Tower Research Capital LLC TRC Buys Shares of 84,208 Covia Holdings (NASDAQ:CVIA)

Tower Research Capital LLC TRC bought a new stake in Covia Holdings (NASDAQ:CVIA) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 84,208 shares of the company’s stock, valued at approximately $165,000. Tower Research Capital LLC TRC owned about 0.06% of Covia at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CVIA. BlackRock Inc. lifted its stake in shares of Covia by 28.3% in the second quarter. BlackRock Inc. now owns 2,721,371 shares of the company’s stock valued at $5,332,000 after purchasing an additional 600,107 shares during the period. AlpInvest Partners B.V. acquired a new stake in shares of Covia in the second quarter valued at about $490,000. Northern Trust Corp lifted its stake in shares of Covia by 3.6% in the second quarter. Northern Trust Corp now owns 425,674 shares of the company’s stock valued at $834,000 after purchasing an additional 14,722 shares during the period. Ancora Advisors LLC acquired a new stake in shares of Covia in the second quarter valued at about $178,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Covia by 3.4% in the second quarter. Bank of New York Mellon Corp now owns 1,439,760 shares of the company’s stock valued at $2,822,000 after purchasing an additional 47,308 shares during the period.

NASDAQ:CVIA traded down $0.16 during mid-day trading on Tuesday, hitting $2.23. 13,430 shares of the company’s stock traded hands, compared to its average volume of 576,713. The firm’s 50 day simple moving average is $1.85 and its 200 day simple moving average is $3.24. Covia Holdings has a 1 year low of $1.28 and a 1 year high of $10.65.

Covia (NASDAQ:CVIA) last posted its earnings results on Thursday, August 8th. The company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.03). The business had revenue of $444.94 million for the quarter, compared to analysts’ expectations of $494.36 million. During the same period in the prior year, the business earned $0.14 EPS. The company’s quarterly revenue was down 12.5% compared to the same quarter last year.

In other Covia news, CFO Andrew Eich bought 20,000 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was purchased at an average cost of $1.51 per share, for a total transaction of $30,200.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

Several brokerages recently commented on CVIA. Zacks Investment Research cut shares of Covia from a “hold” rating to a “sell” rating in a research note on Thursday, September 12th. Morgan Stanley reduced their price objective on shares of Covia from $5.50 to $2.50 and set an “underweight” rating for the company in a research note on Friday, July 12th. Barclays upgraded shares of Covia from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $2.00 to $3.00 in a research note on Tuesday, August 13th. Finally, Bank of America reiterated an “underperform” rating and issued a $1.50 price objective (down previously from $4.00) on shares of Covia in a research note on Tuesday, June 25th. Five analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $5.17.

Covia Profile

Covia Holdings Corporation provides minerals and material solutions for the industrial and energy markets. The company offers various mineral solutions to the glass, ceramics, coatings, polymers, construction, water filtration, sports, and recreation markets. It also offers a range of high-purity silica sand, nepheline syenite, feldspar, clay, kaolin, lime, resin systems, and coated materials.

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Institutional Ownership by Quarter for Covia (NASDAQ:CVIA)

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