Renaissance Technologies LLC lessened its stake in Cooper-Standard Holdings Inc. (NYSE:CPS – Free Report) by 10.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 323,700 shares of the auto parts company’s stock after selling 39,705 shares during the period. Renaissance Technologies LLC’s holdings in Cooper-Standard were worth $9,022,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its stake in Cooper-Standard by 343.0% during the 1st quarter. Royal Bank of Canada now owns 25,628 shares of the auto parts company’s stock valued at $393,000 after acquiring an additional 19,843 shares during the last quarter. AQR Capital Management LLC grew its holdings in Cooper-Standard by 1,345.8% during the 1st quarter. AQR Capital Management LLC now owns 151,530 shares of the auto parts company’s stock worth $2,321,000 after acquiring an additional 141,049 shares in the last quarter. Millennium Management LLC increased its position in shares of Cooper-Standard by 89.9% in the 1st quarter. Millennium Management LLC now owns 311,015 shares of the auto parts company’s stock worth $4,765,000 after purchasing an additional 147,209 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Cooper-Standard by 21.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 214,523 shares of the auto parts company’s stock valued at $3,286,000 after purchasing an additional 38,489 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new stake in shares of Cooper-Standard in the 2nd quarter valued at about $202,000. 69.11% of the stock is owned by institutional investors and hedge funds.
Cooper-Standard Stock Down 0.4%
Shares of NYSE CPS opened at $29.35 on Monday. The firm’s 50-day moving average price is $28.73 and its two-hundred day moving average price is $30.86. Cooper-Standard Holdings Inc. has a 52-week low of $23.61 and a 52-week high of $47.98. The stock has a market capitalization of $521.06 million, a P/E ratio of -13.46 and a beta of 1.99.
Wall Street Analyst Weigh In
A number of research firms recently commented on CPS. Stifel Nicolaus decreased their price target on Cooper-Standard from $55.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, July 20th. Zacks Research cut Cooper-Standard from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cooper-Standard in a report on Friday, May 22nd. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $48.33.
Check Out Our Latest Analysis on Cooper-Standard
About Cooper-Standard
Cooper-Standard Holding Inc is a global supplier of sealing, fuel and brake delivery, and fluid transfer systems for the automotive industry. The company designs and manufactures engineered rubber, plastic and metal products, including sealing systems for doors, windows and powertrain assemblies, fuel and brake hoses and lines, and fluid transfer components such as coolant, refrigerant and washer fluid systems.
Founded in 1922 and headquartered in Novi, Michigan, Cooper-Standard operates manufacturing facilities and technical centers across North America, Europe, South America and Asia.
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