Rhumbline Advisers Buys New Stake in Covia Holdings (NASDAQ:CVIA)

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Rhumbline Advisers acquired a new stake in Covia Holdings (NASDAQ:CVIA) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 28,771 shares of the company’s stock, valued at approximately $534,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sterling Investment Advisors Ltd. purchased a new position in Covia during the 2nd quarter worth $111,000. Exane Derivatives purchased a new stake in shares of Covia in the second quarter valued at about $358,000. Algert Global LLC purchased a new stake in shares of Covia in the second quarter valued at about $579,000. Viking Fund Management LLC purchased a new stake in shares of Covia in the second quarter valued at about $668,000. Finally, Shaker Investments LLC OH purchased a new stake in shares of Covia in the second quarter valued at about $1,248,000.

Several analysts have recently weighed in on CVIA shares. Piper Jaffray Companies started coverage on shares of Covia in a report on Monday, June 18th. They issued an “overweight” rating and a $24.00 target price on the stock. Guggenheim reiterated a “neutral” rating on shares of Covia in a research note on Friday, July 6th. Royal Bank of Canada reiterated a “buy” rating and issued a $18.00 price objective on shares of Covia in a research note on Wednesday, August 15th. Credit Suisse Group reduced their price objective on shares of Covia from $24.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, August 15th. Finally, Cowen restated a “buy” rating and set a $19.00 target price on shares of Covia in a research report on Thursday, August 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Covia currently has an average rating of “Hold” and a consensus target price of $15.00.

Shares of NASDAQ:CVIA traded down $0.12 during trading on Friday, reaching $7.52. The stock had a trading volume of 655,372 shares, compared to its average volume of 536,531. Covia Holdings has a fifty-two week low of $7.22 and a fifty-two week high of $30.00.

Covia (NASDAQ:CVIA) last posted its quarterly earnings data on Tuesday, August 14th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.62). The firm had revenue of $508.42 million for the quarter, compared to analyst estimates of $595.59 million. During the same period in the previous year, the company posted $0.25 earnings per share. Covia’s revenue was up 56.9% on a year-over-year basis.

About Covia

There is no company description available for Covia Holdings Corp.

Read More: Diversification

Institutional Ownership by Quarter for Covia (NASDAQ:CVIA)

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