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Equity Actions

HLNE

Hamilton Lane (NASDAQ:HLNE) has been the subject of 4 analyst reviews over the last three months, all indicating an 'Indifferent' stance. Despite this, price targets have been raised, with the current average target at $111.25, reflecting a 10.7% increase from the previous $100.50. The company faces challenges with a -17.28% revenue decline as of September 30, 2023, but shows financial strength with a high net margin of 33.1%, ROE of 9.36%, and ROA of 3.28%. Its debt-to-equity ratio is well-managed at 0.6.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 3:00 pm

PHUN

Phunware Inc (NASDAQ:PHUN) announced a $10 million public offering, planning to sell 40 million shares at $0.25 each for working capital and expansion, including its PhunCoin and PhunToken initiatives. The company's stock fell 16.6% following the announcement. This comes after a 375% rally year-to-date, partly due to its ties with former President Donald Trump, for whom it developed a mobile app portfolio for the 2020 reelection campaign.

Portfolio Pulse from Adam Eckert

February 07, 2024 | 2:38 pm

AAPL

GOVT

MSFT

NVDA

SPY

TSLA

Hedge funds experienced over $100 billion in withdrawals in 2023, continuing a trend from 2022 due to underperformance, particularly in equity long-short funds. Short sellers faced significant losses, notably in AAPL, MSFT, and TSLA. Meanwhile, investing in the S&P 500 index through SPY would have yielded a 24.3% return. U.S. Treasury funds underperformed, but the iShares US Treasury Bond ETF (GOVT) saw a 1.5% increase. New SEC rules may increase compliance risks and costs for hedge funds managing over $50 million.

Portfolio Pulse from Neil Dennis

February 07, 2024 | 2:17 pm

PHUN

Phunware, Inc. (NASDAQ:PHUN) announced a public offering of 40 million shares at $0.25/share, aiming to raise $10M. The proceeds are intended for working capital, general corporate purposes, and expansion of product initiatives like PhunCoin and PhunToken. Roth Capital Partners is the sole placement agent for the offering, expected to close by February 9, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 2:10 pm

JBLU

JetBlue announced the appointment of Marty St. George as its new President, effective February 26, 2024. This strategic move is expected to bring experienced leadership to the airline, potentially influencing its operational and strategic direction.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 2:10 pm

GEHC

GE HealthCare Techs (NASDAQ:GEHC) has received mixed analyst ratings over the last three months, with a recent shift towards a more bullish outlook. The average 12-month price target has been adjusted to $79.00, down from $86.00, reflecting a decrease of 8.14%. Analysts from Mizuho, Morgan Stanley, Jefferies, and UBS have updated their ratings and price targets, indicating varied expectations for the company's performance. GE HealthCare Techs, a leader in medical technology and diagnostics, has shown solid revenue growth but faces challenges in net margin, ROA, and debt management.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 2:00 pm

REKR

Rekor Systems, Inc. (NASDAQ:REKR) announced the pricing of a follow-on public offering of 10 million shares at $2.50 each, expected to close on February 9, 2024. The offering includes an option for underwriters to purchase up to an additional 1.5 million shares. William Blair is the sole book-running manager, with Northland Capital Markets as the lead manager. The offering is made under an effective shelf registration statement filed with the SEC.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 1:42 pm

LVO

LiveOne (NASDAQ:LVO), a music, entertainment, and technology platform, has officially appointed Aaron Sullivan as CFO. Sullivan, who has been with the company since March 2019, previously served as Vice President, Corporate Controller, and Interim CFO. CEO Robert Ellin praised Sullivan's contributions and leadership in strengthening the company's financial and operational management.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 1:38 pm

CRC

CRC's Board of Directors has approved an expansion of the share repurchase program, increasing the total to $1.35 billion, an addition of $250 million. The program has also been extended to run through December 31, 2025.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 1:30 pm

CRC

California Resources Corporation (CRC) announced a definitive merger agreement with Aera Energy in an all-stock transaction valued at approximately $2.1 billion. The deal includes issuing 21.2 million CRC shares to Aera's equity owners and refinancing Aera's debt. This merger is expected to be immediately accretive, enhancing key 2024 financial metrics, doubling pro forma 2024E free cash flow to about $685 million, and expanding CRC's carbon management platform. Post-merger, CRC plans to increase shareholder returns, reduce debt, and expand its carbon management business. The transaction, expected to close in the second half of 2024, has received unanimous approval from CRC's Board and Aera's shareholders.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 1:29 pm