BlackRock LT Municipal Advantage Trust (NYSE:BTA)‘s stock had its “sell” rating reaffirmed by stock analysts at Deutsche Bank AG in a research note issued to investors on Monday. They currently have a GBX 265 ($3.46) target price on the financial services provider’s stock.
Several other analysts have also issued reports on the company. Jefferies Group LLC cut their price target on BlackRock LT Municipal Advantage Trust from GBX 325 ($4.24) to GBX 280 ($3.66) and set a “hold” rating for the company in a report on Wednesday, May 31st. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a GBX 340 ($4.44) price objective on shares of BlackRock LT Municipal Advantage Trust in a research report on Wednesday, June 21st. HSBC Holdings plc lowered their price objective on BlackRock LT Municipal Advantage Trust from GBX 420 ($5.48) to GBX 370 ($4.83) and set a “buy” rating on the stock in a research report on Friday, April 21st. Royal Bank Of Canada lowered their price objective on BlackRock LT Municipal Advantage Trust from GBX 425 ($5.55) to GBX 410 ($5.35) and set an “outperform” rating on the stock in a research report on Friday, May 12th. Finally, Barclays PLC lowered their price objective on BlackRock LT Municipal Advantage Trust from GBX 475 ($6.20) to GBX 450 ($5.88) and set an “overweight” rating on the stock in a research report on Friday, May 12th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $355.36.
Shares of BlackRock LT Municipal Advantage Trust (NYSE:BTA) traded down 0.58% on Monday, reaching $11.97. The company’s stock had a trading volume of 7,591 shares. BlackRock LT Municipal Advantage Trust has a 52-week low of $10.73 and a 52-week high of $13.18. The stock has a 50-day moving average of $11.89 and a 200 day moving average of $11.62.
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A number of hedge funds have recently bought and sold shares of BTA. Oppenheimer & Co. Inc. raised its stake in BlackRock LT Municipal Advantage Trust by 27.1% in the first quarter. Oppenheimer & Co. Inc. now owns 17,100 shares of the financial services provider’s stock worth $196,000 after buying an additional 3,650 shares in the last quarter. UBS Group AG raised its stake in BlackRock LT Municipal Advantage Trust by 16.7% in the first quarter. UBS Group AG now owns 170,825 shares of the financial services provider’s stock worth $1,958,000 after buying an additional 24,489 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in BlackRock LT Municipal Advantage Trust during the first quarter worth $132,000. Doliver Capital Advisors Inc. bought a new stake in BlackRock LT Municipal Advantage Trust during the first quarter worth $134,000. Finally, Ameriprise Financial Inc. bought a new stake in BlackRock LT Municipal Advantage Trust during the first quarter worth $133,000.
BlackRock LT Municipal Advantage Trust Company Profile
BlackRock Long-Term Municipal Advantage Trust (the Trust) is a non-diversified, closed-end management investment company. The Trust’s investment objective is to provide current income exempt from regular federal income tax. The Trust seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its assets in municipal obligations and derivative instruments with exposure to such municipal obligations, in each case that are exempt from federal income tax (except that the interest may be subject to the federal alternative minimum tax).
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