NuWave Investment Management LLC Has $55,000 Stake in TD Ameritrade Holding Corp. (NASDAQ:AMTD)

NuWave Investment Management LLC boosted its holdings in shares of TD Ameritrade Holding Corp. (NASDAQ:AMTD) by 333.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,608 shares of the financial services provider’s stock after purchasing an additional 1,237 shares during the period. NuWave Investment Management LLC’s holdings in TD Ameritrade were worth $55,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in AMTD. MUFG Americas Holdings Corp bought a new position in TD Ameritrade in the 2nd quarter valued at $25,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in TD Ameritrade in the 2nd quarter valued at $32,000. Steward Partners Investment Advisory LLC bought a new position in TD Ameritrade in the 2nd quarter valued at $35,000. CSat Investment Advisory L.P. bought a new position in TD Ameritrade in the 2nd quarter valued at $83,000. Finally, Cerebellum GP LLC bought a new position in TD Ameritrade in the 3rd quarter valued at $126,000. 91.60% of the stock is owned by hedge funds and other institutional investors.

Shares of AMTD traded up $0.42 during midday trading on Friday, hitting $36.69. The stock had a trading volume of 1,887,598 shares, compared to its average volume of 7,945,794. The company has a 50 day simple moving average of $42.94 and a two-hundred day simple moving average of $48.60. TD Ameritrade Holding Corp. has a twelve month low of $32.69 and a twelve month high of $57.88. The firm has a market cap of $19.98 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 1.30 and a beta of 1.21. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.16 and a quick ratio of 1.15.

TD Ameritrade (NASDAQ:AMTD) last released its quarterly earnings results on Monday, July 22nd. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.07. TD Ameritrade had a return on equity of 27.13% and a net margin of 36.07%. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter last year, the business posted $0.89 EPS. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. Analysts forecast that TD Ameritrade Holding Corp. will post 4.04 EPS for the current fiscal year.

A number of brokerages have commented on AMTD. UBS Group lowered TD Ameritrade from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $40.00 to $33.00 in a research report on Monday, October 7th. Barclays lowered TD Ameritrade from an “overweight” rating to an “underweight” rating and reduced their price target for the stock from $57.00 to $31.00 in a research report on Wednesday, October 2nd. Wells Fargo & Co lowered TD Ameritrade from an “outperform” rating to an “underperform” rating and reduced their price target for the stock from $58.00 to $30.00 in a research report on Thursday, October 3rd. Deutsche Bank reduced their price target on TD Ameritrade from $46.00 to $34.00 and set a “hold” rating on the stock in a research report on Wednesday, October 2nd. Finally, BidaskClub lowered TD Ameritrade from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $43.64.

About TD Ameritrade

TD Ameritrade Holding Corporation provides securities brokerage and related technology-based financial services to retail investors and traders, and independent registered investment advisors (RIAs) in the United States. It offers trade execution, clearing, and margin lending services; futures and foreign exchange trade execution services; and trustee, custodial, and other trust-related services to retirement plans and other custodial accounts, as well as provides cash sweep and deposit account products through third-party relationships.

Further Reading: Gross Domestic Product (GDP)

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Institutional Ownership by Quarter for TD Ameritrade (NASDAQ:AMTD)

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