Streetbeat News

Assets

AMG

Affiliated Managers Group (NYSE:AMG) has seen a 53.49% increase in short interest, with 560 thousand shares sold short, representing 1.98% of its float. This indicates a bearish market sentiment, although it has less short interest compared to its peers' average of 2.73%. The rise in short interest doesn't necessarily predict a price drop but suggests increased bearishness among traders.

Portfolio Pulse from Benzinga Insights

April 01, 2024 | 1:30 pm

BATRA

BATRK

BRK

DKNG

The Atlanta Braves, a publicly traded sports team, are considered a betting favorite for the 2024 MLB season. Their parent company, Atlanta Braves Holdings Inc, is valued at $3.4 billion, indicating potential undervaluation. Warren Buffett's Berkshire Hathaway holds shares in the Braves, highlighting its value investment appeal. The Braves are favored to win the NL East and are a top pick for the World Series, with DraftKings Inc offering odds on their success.

Portfolio Pulse from Chris Katje

April 01, 2024 | 1:28 pm

NEM

Newmont Corporation's shares are experiencing an uptick due to the ongoing strength in the gold market.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 1:24 pm

TRNO

Terreno Realty Corporation (TRNO) sold an industrial property in Seattle, WA, for $11M, generating a 16.5% internal rate of return. The property, acquired in 2016 for $4.7M, is fully leased. TRNO operates in six major U.S. coastal markets.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 1:16 pm

MP

MP Materials (NYSE:MP) has been awarded a $58.5 million tax credit to support the construction of America's first fully-integrated rare earth magnet manufacturing facility. This initiative is part of a competitive process overseen by the Department of Energy, aimed at enhancing technical, commercial viability, and environmental impact. The facility will produce neodymium-iron-boron (NdFeB) magnets, crucial for various applications including electric vehicles and defense systems. MP Materials plans to start commercial production of precursor materials in Fort Worth by this summer and finished magnets by late 2025, with General Motors as a foundational customer. The raw materials will be sourced from MP's rare earth mine in Mountain Pass, California, ensuring an end-to-end supply chain with integrated recycling and sustainability.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 1:09 pm

BUSE

First Busey Corporation (BUSE) has completed its acquisition of Merchants and Manufacturers Bank Corporation (M&M), effective April 1, 2024. The deal includes a mix of cash and stock, totaling approximately $12.2 million in cash and 1,429,324 shares of Busey common stock. Busey will operate M&M Bank as a separate entity until a merger in June 2024, which will expand Busey's footprint to 62 full-service locations across several states. The acquisition enhances Busey's deposit, commercial banking, and wealth management presence, particularly in the Chicago-Naperville-Elgin, IL-IN-WI Metropolitan Statistical Area, improving its deposit share ranking significantly. Both companies emphasize their commitment to community banking and customer service excellence.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 1:07 pm

WAL

Recent analysis of Western Alliance (NYSE:WAL) by 6 financial analysts shows a mix of bullish to bearish sentiments, with an upward trend in the 12-month price targets, now averaging $81.33. The company, a Las Vegas-based bank holding company, faces challenges in revenue growth and debt management but excels in net margin, ROE, and ROA. Analysts maintain or raise their ratings, reflecting their reaction to the company's performance and market conditions.

Portfolio Pulse from Benzinga Insights

April 01, 2024 | 1:01 pm

HTZ

Hertz Global Holdings (NYSE:HTZ) has seen a decrease in short interest, with 24.79 million shares sold short, representing 20.24% of its float. This is a significant reduction of 8.33% from its last report. The current short interest suggests a bullish sentiment among investors, as it takes approximately 5.91 days to cover all short positions. Hertz's short interest is notably higher than its peer group average of 7.58%, indicating more bearish sentiment compared to its peers.

Portfolio Pulse from Benzinga Insights

April 01, 2024 | 1:00 pm

MED

Medifast's (NYSE:MED) short interest has increased to 28.57% of its float, indicating a rise in bearish sentiment among investors. With 2.05 million shares sold short and a 3.98-day average to cover, Medifast's short interest surpasses its peer group average of 5.38%. This rise in short interest can act as a market sentiment indicator, though it doesn't necessarily predict a near-term price drop.

Portfolio Pulse from Benzinga Insights

April 01, 2024 | 1:00 pm

BITF

Bitfarms Ltd (NASDAQ:BITF) shares are trading higher after the company released a production and operations update for March, reporting it mined 286 bitcoin, a decrease from previous months, but increased its total bitcoin holdings to 806. The company also announced the purchase of additional miners to reach a target of 21 EH/s by year-end, aiming for greater operating efficiency.

Portfolio Pulse from Adam Eckert

April 01, 2024 | 12:51 pm