AlphaCrest Capital Management LLC Boosts Holdings in Mallinckrodt PLC (NYSE:MNK)

AlphaCrest Capital Management LLC raised its position in shares of Mallinckrodt PLC (NYSE:MNK) by 164.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,200 shares of the company’s stock after acquiring an additional 19,400 shares during the period. AlphaCrest Capital Management LLC’s holdings in Mallinckrodt were worth $678,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MNK. CWM LLC grew its stake in shares of Mallinckrodt by 222.8% during the first quarter. CWM LLC now owns 1,159 shares of the company’s stock valued at $25,000 after purchasing an additional 800 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Mallinckrodt by 1,480.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 520,326 shares of the company’s stock valued at $33,000 after purchasing an additional 487,394 shares during the last quarter. QS Investors LLC grew its stake in shares of Mallinckrodt by 14.3% during the fourth quarter. QS Investors LLC now owns 4,000 shares of the company’s stock valued at $64,000 after purchasing an additional 500 shares during the last quarter. Quantamental Technologies LLC bought a new stake in shares of Mallinckrodt during the fourth quarter valued at approximately $80,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Mallinckrodt by 724.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 5,617 shares of the company’s stock valued at $122,000 after purchasing an additional 4,936 shares during the last quarter.

A number of brokerages have issued reports on MNK. Canaccord Genuity reduced their price objective on shares of Mallinckrodt from $37.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, June 14th. Cantor Fitzgerald reduced their price objective on shares of Mallinckrodt from $42.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 12th. Barclays began coverage on shares of Mallinckrodt in a research note on Tuesday, June 11th. They issued an “equal weight” rating and a $11.00 price objective on the stock. Wells Fargo & Co reduced their price objective on shares of Mallinckrodt from $25.00 to $11.00 and set a “market perform” rating on the stock in a research note on Thursday, June 6th. Finally, Piper Jaffray Companies cut shares of Mallinckrodt from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $39.00 to $9.00 in a research note on Thursday, May 30th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Mallinckrodt has a consensus rating of “Hold” and an average target price of $20.83.

Shares of MNK stock traded up $0.01 during midday trading on Monday, hitting $9.19. 2,082,700 shares of the company were exchanged, compared to its average volume of 2,421,711. The company has a quick ratio of 1.08, a current ratio of 1.45 and a debt-to-equity ratio of 1.90. The stock has a market cap of $784.46 million, a price-to-earnings ratio of 1.15, a P/E/G ratio of 0.09 and a beta of 2.33. Mallinckrodt PLC has a 52 week low of $8.15 and a 52 week high of $36.65. The firm has a 50 day moving average price of $10.51.

Mallinckrodt (NYSE:MNK) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $1.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.73 by $0.21. The firm had revenue of $791.00 million during the quarter, compared to the consensus estimate of $766.27 million. Mallinckrodt had a negative net margin of 118.53% and a positive return on equity of 14.22%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.31 EPS. As a group, equities research analysts predict that Mallinckrodt PLC will post 8.24 earnings per share for the current fiscal year.

In other Mallinckrodt news, CFO Bryan M. Reasons acquired 5,400 shares of the business’s stock in a transaction on Friday, June 7th. The stock was purchased at an average price of $8.96 per share, with a total value of $48,384.00. Following the acquisition, the chief financial officer now directly owns 17,979 shares of the company’s stock, valued at approximately $161,091.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders acquired a total of 8,400 shares of company stock valued at $83,234 in the last three months. Insiders own 2.70% of the company’s stock.

Mallinckrodt Company Profile

Mallinckrodt plc, together with its subsidiaries, develops, manufactures, markets, and distributes specialty pharmaceutical products and therapies in the United States, Europe, the Middle East, Africa, and internationally. It operates in two segments, Specialty Brands, and Specialty Generics and Amitiza.

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Institutional Ownership by Quarter for Mallinckrodt (NYSE:MNK)

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