Bridgeway Capital Rebalances
Bridgeway Capital Management Reduces Stakes in Dole, Signet, and Several Public Companies
Anonymous
Key Points
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For Dole, Bridgeway sold 286,867 shares in the fourth quarter to end with 859,387 shares worth about $12.882 million, and other large managers added as well (e.g., Victory Capital up 1.0%, Dimensional Fund Advisors up 13.7%, Nuveen up 0.9%).
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For Signet Jewelers, the company disclosed a dividend of $0.35 per share payable Friday, Aug. 21, with investors of record as of Friday, July 24—while Bridgeway’s stake represented 0.69% of SIG and was valued at about $23.315 million.
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In Tutor Perini, institutional ownership is stated at 65.01%, and several funds increased stakes sharply even as Bridgeway trimmed—Counterpoint Mutual Funds jumped 491.0% (to 49,139 shares) and GSA Capital Partners rose 73.6% (to 53,367 shares), according to the SEC-based reporting.
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For Teekay Tankers, analyst actions included Bank of America raising its price target from $69.00 to $75.00 but keeping an “underperform” rating, alongside multiple upgrades (e.g., Zacks upgraded from “hold” to “strong-buy,” and Wall Street Zen moved from “buy” to “strong-buy”).
Bridgeway Capital Management LLC cut its stake in Dole PLC by 25% in the fourth quarter, selling 286,867 shares to end with 859,387 shares worth about $12.9 million, according to Ticker Report. The Houston-based quantitative fund also trimmed positions in Signet Jewelers, Tutor Perini, and Teekay Tankers during the same period.
The moves reflect a cautious rebalancing by Bridgeway even as other large institutions moved in the opposite direction — adding to the very stocks Bridgeway was selling.
Deutsche Bank Downgrade Shadows Dole's Thin Margins
Dole PLC is under pressure from multiple directions. Deutsche Bank analyst Christopher Barnes downgraded the stock from "Buy" to "Hold" in March 2026, warning of a "material drag to EBITDA generation" from a stronger dollar and rising input costs. Dole's gross margin sits at just 7.79%, leaving little cushion if logistics costs keep climbing.
Not everyone is walking away. Dimensional Fund Advisors increased its Dole stake by 13.7% in the same quarter Bridgeway was selling. Victory Capital added 1.0% and Nuveen added 0.9%. The divergence shows institutions are reading the same data very differently.
Tutor Perini Sees a 491% Surge From One New Buyer
Bridgeway sold 41,733 shares of construction contractor Tutor Perini, cutting its position by 10.6% to 352,076 shares, according to Ticker Report. Yet other funds rushed in. Counterpoint Mutual Funds exploded its stake by 491%, buying up to 49,139 shares. GSA Capital Partners grew its holding by 73.6% to 53,367 shares.
Institutional ownership of Tutor Perini now stands at 65.01%, per SEC filings. The massive buy from Counterpoint signals strong conviction in the company's backlog of infrastructure projects — a sharp contrast to Bridgeway's trimming.
Teekay Tankers Gets Upgrades While Bridgeway Heads for the Exit
Bridgeway reduced its Teekay Tankers position by 8.7%, selling down to 271,170 shares, per Ticker Report. The timing is notable. Zacks Research upgraded Teekay to "Strong Buy" in May 2026. Wall Street Zen made the same move. CEO Kenneth Hvid credited the "unprecedented closure of the Strait of Hormuz" for pushing tanker rates to record levels.
Bank of America raised its Teekay price target from $69 to $75 in May 2026 — but kept an "Underperform" rating. That mixed signal suggests analysts are split on whether the war premium in shipping rates will last. Bridgeway appears to be betting it won't.
Signet Jewelers Declares Dividend as Bridgeway Trims Its Bet
Bridgeway cut its Signet Jewelers stake by 4.9%, selling 14,391 shares to land at 281,305 shares valued at about $23.3 million, according to Ticker Report. The position equals 0.69% of all SIG shares outstanding. Despite the trim, Signet's board approved a $0.35 per share dividend, payable August 21, 2026, to shareholders of record as of July 24.
CEO J.K. Symancyk said the company's "Grow Brand Love" strategy is "laying a foundation for sustainable, long-term growth." Signet also launched a $50 million share buyback program. Those moves suggest management sees the stock as undervalued — even as Bridgeway quietly steps back.
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