Catalyst Capital Advisors LLC decreased its holdings in Blackline Inc (NASDAQ:BL) by 3.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,452 shares of the technology company’s stock after selling 336 shares during the period. Catalyst Capital Advisors LLC’s holdings in Blackline were worth $499,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC raised its stake in shares of Blackline by 47.1% during the first quarter. FMR LLC now owns 1,130,651 shares of the technology company’s stock valued at $52,372,000 after purchasing an additional 361,839 shares in the last quarter. Cortina Asset Management LLC bought a new stake in Blackline in the second quarter worth about $5,390,000. Copper Rock Capital Partners LLC raised its position in Blackline by 30.4% in the second quarter. Copper Rock Capital Partners LLC now owns 466,243 shares of the technology company’s stock worth $24,949,000 after acquiring an additional 108,655 shares in the last quarter. Schwab Charitable Fund bought a new stake in Blackline in the second quarter worth about $286,000. Finally, Riverbridge Partners LLC raised its position in Blackline by 33.7% in the second quarter. Riverbridge Partners LLC now owns 1,906,518 shares of the technology company’s stock worth $102,018,000 after acquiring an additional 481,071 shares in the last quarter. Institutional investors own 84.43% of the company’s stock.
Several brokerages have commented on BL. ValuEngine cut shares of Blackline from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. KeyCorp boosted their price target on shares of Blackline from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. TheStreet upgraded shares of Blackline from a “d+” rating to a “c” rating in a research report on Monday, October 28th. First Analysis began coverage on shares of Blackline in a research report on Friday, October 4th. They issued an “outperform” rating and a $55.00 price target on the stock. Finally, BidaskClub upgraded shares of Blackline from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Blackline presently has an average rating of “Hold” and a consensus target price of $52.50.
Shares of Blackline stock opened at $50.40 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.04. The company’s 50-day moving average price is $47.51 and its two-hundred day moving average price is $49.72. Blackline Inc has a 52 week low of $34.01 and a 52 week high of $56.29. The stock has a market cap of $2.75 billion, a PE ratio of -193.85 and a beta of 0.75.
Blackline (NASDAQ:BL) last issued its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.03 by $0.09. Blackline had a negative net margin of 11.36% and a negative return on equity of 4.61%. The firm had revenue of $74.93 million for the quarter, compared to analysts’ expectations of $72.33 million. Blackline’s revenue for the quarter was up 27.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.07 earnings per share. On average, equities analysts predict that Blackline Inc will post -0.28 EPS for the current fiscal year.
BlackLine, Inc provides financial accounting close solutions delivered primarily as Software as a Service in the United States and internationally. Its solutions enable its customers to address various aspects of their financial closing process, including account reconciliations, variance analysis of account balances, journal entry capabilities, and range of data matching capabilities.
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