SG Capital Sells Almost 732,000 Shares of Haemonetics Valued at $59.1 Million
Written by Emily J. Thompson, Senior Investment Analyst
Source: NASDAQ.COM
SG Capital's Share Sale: SG Capital Management LLC sold 731,892 shares of Haemonetics Corporation, reducing its stake to 175,000 shares, which now represents 0.8% of its assets under management.
Haemonetics' Financial Performance: The company reported a 5% decline in revenue for the fiscal second quarter, with management projecting a slight improvement in full-year revenue guidance.
Market Reaction: Following the earnings release, Haemonetics' share price increased by 35%, despite ongoing concerns about its revenue growth.
3G Capital's Exit Strategy: 3G Capital is likely exiting its position in Haemonetics after significantly reducing its stake, as the company's shares have underperformed compared to the S&P 500 index.
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Analyst Views on WLY
About WLY
John Wiley & Sons, Inc., is a publisher. The Company's content, services, platforms, and knowledge networks are tailored to meet the needs of its customers and partners, including researchers, students, instructors, professionals, institutions, and corporations. Its segments include Research, Learning and Held for Sale or Sold. Research segment provides peer-reviewed scientific, technical, and medical (STM) publishing, content platforms, and related services to academic, corporate, and government customers, academic societies, and individual researchers. Its journal publishing categories include the social sciences and humanities, and life sciences. Learning segment provides scientific, professional, and education print and digital books, digital courseware to libraries, corporations, students, professionals, and researchers, as well as assessment services to businesses and professionals. Its operations are located in the United States, United Kingdom, India, Sri Lanka, and Germany.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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