The stock of CIFC Corp (CIFC) formed a down wedge with $5.94 target or 10.00% below today’s $6.60 share price. The 6 months wedge indicates high risk for the $169.40M company. If the $5.94 price target is reached, the company will be worth $16.94M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high. The stock decreased 1.93% or $0.13 during the last trading session, hitting $6.6. About 15,222 shares traded hands or 8.31% up from the average. CIFC Corp (NASDAQ:CIFC) has declined 5.48% since May 8, 2015 and is downtrending. It has underperformed by 2.46% the S&P500.
According to Zacks Investment Research, “CIFC Corporation is a credit asset management firm. The firm serves institutional investors in North America, Europe, Asia and Australia, and manages client assets including collateralized loan obligations. CIFC conducts asset management activities through four principal subsidiaries, CIFC Asset Management LLC, Deerfield Capital Management LLC, CypressTree Investment Management, LLC and Columbus Nova Credit Investments Management LLC. CIFC Corporation is based in New York.” Get a free copy of the Zacks research report on CIFC Corp (CIFC).
The institutional sentiment decreased to 0.78 in Q3 2015. Its down 0.10, from 0.88 in 2015Q2. The ratio is negative, as 4 funds sold all CIFC Corp shares owned while 14 reduced positions. 5 funds bought stakes while 9 increased positions. They now own 6.17 million shares or 164.42% more from 2.33 million shares in 2015Q2.
Gator Capital Management Llc holds 2.7% of its portfolio in CIFC Corp for 230,416 shares. Raffles Associates Lp owns 289,516 shares or 2.17% of their US portfolio. Moreover, Punch & Associates Investment Management Inc. has 0.13% invested in the company for 131,402 shares. The Pennsylvania-based Vanguard Group Inc has invested 0.01% in the stock. American International Group Inc, a New York-based fund reported 3,553 shares.
More important recent CIFC Corp (NASDAQ:CIFC) news were published by: Globenewswire.com which released: “CIFC Corp. Announces the Closing of $40 Million Senior Notes Offering” on November 02, 2015, also Globenewswire.com published article titled: “CIFC Corp. Announces Third Quarter of 2015 Results and a Quarterly Dividend”, Prnewswire.com published: “CIFC Corp. Announces Fourth Quarter and Full Year 2014 Results and a Quarterly …” on March 18, 2015. More interesting news about CIFC Corp (NASDAQ:CIFC) was released by: Prnewswire.com and their article: “CIFC Asset Management Closes its Second CLO Refinancing of the Year” with publication date: June 05, 2015.
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