MAI Capital Management Purchases 2,578 Shares of British American Tobacco p.l.c. $BTI

MAI Capital Management boosted its position in British American Tobacco p.l.c. (NYSE:BTI) by 92.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,370 shares of the company’s stock after purchasing an additional 2,578 shares during the period. MAI Capital Management’s holdings in British American Tobacco were worth $254,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BTI. Pandora Wealth Inc. bought a new stake in shares of British American Tobacco during the first quarter worth about $32,000. State of Wyoming acquired a new stake in British American Tobacco during the 1st quarter worth approximately $57,000. UMB Bank n.a. grew its holdings in British American Tobacco by 36.4% during the 2nd quarter. UMB Bank n.a. now owns 1,371 shares of the company’s stock worth $65,000 after acquiring an additional 366 shares during the last quarter. First Horizon Advisors Inc. increased its position in British American Tobacco by 279.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,475 shares of the company’s stock valued at $70,000 after acquiring an additional 1,086 shares during the period. Finally, VSM Wealth Advisory LLC raised its stake in shares of British American Tobacco by 3,921.6% during the second quarter. VSM Wealth Advisory LLC now owns 1,488 shares of the company’s stock valued at $70,000 after acquiring an additional 1,451 shares during the last quarter. 16.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BTI has been the topic of several analyst reports. Royal Bank Of Canada cut shares of British American Tobacco from a “sector perform” rating to an “underperform” rating in a research note on Tuesday, September 2nd. Argus raised British American Tobacco from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a report on Monday, September 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of British American Tobacco in a research note on Wednesday, October 8th. Finally, Morgan Stanley restated an “underweight” rating and set a $40.00 price objective on shares of British American Tobacco in a research report on Friday, August 15th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, British American Tobacco currently has an average rating of “Hold” and an average price target of $51.00.

British American Tobacco Trading Up 2.0%

Shares of BTI opened at $57.80 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.87 and a debt-to-equity ratio of 0.68. The firm’s fifty day simple moving average is $53.05 and its two-hundred day simple moving average is $51.84. British American Tobacco p.l.c. has a 12 month low of $34.82 and a 12 month high of $59.29.

British American Tobacco Profile

British American Tobacco p.l.c. engages in the provision of tobacco and nicotine products to consumers worldwide. It also offers vapour, heated, and modern oral nicotine products; combustible cigarettes; and traditional oral products, such as snus and moist snuff. The company offers its products under the Vuse, glo, Velo, Grizzly, Kodiak, Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans, Camel, Natural American Spirit, Newport, Vogue, Viceroy, Kool, Peter Stuyvesant, Craven A, State Express 555 and Shuang Xi brands.