Squarepoint Ops LLC Sells 21,098 Shares of Rogers Communication, Inc. $RCI

Squarepoint Ops LLC trimmed its position in Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) by 36.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,072 shares of the Wireless communications provider’s stock after selling 21,098 shares during the period. Squarepoint Ops LLC’s holdings in Rogers Communication were worth $1,100,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. TD Private Client Wealth LLC grew its position in Rogers Communication by 6.4% during the second quarter. TD Private Client Wealth LLC now owns 5,461 shares of the Wireless communications provider’s stock valued at $162,000 after buying an additional 330 shares during the period. MAI Capital Management raised its holdings in Rogers Communication by 30.5% in the 2nd quarter. MAI Capital Management now owns 1,958 shares of the Wireless communications provider’s stock worth $58,000 after purchasing an additional 458 shares during the period. Public Sector Pension Investment Board lifted its position in Rogers Communication by 1.8% during the second quarter. Public Sector Pension Investment Board now owns 37,181 shares of the Wireless communications provider’s stock valued at $1,101,000 after purchasing an additional 640 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Rogers Communication by 52.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider’s stock valued at $59,000 after purchasing an additional 683 shares during the period. Finally, Cerity Partners LLC grew its holdings in Rogers Communication by 7.0% during the second quarter. Cerity Partners LLC now owns 11,007 shares of the Wireless communications provider’s stock valued at $326,000 after purchasing an additional 724 shares during the period. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Barclays lifted their price objective on Rogers Communication from $33.00 to $36.00 and gave the company an “equal weight” rating in a research report on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rogers Communication in a report on Wednesday, October 8th. Cowen reissued a “buy” rating on shares of Rogers Communication in a research note on Monday, December 1st. Morgan Stanley restated an “underweight” rating on shares of Rogers Communication in a research report on Wednesday, December 10th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Rogers Communication in a report on Monday, October 20th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $36.00.

Rogers Communication Trading Down 0.3%

Rogers Communication stock opened at $36.55 on Monday. Rogers Communication, Inc. has a 1 year low of $23.18 and a 1 year high of $40.26. The firm’s 50 day moving average price is $37.85 and its 200-day moving average price is $34.87. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.62 and a quick ratio of 0.59. The stock has a market cap of $19.75 billion, a P/E ratio of 4.06, a PEG ratio of 3.37 and a beta of 0.74.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Thursday, October 23rd. The Wireless communications provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.07. The company had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $5.33 billion. Rogers Communication had a net margin of 32.49% and a return on equity of 17.14%. Rogers Communication’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the company posted $1.42 earnings per share. On average, equities analysts predict that Rogers Communication, Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communication Profile

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.