Ryan Specialty price target raised to $92 from $89 at BofA
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Read More on RYAN:
Ryan Specialty price target lowered to $76 from $77 at Keefe Bruyette
Buy Recommendation for Ryan Specialty Group Amid Strong Financial Performance and Growth Prospects
Strong Financial Performance and Strategic Investments Propel Ryan Specialty Group to 'Buy' Rating
Ryan Specialty Reports Strong Q4 2024 Growth
Ryan Specialty reports Q4 adjusted EPS 45c, consensus 45c

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Miami Herald
an hour ago
- Miami Herald
Cathie Wood buys $45 million of battered megacap tech stock
Cathie Wood doesn't give up on companies she believes in. The Ark Invest chief is known for sticking with tech stocks she sees as "disruptive", often buying even when they face setbacks. This is what she just did, adding to a high-profile tech stock amid a post-earnings dip. Wood's funds have experienced a volatile ride this year, swinging from sharp losses to strong gains. In January and February, the Ark funds rallied as investors bet on the Trump administration's potential deregulation that could benefit Wood's tech bets. But that momentum hit hard in March and April, with the funds trailing the market as top holdings slid amid growing concerns over the macroeconomy and trade policies. Now, the fund is regaining momentum. As of July 25, the flagship Ark Innovation ETF (ARKK) is up 33.3% year-to-date, far outpacing the S&P 500's 8.6% gain. Wood's remarkable return of 153% in 2020 helped build her reputation and attract loyal investors. Her strategy can lead to sharp gains during bull markets but also painful losses, like in 2022, when ARKK tumbled more than 60%. As of July 25, Ark Innovation ETF, with $6.8 billion under management, has delivered a five-year annualized return of negative 0.03%. The S&P 500 has an annualized return of 16.46% over the same period. Wood's investment strategy is straightforward: Her Ark ETFs typically buy shares in emerging high-tech companies in fields such as artificial intelligence, blockchain, biomedical technology and robotics. According to Wood, these companies have the potential to reshape industries, but their volatility leads to major fluctuations in Ark funds' values. Related: Cathie Wood's net worth: The Ark Invest CEO's wealth & income The Ark Innovation ETF wiped out $7 billion in investor wealth over the 10 years ending in 2024, according to an analysis by Morningstar's analyst Amy Arnott. That made it the third-biggest wealth destroyer among mutual funds and ETFs in Arnott's ranking. Wood recently said the U.S. is coming out of a three-year "rolling recession" and heading into a productivity-led recovery that could trigger a broader bull market. In a letter to investors published in late April, she dismissed predictions of a recession dragging into 2026 and struck an optimistic tone for tech stocks. "During the current turbulent transition in the US, we think consumers and businesses are likely to accelerate the shift to technologically enabled innovation platforms including artificial intelligence, robotics, energy storage, blockchain technology, and multiomics sequencing," she said. But not all investors share this optimism. Through July 10, the Ark Innovation ETF saw nearly $2 billion in net outflows over the past 12 months, according to ETF research firm VettaFi. On July 24, the day when Tesla (TSLA) dropped 8.2% following its second-quarter earnings, Wood's Ark funds snapped up 143,190 shares worth around $45.3 million. This was one of Wood's largest recent purchases. Tesla's Q2 earnings were quite dismal. The electric vehicle maker reported a 16% drop in automotive revenue as vehicle sales declined for the second straight quarter. Related: Analysts turn heads with new Alphabet stock price target after earnings The company posted adjusted earnings of 40 cents per share, missing the 43 cents expected. Revenue came in at $22.50 billion, slightly below the $22.74 billion forecast. "We probably could have a few rough quarters. I am not saying that we will, but we could," CEO Elon Musk said. Tesla is grappling with growing challenges, from the rise of lower-cost electric vehicle competitors, especially in China, to a political backlash against Musk that has damaged the brand in the U.S. and Europe. But that hasn't stopped Wood, a longtime supporter of Tesla, from doubling down. "We've been dealing with controversy around Elon Musk in one form or another since we first bought the stock," Wood said in a recent interview with Bloomberg. "We do trust the board and the board's instincts here and we stay out of politics." She also noted that Musk seems more focused on the business again, especially after he decided to take charge of sales in the US and Europe. "One of the announcements Elon made recently is that he is going to oversee sales in the US and in Europe," Wood said. "When he puts his mind on something, he usually gets the job done. So I think he's much less distracted now than he was, let's say, in the White House 24/7." Back in March, Wood predicted Tesla's stock would reach $2,600 in five years, which is nearly nine times higher than where it trades now. Much of the optimism is driven by the company's highly anticipated robotaxi, which Wood believes will account for 90% of the company's value. Musk said during the earnings call that Tesla's robotaxi service, which the company has recently started testing in Austin, Texas, will expand to other states, with a goal of covering half the U.S. population by year-end pending regulatory approvals. "That's at least our goal, subject to regulatory approvals. I think we will technically be able to do it," he said. Tesla stock is down more than 21% year-to-date. The stock has long been Wood's biggest holding, accounting for 9.6% of the Ark Innovation ETF. Related: Analysts unveil bold Amazon stock price target before earnings The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.


Business Insider
an hour ago
- Business Insider
Northern Star Resources Ltd (NESRF) Gets a Buy from Jefferies
In a report released on July 25, Mitch Ryan from Jefferies maintained a Buy rating on Northern Star Resources Ltd, with a price target of A$19.50. The company's shares closed last Friday at $10.80. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. According to TipRanks, Ryan is a 4-star analyst with an average return of 12.5% and a 65.96% success rate. Ryan covers the Basic Materials sector, focusing on stocks such as Lynas Rare Earths , Northern Star Resources Ltd, and Boss Energy . In addition to Jefferies, Northern Star Resources Ltd also received a Buy from Canaccord Genuity's Tim McCormack in a report issued on July 25. However, on the same day, UBS maintained a Hold rating on Northern Star Resources Ltd (Other OTC: NESRF). The company has a one-year high of $15.27 and a one-year low of $8.57. Currently, Northern Star Resources Ltd has an average volume of 11.06K.


Business Insider
an hour ago
- Business Insider
Jefferies Sticks to Their Buy Rating for Lynas Rare Earths (LYSCF)
In a report released on July 25, Mitch Ryan from Jefferies maintained a Buy rating on Lynas Rare Earths , with a price target of A$12.50. The company's shares closed last Friday at $7.07. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Ryan covers the Basic Materials sector, focusing on stocks such as Lynas Rare Earths , Northern Star Resources Ltd, and Boss Energy . According to TipRanks, Ryan has an average return of 12.5% and a 65.96% success rate on recommended stocks. In addition to Jefferies, Lynas Rare Earths also received a Buy from CLSA's Jonathan Sharp in a report issued on July 25. However, on the same day, Canaccord Genuity downgraded Lynas Rare Earths (Other OTC: LYSCF) to a Hold. The company has a one-year high of $7.64 and a one-year low of $3.68. Currently, Lynas Rare Earths has an average volume of 75.21K.