New Mountain Vantage Advisers LLC Position in Cit Group INC (CIT) Has Decreased as Market Value Rose

March 15, 2018 - By Michael Collier

Investors sentiment increased to 1.01 in Q3 2017. Its up 0.67, from 0.34 in 2017Q2. It increased, as 23 investors sold CIT shares while 91 reduced holdings. 43 funds opened positions while 72 raised stakes. 134.52 million shares or 7.51% less from 145.43 million shares in 2017Q2 were reported. Westpac invested in 10,868 shares or 0.01% of the stock. Goldman Sachs Grp Inc Inc accumulated 1.91M shares or 0.02% of the stock. Dalton Greiner Hartman Maher And reported 275,170 shares or 0.76% of all its holdings. Hbk LP reported 78,164 shares. Lombard Odier Asset Mgmt (Usa) Corp holds 0.13% or 37,977 shares. Lakewood Capital Management LP reported 7.6% stake. Eaton Vance invested in 66,161 shares. Lsv Asset Mgmt owns 3.53 million shares for 0.29% of their portfolio. Price T Rowe Incorporated Md stated it has 0% of its portfolio in CIT Group Inc. (NYSE:CIT). Aperio Group Inc Llc stated it has 0.03% in CIT Group Inc. (NYSE:CIT). James Research Incorporated stated it has 38,745 shares. Sumitomo Mitsui Inc invested in 522,815 shares or 0.04% of the stock. First Pacific Limited Liability holds 4.06% of its portfolio in CIT Group Inc. (NYSE:CIT) for 10.79M shares. Janney Montgomery Scott Ltd Liability holds 5,256 shares or 0% of its portfolio. Gabelli Funds Lc holds 0% or 12,800 shares.

Since March 1, 2018, it had 0 insider buys, and 1 sale for $107,268 activity.

Steven B. Klinsky decreased its stake in Cit Group Inc (CIT) by 11.74% based on its latest 2017Q3 regulatory filing with the SEC. New Mountain Vantage Advisers Llc sold 151,504 shares as the company’s stock rose 7.62% with the market. The hedge fund run by Steven B. Klinsky held 1.14M shares of the consumer services company at the end of 2017Q3, valued at $55.86 million, down from 1.29M at the end of the previous reported quarter. New Mountain Vantage Advisers Llc who had been investing in Cit Group Inc for a number of months, seems to be less bullish one the $7.01 billion market cap company. The stock decreased 0.80% or $0.43 during the last trading session, reaching $53.61. About 100,859 shares traded. CIT Group Inc. (NYSE:CIT) has risen 46.21% since March 15, 2017 and is uptrending. It has outperformed by 29.51% the S&P500.

New Mountain Vantage Advisers Llc, which manages about $2.44 billion and $1.30B US Long portfolio, upped its stake in First Data Corp New by 657,734 shares to 3.04M shares, valued at $54.92M in 2017Q3, according to the filing. It also increased its holding in Allergan Plc by 15,986 shares in the quarter, for a total of 152,579 shares, and has risen its stake in Synchrony Finl (NYSE:SYF).

Analysts await CIT Group Inc. (NYSE:CIT) to report earnings on April, 24. They expect $0.97 earnings per share, up 79.63 % or $0.43 from last year’s $0.54 per share. CIT’s profit will be $126.85M for 13.82 P/E if the $0.97 EPS becomes a reality. After $0.99 actual earnings per share reported by CIT Group Inc. for the previous quarter, Wall Street now forecasts -2.02 % negative EPS growth.

More important recent CIT Group Inc. (NYSE:CIT) news were published by: which released: “CIT Names Sarah LF McAvoy as Corporate Treasurer” on March 13, 2018, also published article titled: “CIT Adds to Sales Team in Office Imaging”, published: “Why Should You Hold on to CIT Group (CIT) Stock for Now” on March 07, 2018. More interesting news about CIT Group Inc. (NYSE:CIT) was released by: and their article: “Top US bank regulator told to recuse himself from CIT Group matters” with publication date: March 07, 2018.

CIT Group Inc. (NYSE:CIT) Ratings Coverage

Among 19 analysts covering CIT Group (NYSE:CIT), 8 have Buy rating, 0 Sell and 11 Hold. Therefore 42% are positive. CIT Group has $60.0 highest and $3000 lowest target. $50.33’s average target is -6.12% below currents $53.61 stock price. CIT Group had 64 analyst reports since July 23, 2015 according to SRatingsIntel. The rating was downgraded by Stifel Nicolaus on Friday, October 7 to “Hold”. Keefe Bruyette & Woods maintained the shares of CIT in report on Thursday, September 28 with “Hold” rating. The firm has “Sell” rating by BMO Capital Markets given on Tuesday, January 30. The rating was maintained by Keefe Bruyette & Woods on Thursday, July 27 with “Hold”. The stock of CIT Group Inc. (NYSE:CIT) earned “Hold” rating by Deutsche Bank on Thursday, January 21. The stock of CIT Group Inc. (NYSE:CIT) earned “Neutral” rating by Credit Suisse on Monday, August 15. Morgan Stanley maintained CIT Group Inc. (NYSE:CIT) on Wednesday, December 13 with “Equal-Weight” rating. The firm earned “Buy” rating on Monday, November 9 by Stifel Nicolaus. Oppenheimer maintained CIT Group Inc. (NYSE:CIT) rating on Friday, August 11. Oppenheimer has “Buy” rating and $5400 target. The rating was downgraded by Sterne Agee CRT on Monday, March 28 to “Neutral”.

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