Macquarie Group Ltd. Acquires Shares of 251,140 PDL BioPharma Inc (PDLI)

Macquarie Group Ltd. bought a new stake in PDL BioPharma Inc (NASDAQ:PDLI) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 251,140 shares of the biotechnology company’s stock, valued at approximately $851,000. Macquarie Group Ltd. owned approximately 0.16% of PDL BioPharma as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the company. Systematic Financial Management LP boosted its holdings in shares of PDL BioPharma by 0.4% in the second quarter. Systematic Financial Management LP now owns 714,640 shares of the biotechnology company’s stock valued at $1,765,000 after acquiring an additional 2,585 shares in the last quarter. Nationwide Fund Advisors boosted its holdings in PDL BioPharma by 4.7% during the second quarter. Nationwide Fund Advisors now owns 109,961 shares of the biotechnology company’s stock worth $272,000 after buying an additional 4,900 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in PDL BioPharma by 15.3% during the first quarter. Public Employees Retirement System of Ohio now owns 55,423 shares of the biotechnology company’s stock worth $126,000 after buying an additional 7,336 shares in the last quarter. Airain ltd boosted its holdings in PDL BioPharma by 21.0% during the second quarter. Airain ltd now owns 56,911 shares of the biotechnology company’s stock worth $141,000 after buying an additional 9,893 shares in the last quarter. Finally, Voya Investment Management LLC boosted its holdings in PDL BioPharma by 15.7% during the second quarter. Voya Investment Management LLC now owns 82,612 shares of the biotechnology company’s stock worth $204,000 after buying an additional 11,235 shares in the last quarter. Institutional investors and hedge funds own 88.37% of the company’s stock.

PDL BioPharma Inc (NASDAQ:PDLI) traded up $0.13 during trading on Tuesday, hitting $2.87. 1,320,000 shares of the stock were exchanged, compared to its average volume of 1,400,000. PDL BioPharma Inc has a fifty-two week low of $1.96 and a fifty-two week high of $3.55. The company has a quick ratio of 3.10, a current ratio of 3.16 and a debt-to-equity ratio of 0.14. The company has a market cap of $442.95, a P/E ratio of 5.74 and a beta of 0.46.

PDL BioPharma (NASDAQ:PDLI) last posted its earnings results on Thursday, November 2nd. The biotechnology company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $62.75 million for the quarter, compared to analyst estimates of $61.86 million. PDL BioPharma had a net margin of 24.51% and a return on equity of 9.20%. PDL BioPharma’s revenue was up 17.0% compared to the same quarter last year. During the same period last year, the business posted $0.08 EPS. equities research analysts anticipate that PDL BioPharma Inc will post 0.67 EPS for the current year.

PDL BioPharma announced that its board has initiated a stock repurchase program on Monday, September 25th that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the biotechnology company to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Several equities research analysts recently commented on PDLI shares. ValuEngine upgraded shares of PDL BioPharma from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Cowen reiterated a “hold” rating and issued a $3.00 target price on shares of PDL BioPharma in a research report on Friday, October 27th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $3.33.

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PDL BioPharma Company Profile

PDL BioPharma, Inc seeks to provide return for its shareholders by acquiring and managing a portfolio of companies, products, royalty agreements and debt facilities in the biotechnology, pharmaceutical and medical device industries. The Company’s segments include income generating assets and product sales.

Institutional Ownership by Quarter for PDL BioPharma (NASDAQ:PDLI)

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