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Equity Actions

LICY

Li-Cycle's stock price increased following the announcement of a $75 million senior secured convertible note agreement with a Glencore affiliate. This financial move could bolster Li-Cycle's balance sheet and fund future expansions.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 12:43 pm

UVE

Universal Insurance Holdings has announced a new share repurchase authorization of $20 million. This move allows the company to buy back its own shares, potentially increasing the value of remaining shares and signaling confidence in its financial health.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 12:33 pm

HESM

Hess Midstream LP (HESM) announced a $100M repurchase of Class B units from its sponsors, Hess Corporation and Global Infrastructure Partners. This move, unanimously approved by the Board and its conflicts committee, is part of Hess Midstream's strategy to enhance shareholder returns and maintain a strong balance sheet. The repurchase is expected to reduce total unit count by over 20%, increase distributable cash flow per Class A share, and support distribution growth above 5% annually through 2026. The transaction will be funded through existing credit facilities and is expected to close on March 14, 2024.

Portfolio Pulse from Happy Mohamed

March 12, 2024 | 12:14 pm

OTLK

Outlook Therapeutics has announced a 1-for-20 reverse stock split, set to take effect on March 14. This action is typically undertaken by companies aiming to increase their stock price by reducing the number of shares available in the market.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 12:07 pm

RERE

ATRenew reported a year-over-year increase in Q4 financial results and issued positive Q1 revenue guidance, alongside announcing a $20 million share repurchase program. This has led to an increase in its share price.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 12:03 pm

CVNA

Carvana (NYSE:CVNA) has been analyzed by 8 analysts in the last three months, showing a mix of sentiments from bullish to bearish. The average 12-month price target for CVNA has risen 60.39% to $64.38, with a range from $45.00 to $90.00. Analysts from firms like Jefferies, RBC Capital, Morgan Stanley, JMP Securities, and Wedbush have adjusted their ratings and price targets, reflecting a nuanced view of Carvana's market position. Despite the positive adjustments in price targets, Carvana faces financial challenges, including a -14.56% decline in revenue growth, below-average net margin, ROE, and ROA, and a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 12:01 pm

NHI

National Health Investors (NYSE:NHI) received mixed reviews from 4 analysts, with a shift towards more bullish sentiments in the last 30 days. The average 12-month price target is now $65.75, marking a 17.41% increase from the previous target of $56.00. The company's financial performance shows strong revenue growth, net margin, ROE, and ROA, with a lower-than-average debt-to-equity ratio, indicating a solid financial position.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 12:00 pm

AREC

American Resources Corporation (AREC), a supplier of rare earth and critical elements, has accepted a term sheet for an investment of up to $50M into its subsidiary, ReElement Technologies, from an investment fund. The investment values ReElement Technologies at a pre-money valuation of $300M.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 11:34 am

ADM

Archer-Daniels Midland (ADM) shares are trading higher following the announcement of its Q4 financial results and the issuance of FY24 guidance. Additionally, ADM has authorized an additional $2 billion for its share repurchase program.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 11:33 am

ADM

ADM's board has authorized an additional $2B share repurchase under its ongoing 200M share repurchase program, set to run through 2024. As of December 31, 2023, about 52 million shares remain for repurchase. Since 2015, ADM has repurchased $8.6 billion of its stock under this program.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 11:07 am