Walleye Capital LLC Sells 517,290 Shares of Platinum Group Metals Ltd. $PLG

Walleye Capital LLC reduced its stake in shares of Platinum Group Metals Ltd. (NYSE:PLG) by 80.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 128,673 shares of the company’s stock after selling 517,290 shares during the quarter. Walleye Capital LLC’s holdings in Platinum Group Metals were worth $228,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Kestra Advisory Services LLC bought a new position in Platinum Group Metals during the 1st quarter worth approximately $27,000. PFG Investments LLC bought a new stake in Platinum Group Metals in the fourth quarter valued at approximately $29,000. Dynamic Advisor Solutions LLC bought a new stake in Platinum Group Metals in the fourth quarter valued at approximately $31,000. Cetera Investment Advisers raised its holdings in Platinum Group Metals by 75.7% in the second quarter. Cetera Investment Advisers now owns 22,825 shares of the company’s stock worth $35,000 after purchasing an additional 9,834 shares during the period. Finally, Commonwealth Equity Services LLC acquired a new stake in Platinum Group Metals in the fourth quarter worth $41,000. 16.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Zacks Research raised shares of Platinum Group Metals to a “hold” rating in a report on Monday, July 13th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Platinum Group Metals Stock Down 1.5%

Platinum Group Metals stock opened at $1.28 on Friday. The company has a 50 day moving average of $1.45 and a 200-day moving average of $1.95. Platinum Group Metals Ltd. has a twelve month low of $1.18 and a twelve month high of $4.04. The stock has a market capitalization of $163.69 million, a PE ratio of -21.33 and a beta of 1.19.

Platinum Group Metals Company Profile

Platinum Group Metals Ltd is a mineral exploration and development company focused on the discovery and advancement of platinum group metal (PGM) deposits. The company’s flagship asset is the Waterberg Joint Venture Project located in South Africa’s Bushveld Complex, one of the world’s premier PGM-producing regions. In addition to its Waterberg interests, Platinum Group Metals holds the Marathon PGM project near Thunder Bay, Ontario, which is being advanced towards feasibility on the strength of its high-grade PGM and gold mineralization.

Since its inception, the company has pursued a strategy of combining regional geological expertise with strategic partnerships to de-risk project development and enhance shareholder value.