British American Tobacco (NYSE:BTI) Shares Gap Down – Here’s What Happened

British American Tobacco p.l.c. (NYSE:BTI)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $35.37, but opened at $34.43. British American Tobacco shares last traded at $34.44, with a volume of 899,008 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. StockNews.com cut shares of British American Tobacco from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 11th. Barclays upgraded British American Tobacco to a “strong-buy” rating in a report on Thursday. Finally, Morgan Stanley cut British American Tobacco from an “overweight” rating to an “underweight” rating and set a $33.00 price objective on the stock. in a report on Thursday, October 3rd.

British American Tobacco Trading Down 2.5 %

The firm has a market capitalization of $76.63 billion, a price-to-earnings ratio of 7.14 and a beta of 0.52. The business’s fifty day moving average is $36.90 and its 200 day moving average is $33.33. The company has a quick ratio of 0.58, a current ratio of 0.88 and a debt-to-equity ratio of 0.60.

Institutional Trading of British American Tobacco

Hedge funds and other institutional investors have recently modified their holdings of the company. Natixis Advisors LLC boosted its position in British American Tobacco by 29.9% during the 2nd quarter. Natixis Advisors LLC now owns 2,667,339 shares of the company’s stock worth $82,501,000 after acquiring an additional 614,634 shares during the last quarter. Kize Capital LP acquired a new position in British American Tobacco during the second quarter worth $10,826,000. Gateway Investment Advisers LLC grew its position in British American Tobacco by 384.5% in the second quarter. Gateway Investment Advisers LLC now owns 327,007 shares of the company’s stock valued at $10,114,000 after purchasing an additional 259,509 shares in the last quarter. First Eagle Investment Management LLC lifted its position in British American Tobacco by 42.5% during the 1st quarter. First Eagle Investment Management LLC now owns 722,462 shares of the company’s stock worth $22,035,000 after buying an additional 215,305 shares in the last quarter. Finally, Manning & Napier Advisors LLC acquired a new position in shares of British American Tobacco during the 2nd quarter worth about $6,153,000. Institutional investors and hedge funds own 21.44% of the company’s stock.

British American Tobacco Company 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.