Convergence Investment Partners LLC Invests $775,000 in Corelogic Inc (NYSE:CLGX)

Convergence Investment Partners LLC bought a new position in shares of Corelogic Inc (NYSE:CLGX) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 11,524 shares of the business services provider’s stock, valued at approximately $775,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of CLGX. First Trust Advisors LP lifted its stake in shares of Corelogic by 56.8% during the 1st quarter. First Trust Advisors LP now owns 171,101 shares of the business services provider’s stock worth $6,375,000 after buying an additional 62,013 shares during the last quarter. Alliancebernstein L.P. raised its stake in Corelogic by 2.5% in the 4th quarter. Alliancebernstein L.P. now owns 138,220 shares of the business services provider’s stock worth $6,042,000 after purchasing an additional 3,380 shares in the last quarter. Norges Bank acquired a new stake in Corelogic in the 4th quarter worth about $39,351,000. Nuveen Asset Management LLC raised its stake in Corelogic by 131.0% in the 4th quarter. Nuveen Asset Management LLC now owns 692,193 shares of the business services provider’s stock worth $30,255,000 after purchasing an additional 392,512 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in Corelogic by 3.8% in the 1st quarter. State of Alaska Department of Revenue now owns 16,590 shares of the business services provider’s stock worth $505,000 after purchasing an additional 606 shares in the last quarter. Institutional investors own 90.43% of the company’s stock.

In other Corelogic news, Director Barry M. Sando sold 3,750 shares of the business’s stock in a transaction that occurred on Wednesday, July 15th. The shares were sold at an average price of $67.72, for a total transaction of $253,950.00. Following the sale, the director now directly owns 152,761 shares of the company’s stock, valued at approximately $10,344,974.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Barry M. Sando sold 1,142 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $43.00, for a total transaction of $49,106.00. Following the sale, the director now directly owns 156,305 shares in the company, valued at $6,721,115. The disclosure for this sale can be found here. Insiders have sold a total of 14,182 shares of company stock worth $726,860 over the last ninety days. 1.60% of the stock is currently owned by insiders.

Shares of Corelogic stock traded down $0.14 during midday trading on Friday, hitting $68.16. 754,076 shares of the company traded hands, compared to its average volume of 1,425,441. The stock has a market cap of $5.41 billion, a price-to-earnings ratio of 37.66, a PEG ratio of 1.74 and a beta of 1.34. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.38 and a current ratio of 1.68. The firm’s fifty day moving average price is $62.15 and its 200-day moving average price is $47.97. Corelogic Inc has a 12 month low of $24.69 and a 12 month high of $69.87.

Corelogic (NYSE:CLGX) last announced its quarterly earnings results on Thursday, July 23rd. The business services provider reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.18. The company had revenue of $477.46 million for the quarter, compared to analyst estimates of $463.31 million. Corelogic had a net margin of 8.09% and a return on equity of 25.08%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 EPS. Equities research analysts forecast that Corelogic Inc will post 3.26 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.33 per share. The ex-dividend date is Monday, August 31st. This is a positive change from Corelogic’s previous quarterly dividend of $0.22. This represents a $1.32 annualized dividend and a dividend yield of 1.94%. Corelogic’s payout ratio is 35.20%.

CLGX has been the subject of several analyst reports. Stephens cut shares of Corelogic from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $57.00 to $69.00 in a research note on Friday, July 24th. Wells Fargo & Co cut shares of Corelogic from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $60.00 to $65.00 in a research note on Monday, June 29th. SunTrust Banks upgraded shares of Corelogic from a “hold” rating to a “buy” rating and boosted their target price for the company from $38.00 to $75.00 in a research report on Friday, June 26th. Robert W. Baird boosted their target price on shares of Corelogic from $52.00 to $55.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. Finally, Compass Point cut shares of Corelogic from a “buy” rating to a “neutral” rating in a research report on Friday, July 24th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. Corelogic has a consensus rating of “Hold” and an average price target of $57.60.

About Corelogic

CoreLogic, Inc, together with its subsidiaries, provides property information, insight, analytics, and data-enabled solutions in North America, Western Europe, and the Asia Pacific. The company operates in two segments, Property Intelligence & Risk Management Solutions (PIRM) and Underwriting & Workflow Solutions (UWS).

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Institutional Ownership by Quarter for Corelogic (NYSE:CLGX)

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