InterContinental Hotels (IHG), First NBC Bank (FNBC) & More: Afternoon Movers Rocking the Market

ClubCorp Holdings Inc (NYSE:MYCC) shares received a 7.26% blow today after Goldman Sachs initiated coverage on the stock with a ‘Neutral’ rating and $16 price target, slightly below what shares traded at to start the day. Imperial Capital is more bullish on the stock, having raised its rating on it to ‘Outperform’ from ‘In-Line’ on September 16, and raising its price target on it to $21 from $14. Imperial Capital analyst George Kelly believes the golf club manufacturer could be an attractive acquisition target given its recent swoon; shares are down by 18% this year. 18 hedge funds in our database were long ClubCorp Holdings Inc (NYSE:MYCC), with their holdings valued at $107 million at the end of June.

Lipocine Inc (NASDAQ:LPCN) received a major boost today, gaining over 10% thanks to positive results from its Phase 2b clinical study of LPCN 1111, an oral testosterone replacement therapy product candidate. The study was conducted to determine the optimum Phase 3 dose of LPCN 1111 along with the safety and tolerability of it and its metabolites through oral administration of single and multiple doses in hypogonadal males. The study’s primary objectives were met, with the dose to be tested in the upcoming phase 3 study having been well tolerated. Nine hedge funds that we track held about $11 million worth of Lipocine Inc (NASDAQ:LPCN)’s stock as of the end of the June quarter, down from 12 funds holding $41 million in stock on March 31.

Actua Corp (NASDAQ:ACTA) has jumped by 19.99% on the news of the sale of its GovDelivery cloud-based platform to an investor consortium led by Vista Equity Partners for $153 million in cash. The deal is expected to close in the fourth quarter of 2016. Actua acquired the business for just $20 million in 2009. Actua has announced that it plans to use some of the proceeds to repurchase shares. Eight hedge funds in our database were long Actua Corp (NASDAQ:ACTA) at the end of June, owning 2.90% of its float.

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