As Cdn Imperial Bk Comm Toronto (CM) Stock Rose, Shareholder Acadian Asset Management LLC Cut Stake

September 16, 2018 - By Alicia Butler

Canadian Imperial Bank of Commerce (NYSE:CM) Logo

Acadian Asset Management Llc decreased its stake in Cdn Imperial Bk Comm Toronto (CM) by 8.5% based on its latest 2018Q2 regulatory filing with the SEC. Acadian Asset Management Llc sold 544,099 shares as the company’s stock rose 5.78% with the market. The institutional investor held 5.86 million shares of the commercial banks company at the end of 2018Q2, valued at $509.02M, down from 6.40M at the end of the previous reported quarter. Acadian Asset Management Llc who had been investing in Cdn Imperial Bk Comm Toronto for a number of months, seems to be less bullish one the $42.07B market cap company. The stock decreased 0.14% or $0.13 during the last trading session, reaching $94.01. About 211,580 shares traded. Canadian Imperial Bank of Commerce (NYSE:CM) has risen 7.69% since September 16, 2017 and is uptrending. It has underperformed by 7.93% the S&P500.

Acadian Asset Management Llc, which manages about $65.15B and $23.13B US Long portfolio, upped its stake in Quinstreet Inc (NASDAQ:QNST) by 547,696 shares to 1.43 million shares, valued at $18.12 million in 2018Q2, according to the filing. It also increased its holding in Rogers Communications Inc (NYSE:RCI) by 162,200 shares in the quarter, for a total of 2.49 million shares, and has risen its stake in American Public Education In (NASDAQ:APEI).

Analysts await Canadian Imperial Bank of Commerce (NYSE:CM) to report earnings on November, 29. They expect $2.26 earnings per share, up 0.44 % or $0.01 from last year’s $2.25 per share. CM’s profit will be $1.01B for 10.40 P/E if the $2.26 EPS becomes a reality. After $2.38 actual earnings per share reported by Canadian Imperial Bank of Commerce for the previous quarter, Wall Street now forecasts -5.04 % negative EPS growth.

More news for Canadian Imperial Bank of Commerce (NYSE:CM) were recently published by: Seekingalpha.com, which released: “Canadian Imperial Bank of Commerce (CM) CEO Victor Dodig on Q3 2018 Results – Earnings Call Transcript” on August 23, 2018. Fool.ca‘s article titled: “Can Canada Housing Finish Strong in 2018?” and published on September 16, 2018 is yet another important article.

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