Royce & Associates Cuts CPI Aero Stake to 6.1%
Ticker: CVU · Form: SC 13G/A · Filed: Jan 23, 2024 · CIK: 889348
| Field | Detail |
|---|---|
| Company | Cpi Aerostructures INC (CVU) |
| Form Type | SC 13G/A |
| Filed Date | Jan 23, 2024 |
| Risk Level | medium |
| Sentiment | bearish |
Complexity: simple
Sentiment: bearish
Topics: institutional-ownership, stake-reduction, amendment, aerospace
TL;DR
**Royce & Associates just trimmed its CPI Aero stake to 6.1%, signaling a potential bearish shift.**
AI Summary
Royce & Associates, LP, an investment firm, filed an amendment (SC 13G/A) on January 23, 2024, disclosing a change in their beneficial ownership of CPI Aerostructures, Inc. common stock. As of December 31, 2023, Royce & Associates, LP now beneficially owns 676,469 shares, representing 6.1% of the company's outstanding common stock. This is a decrease from their previous reported ownership, indicating they have sold a portion of their holdings. This matters to investors because a significant institutional investor reducing its stake could signal a less optimistic outlook on the company's future performance.
Why It Matters
A major institutional investor reducing its stake can be interpreted as a lack of confidence, potentially influencing other investors' decisions and the stock price.
Risk Assessment
Risk Level: medium — A large institutional investor reducing its position could indicate underlying concerns about the company's future, posing a moderate risk to current and prospective shareholders.
Analyst Insight
A smart investor would investigate the reasons behind Royce & Associates, LP's reduction in stake, potentially looking for any negative news or changes in CPI Aerostructures, Inc.'s fundamentals before making investment decisions.
Key Numbers
- 676,469 — Shares Beneficially Owned (This is the total number of shares of CPI Aerostructures, Inc. common stock that Royce & Associates, LP now owns, giving them significant influence.)
- 6.1% — Percentage of Class (This percentage indicates Royce & Associates, LP's ownership stake in CPI Aerostructures, Inc., showing a reduction from previous filings.)
- December 31, 2023 — Date of Event (This is the specific date when Royce & Associates, LP's ownership changed, triggering the need for this filing.)
Key Players & Entities
- Royce & Associates, LP (company) — the reporting person who filed the SC 13G/A
- CPI Aerostructures, Inc. (company) — the subject company whose stock is being reported
- 676,469 (dollar_amount) — the number of shares beneficially owned by Royce & Associates, LP
- 6.1% (dollar_amount) — the percentage of CPI Aerostructures, Inc. common stock beneficially owned by Royce & Associates, LP
- December 31, 2023 (date) — the date of the event which required the filing
- January 23, 2024 (date) — the filing date of the SC 13G/A amendment
Forward-Looking Statements
- CPI Aerostructures, Inc.'s stock price may experience downward pressure in the short term. (CPI Aerostructures, Inc.) — medium confidence, target: Q1 2024
- Other institutional investors might re-evaluate their positions in CPI Aerostructures, Inc. following this disclosure. (Institutional Investors) — medium confidence, target: Q1 2024
FAQ
What is the purpose of this SC 13G/A filing by Royce & Associates, LP?
This SC 13G/A filing is an amendment (Amendment No. 16) to a Schedule 13G, indicating a change in the beneficial ownership of common stock of CPI Aerostructures, Inc. by Royce & Associates, LP, as required by the Securities Exchange Act of 1934.
How many shares of CPI Aerostructures, Inc. common stock does Royce & Associates, LP beneficially own as of the event date?
As of December 31, 2023, Royce & Associates, LP beneficially owns 676,469 shares of CPI Aerostructures, Inc. common stock, with sole voting and sole dispositive power over these shares.
What percentage of CPI Aerostructures, Inc.'s common stock does Royce & Associates, LP now own?
Royce & Associates, LP now beneficially owns 6.1% of the outstanding common stock of CPI Aerostructures, Inc., based on the information provided in the filing.
What was the specific date that triggered the requirement for this filing?
The specific date of the event which required the filing of this statement was December 31, 2023.
What is the CUSIP number for CPI Aerostructures, Inc. common stock?
The CUSIP number for CPI Aerostructures, Inc. common stock is 125919308, as stated in the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 23, 2024 regarding CPI AEROSTRUCTURES INC (CVU).