Jump Financial LLC Cuts Stake in Braskem S.A. (NYSE:BAK)

Jump Financial LLC lowered its position in Braskem S.A. (NYSE:BAK - Free Report) by 86.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,400 shares of the company's stock after selling 112,923 shares during the quarter. Jump Financial LLC's holdings in Braskem were worth $67,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Walleye Capital LLC boosted its stake in Braskem by 60.5% in the fourth quarter. Walleye Capital LLC now owns 512,076 shares of the company's stock worth $1,977,000 after buying an additional 193,120 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Braskem by 126.1% in the fourth quarter. Renaissance Technologies LLC now owns 329,910 shares of the company's stock worth $1,273,000 after buying an additional 184,010 shares in the last quarter. Quadrant Capital Group LLC purchased a new stake in Braskem in the fourth quarter worth approximately $88,000. Trexquant Investment LP boosted its stake in Braskem by 145.8% in the fourth quarter. Trexquant Investment LP now owns 258,638 shares of the company's stock worth $998,000 after buying an additional 153,401 shares in the last quarter. Finally, Fox Run Management L.L.C. boosted its stake in shares of Braskem by 103.3% during the fourth quarter. Fox Run Management L.L.C. now owns 35,366 shares of the company's stock valued at $137,000 after purchasing an additional 17,971 shares during the period.

Braskem Stock Performance

NYSE:BAK opened at $3.94 on Tuesday. The firm has a market cap of $1.57 billion, a PE ratio of -1.11 and a beta of 1.80. Braskem S.A. has a fifty-two week low of $2.85 and a fifty-two week high of $9.21. The business has a 50 day moving average price of $3.70 and a 200-day moving average price of $4.48.

Braskem (NYSE:BAK - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.01). Braskem had a negative return on equity of 439.59% and a negative net margin of 9.88%. The company had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.52 billion. Research analysts predict that Braskem S.A. will post -0.77 EPS for the current year.

Analysts Set New Price Targets

Separately, Scotiabank lowered Braskem from a "sector outperform" rating to a "sector perform" rating in a research note on Monday, March 3rd.

Braskem Profile

Braskem SA, together with its subsidiaries, produces and sells thermoplastic resins. The company operates through three segments: Brazil, United States and Europe, and Mexico. The Brazil segment produces and sells olefins, including ethylene, polymer and chemical grade propylene, butadiene, and butene-1; benzene, toluene, and xylenes products; fuels, such as automotive gasoline, liquefied petroleum gas, ethyl tertiary-butyl ether, and methyl tertiary-butyl ether; intermediates, such as cumene; aliphatics, aromatics, and hydrogenated solvents; and specialties comprising isoprene, dicyclopentadiene, piperylene, nonene, tetramer, polyisobutylene, and hydrocarbon resins.

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