considerable stake post-transaction; investors should look forward with anticipation towards future developments from both inside and outside of Brinks.
Overall Sanders Morris Harris LLC seems confident in their assessment that rinks’ business model remains sound will continue to attract new revenue streams as markets open up in a post-COVID world. By taking a position in this company, they have strategically placed themselves to take advantage of Brink’s potential for growth, and investors are watching with great interest.
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Brink’s Company sees surge in institutional investment and positive outlook for stock growth
The Brink’s Company (NYSE:BCO) has rallied this year after releasing strong financial results, causing hedge funds and institutional investors to increase their holdings. JPMorgan Chase & Co., Bank of Montreal Can, Raymond James & Associates, Rhumbline Advisers and Commonwealth of Pennsylvania Public School Empls Retrmt SYS have all increased their stake in the business services provider. JPMorgan Chase & Co now owns 219,320 shares of BCO with Raymond James & Associates having 34,178 shares; Bank of Montreal Can owning 4,326 share; Rhumbline Advisers with 151,123 shares; and Commonwealth of Pennsylvania Public School Empls Retrmt SYS holding 18,014 shares. This accumulation by institutional investors reveals confidence in Brink’s prospects.
On Monday, BCO opened at a price value of $72.62 with its market capitalization standing at $3.37 billion and a beta rating of 1.34. While there is a PE ratio sitting at 29.64, however the company demonstrates solid returns in its stock price peaking last year at $73.39 and settling last week on Friday June 2nd for $68.30 as moving averages present positive momentum for the business’s outlook.
Recently EVP Dominik Bossart sold shares totaling up to $1 million with an average price point being $70 per share before trading officially halted following June-6th transaction date announcement filings have been disclosed with the SEC.
Stockholders who qualify received recently released quarterly dividend payments on Thursday June-1st totaling which comes out to be around $.22 per share, an increase over previous quarters from $.20,” providing a dividend yield coming in at 1.21% which is excellent news for key investors that have significant stakes in Brink’s company.
Taking recent stock movements into account analysts suggest that buying into BCO would be a worthwhile venture. StockNews.com stated they placed a “buy” rating on BCO while TheStreet upgraded the business from c+ rating to “b” rating and Truist Financial upped their previous target price of $78 by $12 to $90 per share, a surprise move following strong fundamentals in the financials released by the company causing clear market trends pointing towards Brink’s as having short- and long-term investment potential.
