Hsbc Hldgs Plc (HSBC) Holder Verition Fund Management LLC Trimmed Its Position by $11.40 Million as Market Valuation Declined

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Verition Fund Management Llc decreased its stake in Hsbc Hldgs Plc (HSBC) by 72.73% based on its latest 2019Q2 regulatory filing with the SEC. Verition Fund Management Llc sold 278,005 shares as the company’s stock declined 7.04% . The hedge fund held 104,241 shares of the savings institutions company at the end of 2019Q2, valued at $4.35 million, down from 382,246 at the end of the previous reported quarter. Verition Fund Management Llc who had been investing in Hsbc Hldgs Plc for a number of months, seems to be less bullish one the $157.49B market cap company. The stock increased 1.11% or $0.43 during the last trading session, reaching $39.17. About 2.49 million shares traded or 1.70% up from the average. HSBC Holdings plc (NYSE:HSBC) has declined 16.63% since September 13, 2018 and is downtrending. It has underperformed by 16.63% the S&P500.

Verition Fund Management Llc, which manages about $1.22 billion and $3.56 billion US Long portfolio, upped its stake in Restoration Hardware Hldgs I (Prn) by 3.50M shares to 21.75 million shares, valued at $25.02M in 2019Q2, according to the filing. It also increased its holding in Allergan Plc (Call) by 367,514 shares in the quarter, for a total of 369,800 shares, and has risen its stake in Vodafone Group Plc New (NASDAQ:VOD).

Analysts await HSBC Holdings plc (NYSE:HSBC) to report earnings on November, 4. They expect $1.15 EPS, up 21.05 % or $0.20 from last year’s $0.95 per share. HSBC’s profit will be $4.62 billion for 8.52 P/E if the $1.15 EPS becomes a reality. After $1.05 actual EPS reported by HSBC Holdings plc for the previous quarter, Wall Street now forecasts 9.52 % EPS growth.

More notable recent HSBC Holdings plc (NYSE:HSBC) news were published by: Seekingalpha.com which released: “HSBC weighs sale of French retail bank – WSJ – Seeking Alpha” on September 11, 2019, also Finance.Yahoo.com with their article: “Stocks That Fell to 3-Year Lows in the Week of Aug. 30 – Yahoo Finance” published on September 01, 2019, Seekingalpha.com published: “HSBC – A Stumble, Not A Fall – Seeking Alpha” on June 05, 2019. More interesting news about HSBC Holdings plc (NYSE:HSBC) were released by: Fool.com and their article: “Forget HSBC: 1 Singapore Bank That Has Growing Dividends – Motley Fool” published on August 29, 2019 as well as Seekingalpha.com‘s news article titled: “HSBC +2.4% on retail, wealth management strength – Seeking Alpha” with publication date: May 03, 2019.

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