On Assignment Inc (NYSE:ASGN) Receives a Downgrade
Deutsche Bank downgraded the rating for shares of On Assignment Inc (NYSE:ASGN) to a”Hold” from a “Buy”. This important rating change was published in a recent report earlier today.
Approximately 380,296 shares of stock traded hands. On Assignment, Inc. (NYSE:ASGN) has risen 45.28% since May 6, 2015 and is uptrending. It has outperformed by 46.08% the S&P500.
The overall sentiment of institutions has decreased to 1.24 in Q2 2015. Its down 0.23, from 1.47 in 2015Q2. The ratio turned negative, as 36 institutions have sold all the shares of On Assignment, Inc. that they owned while 53 funds have taken shares off the table. 24 funds have purchased shares for the first time while 86 added to their positions. These institutions now hold 43.79 million shares or 4.59% less than the 45.90 million shares they owned in 2015Q2.
The Fund Pathstone Family Office Llc currently is holding shares equating to 54.8% of its total portfolio in On Assignment, Inc. representing a total of 550,739 shares. Another fund,Tensile Capital Management Llc, is holding a total of 832,376 shares equating to 9.19% of their holdings. Additionally, Beaconlight Capital Llc has a 199,988 share stake in On Assignment, Inc. which represents 4.47% of their total portfolio. The Fund, Hood River Capital Management Llc, based out of Oregon, has also built up a stake in the stock, which represents a total of 3.87% of their total portfolio. Finally Daruma Capital Management Llc, a fund which is based in the state of New York reported a total holdings of 1.40 million shares.
Insider activity is a very important aspect to track on any stock. Going back to March 5, 2015, shareholders of On Assignment, Inc. have witnessed 0 insider purchases, and a total of 2 sales equating to a net activity of approximately $1.40 million . Dameris Peter T sold 25,000 shares worth approximately $1.01M. Veatch Jeffrey E. sold 150,000 shares worth approximately $5.84M. Sheridan Edwin A. sold 37,217 shares worth approximately $1.45 million. Matin Arshad sold 1,500 shares worth approximately $58,490. The company insider Mcgowan Michael sold 3,124 shares worth $119,578.
On Assignment, Inc. is a global provider of professionals in the information technology , engineering and life sciences sectors. The company has a market cap of $2.47 billion. The Firm matches people into positions for contract, contract-to-hire and direct hire assignments. It has 32.44 P/E ratio. The Company’s operating divisions include Apex, Oxford and Life Sciences Europe.
According to Zacks Investment Research, “On Assignment, Inc., through its first operating division, Lab Support, is a leading nationwide provider of temporary scientific professionals to laboratories in the biotechnology, pharmaceutical, food and beverage, chemical, and environmental industries. The company’s strategy is to serve the needs of targeted industries for quality assignments of temporary professionals.” Get a free copy of the Zacks research report on On Assignment, Inc. (ASGN).