BBX Capital (NYSE:BBX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The brokerage presently has a $10.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 9.53% from the company’s current price.
According to Zacks, “BBX Capital Corporation is a holding company whose principal holding is Bluegreen Corporation. The Company is involved in the acquisition, ownership and management of joint ventures and investments in real estate and real estate development projects, as well as acquisitions, investments and management of middle market operating businesses. BBX Capital Corporation, formerly known as BFC Financial Corporation, is based in FL, United States. “
Separately, B. Riley restated a “buy” rating and set a $11.75 price objective on shares of BBX Capital in a research note on Monday, January 8th.
In other BBX Capital news, Director Oscar Holzmann sold 18,000 shares of BBX Capital stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $9.06, for a total transaction of $163,080.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 54,000 shares of company stock valued at $459,180. Company insiders own 28.74% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Kennedy Capital Management Inc. lifted its stake in BBX Capital by 3.5% during the 4th quarter. Kennedy Capital Management Inc. now owns 758,213 shares of the financial services provider’s stock valued at $6,043,000 after acquiring an additional 25,323 shares during the period. Geode Capital Management LLC increased its holdings in shares of BBX Capital by 56.4% during the 4th quarter. Geode Capital Management LLC now owns 523,777 shares of the financial services provider’s stock valued at $4,174,000 after purchasing an additional 188,824 shares in the last quarter. BlackRock Inc. increased its holdings in shares of BBX Capital by 3,703.7% during the 4th quarter. BlackRock Inc. now owns 482,920 shares of the financial services provider’s stock valued at $3,848,000 after purchasing an additional 470,224 shares in the last quarter. Gator Capital Management LLC purchased a new position in shares of BBX Capital during the 4th quarter valued at approximately $3,075,000. Finally, Alambic Investment Management L.P. increased its holdings in shares of BBX Capital by 96.1% during the 4th quarter. Alambic Investment Management L.P. now owns 317,019 shares of the financial services provider’s stock valued at $2,527,000 after purchasing an additional 155,390 shares in the last quarter. Institutional investors and hedge funds own 28.31% of the company’s stock.
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About BBX Capital
BBX Capital Corporation, formerly BFC Financial Corporation, is a diversified holding company. The Company has investments in Bluegreen Corporation (Bluegreen) and Renin Holdings, LLC (Renin), and in real estate and middle market operating companies. Its segments include Bluegreen, BBX Capital Real Estate and Renin.
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