As Cit Group INC (CIT) Market Valuation Rose, Shareholder Owl Creek Asset Management LP Cut by $33.09 Million Its Stake

March 14, 2018 - By Kurt Siggers

Investors sentiment increased to 1.01 in Q3 2017. Its up 0.67, from 0.34 in 2017Q2. It is positive, as 23 investors sold CIT shares while 91 reduced holdings. 43 funds opened positions while 72 raised stakes. 134.52 million shares or 7.51% less from 145.43 million shares in 2017Q2 were reported. Bank Of New York Mellon Corporation invested in 0.01% or 791,911 shares. Rafferty Asset Mgmt Limited Liability Co accumulated 32,082 shares or 0.04% of the stock. Dekabank Deutsche Girozentrale accumulated 11,596 shares. Cap Research Glob Invsts owns 12.07 million shares. State Of Wisconsin Invest Board owns 0% invested in CIT Group Inc. (NYSE:CIT) for 17,659 shares. Sumitomo Mitsui Asset Mgmt Limited accumulated 0.01% or 10,574 shares. Andra Ap accumulated 39,300 shares or 0.05% of the stock. Oregon Public Employees Retirement Fund has invested 0.01% in CIT Group Inc. (NYSE:CIT). Bnp Paribas Arbitrage holds 0.01% of its portfolio in CIT Group Inc. (NYSE:CIT) for 58,095 shares. Hahn Management Ltd Liability Com reported 407,554 shares or 1.98% of all its holdings. Hudock Grp Limited Com owns 509 shares for 0.01% of their portfolio. Moreover, Oak Assoc Limited Oh has 1.44% invested in CIT Group Inc. (NYSE:CIT). Kenmare Prns Ltd Liability Co holds 0.92% of its portfolio in CIT Group Inc. (NYSE:CIT) for 15,200 shares. Evercore Wealth Mgmt Ltd has invested 0% in CIT Group Inc. (NYSE:CIT). Pinebridge LP owns 48,903 shares or 0.06% of their US portfolio.

Since March 1, 2018, it had 0 insider buys, and 1 sale for $107,268 activity.

Jeffrey Altman decreased its stake in Cit Group Inc (CIT) by 21.67% based on its latest 2017Q3 regulatory filing with the SEC. Owl Creek Asset Management Lp sold 675,400 shares as the company’s stock rose 7.62% with the market. The hedge fund run by Jeffrey Altman held 2.44M shares of the consumer services company at the end of 2017Q3, valued at $119.75M, down from 3.12M at the end of the previous reported quarter. Owl Creek Asset Management Lp who had been investing in Cit Group Inc for a number of months, seems to be less bullish one the $7.07 billion market cap company. The stock decreased 1.03% or $0.56 during the last trading session, reaching $54.04. About 824,284 shares traded. CIT Group Inc. (NYSE:CIT) has risen 46.21% since March 14, 2017 and is uptrending. It has outperformed by 29.51% the S&P500.

Analysts await CIT Group Inc. (NYSE:CIT) to report earnings on April, 24. They expect $0.97 earnings per share, up 79.63 % or $0.43 from last year’s $0.54 per share. CIT’s profit will be $126.85 million for 13.93 P/E if the $0.97 EPS becomes a reality. After $0.99 actual earnings per share reported by CIT Group Inc. for the previous quarter, Wall Street now forecasts -2.02 % negative EPS growth.

More recent CIT Group Inc. (NYSE:CIT) news were published by: which released: “Why Should You Hold on to CIT Group (CIT) Stock for Now” on March 07, 2018. Also published the news titled: “CIT Names Sarah LF McAvoy as Corporate Treasurer” on March 13, 2018.‘s news article titled: “CIT Group’s (CIT) Outlook Upgraded to Positive by Moody’s” with publication date: March 07, 2018 was also an interesting one.

CIT Group Inc. (NYSE:CIT) Ratings Coverage

Among 19 analysts covering CIT Group (NYSE:CIT), 8 have Buy rating, 0 Sell and 11 Hold. Therefore 42% are positive. CIT Group had 64 analyst reports since July 23, 2015 according to SRatingsIntel. The company was maintained on Thursday, September 28 by Keefe Bruyette & Woods. The rating was maintained by Oppenheimer with “Outperform” on Tuesday, January 5. The stock of CIT Group Inc. (NYSE:CIT) has “Buy” rating given on Wednesday, April 26 by Bank of America. The company was maintained on Friday, August 11 by Oppenheimer. As per Thursday, January 21, the company rating was initiated by Deutsche Bank. Keefe Bruyette & Woods maintained CIT Group Inc. (NYSE:CIT) rating on Thursday, December 21. Keefe Bruyette & Woods has “Hold” rating and $53.0 target. The stock has “Equal-Weight” rating by Morgan Stanley on Monday, September 18. The rating was maintained by Keefe Bruyette & Woods with “Hold” on Monday, August 28. The firm has “Underperform” rating by BMO Capital Markets given on Wednesday, October 25. Goldman Sachs reinitiated CIT Group Inc. (NYSE:CIT) on Friday, August 14 with “Neutral” rating.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our free daily email newsletter: