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Equity Actions

CRNX

Crinetics Pharmaceuticals is planning a public offering of $250M of common stock. The proceeds will be used to fund the development of paltusotine, CRN04894 and other research and development programs, as well as for working capital and general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2023 | 8:02 pm

AME

AMETEK Inc.'s shares are currently trading at $153.24, after a 0.43% decrease. Despite a 2.18% fall over the past month, the stock has risen by 24.33% over the past year. The company's price-to-earnings (P/E) ratio is lower than the industry average, which could indicate undervaluation or weak growth prospects.

Portfolio Pulse from Benzinga Insights

September 11, 2023 | 7:45 pm

AMC

AMC Entertainment Holdings Inc (NYSE:AMC) shares are trading lower by 45% over the trailing week after the company entered into an equity distribution agreement for up to 40 million shares. The company aims to use the proceeds from these share sales for multiple objectives, including strengthening its financial stability and supporting its general corporate operations. AMC Theatres also announced the showcasing of the TAYLOR SWIFT | THE ERAS TOUR concert film starting October 13. The company's AMC Preferred Equity Units underwent conversion into common stock on Friday, increasing the total AMC share count from roughly 542.2 million to 550 million shares.

Portfolio Pulse from Henry Khederian

September 11, 2023 | 6:45 pm

UNH

A significant bearish stance has been taken on UnitedHealth Group (NYSE:UNH) as indicated by unusual options activity. The sentiment among big-money traders is split between 42% bullish and 57% bearish. Whales have been targeting a price range from $470.0 to $580.0 for UnitedHealth Group over the last 3 months. HSBC has downgraded its action to Hold with a price target of $540.

Portfolio Pulse from Benzinga Insights

September 11, 2023 | 6:31 pm

JPM

JPMorgan Chase & Co. CEO Jamie Dimon has warned against overly optimistic projections for the U.S. economy, citing potential risks such as the withdrawal of central banks’ liquidity programs, the ongoing Ukraine conflict, and excessive global government spending. Despite the U.S. economy's resilience, Dimon voiced concerns and noted that JPMorgan has been buying back shares at a reduced pace, a trend that might persist into 2024.

Portfolio Pulse from Piero Cingari

September 11, 2023 | 6:27 pm

SMRT

SmartRent, Inc. (NYSE:SMRT) has responded to a recent short-seller report, calling it inaccurate and misleading. The report made negative conclusions based on RET Ventures' reduced holdings of SmartRent stock, which the company clarified was due to a series of pro rata, in-kind distributions typical of private venture funds. SmartRent maintains a close business relationship with RET and its limited partners remain SmartRent customers. The company stands by the security of its products and the value provided to property owners, managers, and residents.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2023 | 6:18 pm

BKNG

A significant bearish stance has been taken on Booking Holdings (NASDAQ:BKNG) by a large investor or institution. This was noticed through publicly available options history. The overall sentiment of these big-money traders is split between 43% bullish and 56% bearish. The whales have been targeting a price range from $2200.0 to $3850.0 for Booking Holdings over the last 3 months. Morgan Stanley maintains an Equal-Weight rating on Booking Holdings with a price target of $3000, while Tigress Financial maintains a Strong Buy rating with a price target of $3855.

Portfolio Pulse from Benzinga Insights

September 11, 2023 | 6:16 pm

TGT

A large investor has taken a bullish stance on Target (NYSE:TGT), with Benzinga's options scanner spotting 11 uncommon options trades for the company. The sentiment of these big-money traders is split between 63% bullish and 36% bearish. Whales have been targeting a price range from $120.0 to $135.0 for Target over the last 3 months. The price of TGT is currently down -0.68% at $122.85. Several experts have maintained or downgraded their ratings on Target, with price targets ranging from $142 to $168.

Portfolio Pulse from Benzinga Insights

September 11, 2023 | 6:16 pm

TNET

Needham analyst Kyle Peterson has raised the price target of Trinet Group Inc. (TNET) to $135 from $120 and maintained a Buy rating. Peterson expects TNET's CIE to remain muted for the next few quarters due to SMBs' cautious hiring. However, he believes that good execution from the sales force will boost growth. TNET has recently conducted a tender that will retire around 16% of its shares and plans to return about 75% of free cash flow to shareholders, which Peterson believes will result in additional buybacks and a possible dividend boost.

Portfolio Pulse from Lekha Gupta

September 11, 2023 | 6:12 pm

OVV

Ovintiv Inc. announced a 15 million share offering by selling shareholders, leading to a decrease in its stock price.

Portfolio Pulse from Bill Haddad

September 11, 2023 | 6:03 pm