Squarepoint Ops LLC Takes $586,000 Position in OR Royalties Inc. $OR

Squarepoint Ops LLC bought a new position in shares of OR Royalties Inc. (NYSE:OR) during the second quarter, Holdings Channel reports. The fund bought 22,810 shares of the basic materials company’s stock, valued at approximately $586,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. B. Riley Wealth Advisors Inc. purchased a new position in shares of OR Royalties during the 2nd quarter valued at $628,000. Newbridge Financial Services Group Inc. bought a new stake in OR Royalties during the second quarter valued at $451,000. Advisory Services Network LLC purchased a new position in OR Royalties during the second quarter worth about $798,000. State of Tennessee Department of Treasury increased its stake in OR Royalties by 12.9% in the 2nd quarter. State of Tennessee Department of Treasury now owns 303,360 shares of the basic materials company’s stock worth $7,781,000 after acquiring an additional 34,700 shares during the last quarter. Finally, Vident Advisory LLC raised its holdings in shares of OR Royalties by 2.0% in the 2nd quarter. Vident Advisory LLC now owns 42,349 shares of the basic materials company’s stock valued at $1,089,000 after acquiring an additional 820 shares in the last quarter. 68.52% of the stock is currently owned by hedge funds and other institutional investors.

OR Royalties Stock Performance

OR stock opened at $37.04 on Thursday. The company has a market capitalization of $6.96 billion, a PE ratio of 46.89 and a beta of 0.81. OR Royalties Inc. has a one year low of $17.55 and a one year high of $42.25. The company’s 50 day moving average price is $33.98 and its two-hundred day moving average price is $32.18.

OR Royalties (NYSE:OR) last released its earnings results on Wednesday, November 5th. The basic materials company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.19 by $0.03. The company had revenue of $71.63 million for the quarter, compared to analyst estimates of $53.85 million. OR Royalties had a net margin of 60.72% and a return on equity of 10.67%. On average, research analysts predict that OR Royalties Inc. will post 0.62 EPS for the current year.

OR Royalties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, December 31st. OR Royalties’s payout ratio is 27.85%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wall Street Zen raised OR Royalties from a “buy” rating to a “strong-buy” rating in a report on Friday, November 28th. Raymond James Financial upgraded shares of OR Royalties from a “market perform” rating to an “outperform” rating and set a $41.00 target price for the company in a research report on Thursday, November 6th. Zacks Research lowered shares of OR Royalties from a “strong-buy” rating to a “hold” rating in a report on Friday, December 19th. Weiss Ratings restated a “buy (b)” rating on shares of OR Royalties in a research report on Monday. Finally, Scotiabank lowered shares of OR Royalties from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from $33.00 to $41.00 in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $35.75.

OR Royalties Company Profile

OR Royalties PLC (NYSE: OR) is a closed-ended investment company that specializes in acquiring and managing royalty interests in life science and pharmaceutical products. The company provides capital to biotechnology, specialty pharmaceutical and medical device companies in exchange for a share of future sales revenues. By focusing on royalties secured against marketed products, OR Royalties aims to deliver income and growth potential while minimizing the development and commercialization risks typically associated with direct equity stakes.

The company’s core activities include sourcing royalty transactions, structuring bespoke financing solutions and actively monitoring a diversified portfolio of assets.