As Shaw Communications INC (SJR) Stock Value Declined, I-G Investment Management LTD Has Increased Its Stake

February 15, 2018 - By Nellie Frank

I-G Investment Management Ltd increased its stake in Shaw Communications Inc (SJR) by 6.99% based on its latest 2017Q3 regulatory filing with the SEC. I-G Investment Management Ltd bought 2.76M shares as the company’s stock declined 0.94% while stock markets rallied. The institutional investor held 42.15 million shares of the television services company at the end of 2017Q3, valued at $969.97M, up from 39.40M at the end of the previous reported quarter. I-G Investment Management Ltd who had been investing in Shaw Communications Inc for a number of months, seems to be bullish on the $10.08 billion market cap company. The stock decreased 1.03% or $0.21 during the last trading session, reaching $20.22. About 237,141 shares traded. Shaw Communications Inc. (NYSE:SJR) has risen 13.56% since February 15, 2017 and is uptrending. It has underperformed by 3.14% the S&P500.

I-G Investment Management Ltd, which manages about $19.49 billion US Long portfolio, decreased its stake in Walgreens Boots Alliance In by 72,953 shares to 415,187 shares, valued at $32.06M in 2017Q3, according to the filing. It also reduced its holding in Wells Fargo Co New (NYSE:WFC) by 663,548 shares in the quarter, leaving it with 1.67 million shares, and cut its stake in Toronto Dominion Bk Ont (NYSE:TD).

More notable recent Shaw Communications Inc. (NYSE:SJR) news were published by: Globenewswire.com which released: “Shaw Communications Completes First Phase of Total Business Transformation …” on February 15, 2018, also Fool.ca with their article: “Why You Should Swap Your Big 3 Telecoms for Shaw Communications Inc.” published on February 11, 2018, Cbc.ca published: “Shaw offers buyout packages to 6500 employees as it looks to cut workforce” on January 30, 2018. More interesting news about Shaw Communications Inc. (NYSE:SJR) were released by: Globenewswire.com and their article: “5G Americas Announces Election of Shaw Communications to its Board of Governors” published on January 25, 2018 as well as Seekingalpha.com‘s news article titled: “Shaw Communications: Significant Wireless Growth Expected In 2018 And Beyond” with publication date: January 18, 2018.

Shaw Communications Inc. (NYSE:SJR) Ratings Coverage

Among 6 analysts covering Shaw Comms (NYSE:SJR), 2 have Buy rating, 1 Sell and 3 Hold. Therefore 33% are positive. Shaw Comms had 11 analyst reports since October 20, 2015 according to SRatingsIntel. Citigroup initiated the shares of SJR in report on Thursday, April 6 with “Sell” rating. The company was maintained on Friday, October 23 by RBC Capital Markets. Barclays Capital maintained it with “Equal Weight” rating and $22 target in Friday, October 23 report. The firm earned “Sector Perform” rating on Thursday, December 17 by RBC Capital Markets. Macquarie Research upgraded the shares of SJR in report on Tuesday, October 20 to “Outperform” rating. The firm has “Outperform” rating by RBC Capital Markets given on Monday, January 9. The stock has “Equal-Weight” rating by Barclays Capital on Friday, October 27. The firm earned “Equal-Weight” rating on Tuesday, April 5 by Barclays Capital.

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