Zacks Investment Research Lowers CoreLogic, Inc. (CLGX) to Sell
CoreLogic, Inc. (NYSE:CLGX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday.
According to Zacks, “CoreLogic, Inc., formerly known as First American Corp., is a provider of consumer, financial and property information, analytics and services to business and government. The Company combines public, contributory and proprietary data to develop predictive decision analytics and provide business services. CoreLogic has built databases for U.S. real estate, mortgage application, fraud, and loan performance and is also a provider of mortgage and automotive credit reporting, property tax, valuation, flood determination, and geospatial analytics and services. The Company serves various industries, including automotive, cable, financial services, employment, geospatial information service, insurance, legal, oil and gas, real estate, retail, utility, and telecommunications. CoreLogic, Inc. is headquartered in Santa Ana, California. “
A number of other analysts have also recently weighed in on the stock. BidaskClub cut shares of CoreLogic from a “hold” rating to a “sell” rating in a report on Friday, September 22nd. Oppenheimer Holdings Inc. raised their price target on shares of CoreLogic from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $46.00 price target on shares of CoreLogic in a report on Thursday, July 27th. Piper Jaffray Companies restated a “hold” rating and issued a $50.00 price target on shares of CoreLogic in a report on Friday. Finally, Barclays PLC raised their price target on shares of CoreLogic from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. CoreLogic has an average rating of “Hold” and a consensus target price of $46.50.
Shares of CoreLogic (NYSE CLGX) traded down 0.32% during midday trading on Monday, reaching $46.91. 480,945 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $47.38 and its 200-day moving average is $44.68. CoreLogic has a 12-month low of $34.59 and a 12-month high of $49.30. The stock has a market cap of $3.95 billion, a PE ratio of 43.08 and a beta of 0.93.
CoreLogic (NYSE:CLGX) last issued its earnings results on Wednesday, October 25th. The business services provider reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.01. CoreLogic had a net margin of 4.86% and a return on equity of 17.10%. The company had revenue of $483.10 million for the quarter, compared to analysts’ expectations of $490.09 million. During the same period in the prior year, the business earned $0.73 EPS. The firm’s quarterly revenue was down 7.8% on a year-over-year basis. On average, equities analysts expect that CoreLogic will post $2.33 EPS for the current year.
In related news, Director Paul F. Folino sold 1,750 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $45.24, for a total value of $79,170.00. Following the completion of the transaction, the director now directly owns 9,462 shares of the company’s stock, valued at approximately $428,060.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frank Martell sold 35,392 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $47.11, for a total transaction of $1,667,317.12. Following the completion of the transaction, the chief executive officer now directly owns 251,344 shares of the company’s stock, valued at $11,840,815.84. The disclosure for this sale can be found here. Insiders sold a total of 65,842 shares of company stock valued at $3,086,969 over the last ninety days. 1.20% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Becker Capital Management Inc. purchased a new position in CoreLogic during the 2nd quarter worth approximately $218,000. Liberty Mutual Group Asset Management Inc. raised its position in CoreLogic by 51.3% during the 4th quarter. Liberty Mutual Group Asset Management Inc. now owns 57,428 shares of the business services provider’s stock worth $1,945,000 after buying an additional 19,478 shares during the last quarter. CrestPoint Capital Management LLC purchased a new position in CoreLogic during the 1st quarter worth approximately $208,000. First Mercantile Trust Co. raised its position in CoreLogic by 35.5% during the 4th quarter. First Mercantile Trust Co. now owns 23,096 shares of the business services provider’s stock worth $782,000 after buying an additional 6,046 shares during the last quarter. Finally, Capital Fund Management S.A. purchased a new position in CoreLogic during the 4th quarter worth approximately $1,357,000. 88.21% of the stock is owned by institutional investors.
CoreLogic Company Profile
CoreLogic, Inc is a provider of property information, analytics and data-enabled services. The Company provides detailed coverage of property, mortgages and other encumbrances, property risk and replacement cost, consumer credit, tenancy, location, hazard risk and related performance information. Its segments include Property Intelligence (PI), Risk Management and Work Flow (RMW), and Corporate.
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