Rhumbline Advisers lifted its position in shares of NewAge, Inc. (NASDAQ:NBEV) by 16.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 105,217 shares of the company’s stock after buying an additional 14,831 shares during the quarter. Rhumbline Advisers’ holdings in NewAge were worth $277,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Renaissance Technologies LLC lifted its stake in shares of NewAge by 98.2% during the fourth quarter. Renaissance Technologies LLC now owns 68,950 shares of the company’s stock valued at $181,000 after buying an additional 34,160 shares during the period. Panagora Asset Management Inc. lifted its stake in shares of NewAge by 448.0% during the 4th quarter. Panagora Asset Management Inc. now owns 17,888 shares of the company’s stock worth $47,000 after purchasing an additional 14,624 shares during the period. Rikoon Group LLC boosted its holdings in shares of NewAge by 15.5% during the fourth quarter. Rikoon Group LLC now owns 18,645 shares of the company’s stock worth $34,000 after purchasing an additional 2,500 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of NewAge by 22.7% in the fourth quarter. Wells Fargo & Company MN now owns 151,666 shares of the company’s stock valued at $397,000 after purchasing an additional 28,038 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in NewAge by 21.6% in the fourth quarter. Bank of New York Mellon Corp now owns 303,851 shares of the company’s stock valued at $799,000 after purchasing an additional 53,977 shares during the last quarter. 21.35% of the stock is owned by institutional investors and hedge funds.
Separately, Zacks Investment Research cut NewAge from a “hold” rating to a “sell” rating in a report on Tuesday, March 9th.
New Age Beverages Corporation develops, markets, sells, and distributes healthy liquid dietary supplements and ready-to-drink (RTD) beverages. The company offers RTD tea, coffee, kombucha, energy drinks, relaxation drinks, coconut waters, functional waters, and rehydration beverages, as well as functional medical beverages.
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