Systemax Inc. (SYX) Downgraded by Sidoti

Systemax Inc. (NYSE:SYX) was downgraded by equities researchers at Sidoti from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, November 10th, MarketBeat reports.

Separately, BidaskClub cut shares of Systemax from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st.

Shares of Systemax (NYSE SYX) traded up $0.71 during trading hours on Friday, hitting $29.50. 90,970 shares of the company’s stock were exchanged, compared to its average volume of 73,697. The firm has a market capitalization of $1,067.29, a PE ratio of 27.68 and a beta of 0.15. Systemax has a 52 week low of $7.05 and a 52 week high of $32.33.

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In related news, CEO Lawrence P. Reinhold sold 80,203 shares of the stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $26.79, for a total value of $2,148,638.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas Axmacher sold 2,886 shares of the stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $24.51, for a total transaction of $70,735.86. Following the completion of the transaction, the vice president now owns 3,211 shares of the company’s stock, valued at approximately $78,701.61. The disclosure for this sale can be found here. Insiders have sold 130,969 shares of company stock valued at $3,419,726 in the last 90 days. Insiders own 69.60% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its position in shares of Systemax by 0.7% during the 2nd quarter. Wells Fargo & Company MN now owns 6,846 shares of the company’s stock valued at $129,000 after purchasing an additional 45 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Systemax by 483.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 5,830 shares of the company’s stock valued at $154,000 after purchasing an additional 4,830 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Systemax by 193.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,520 shares of the company’s stock valued at $198,000 after purchasing an additional 6,934 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Systemax by 12.1% during the 2nd quarter. Alliancebernstein L.P. now owns 14,807 shares of the company’s stock valued at $278,000 after purchasing an additional 1,600 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of Systemax by 49.0% during the 2nd quarter. New York State Common Retirement Fund now owns 15,200 shares of the company’s stock valued at $286,000 after purchasing an additional 4,999 shares in the last quarter. Hedge funds and other institutional investors own 25.44% of the company’s stock.

About Systemax

Systemax Inc is a direct marketer of brand name and private label products. The Company’s segments are Industrial Products Group (IPG), EMEA Technology Products Group (EMEA), and Corporate and Other (Corporate). The IPG segment sells an array of maintenance, repair and operational (MRO) products, which are marketed in North America.

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