Zacks Investment Research Lowers Safeguard Scientifics, Inc. (NYSE:SFE) to Sell
Zacks Investment Research lowered shares of Safeguard Scientifics, Inc. (NYSE:SFE) from a hold rating to a sell rating in a report published on Wednesday.
According to Zacks, “Safeguard Scientifics, Inc. is a diversified information technology company that develops, operates and manages emerging growth information technology companies. The company is currently focusing on emerging opportunities in eCommerce, enterprise applications, and network infrastructure, all of which are expected to benefit from the growing use of the Internet as a fundamental business tool. The company works closely with our partnership companies to provide numerous operational and management services to build value in preparation for public rights offerings and beyond. “
Several other equities analysts also recently commented on the stock. ValuEngine downgraded shares of Safeguard Scientifics from a sell rating to a strong sell rating in a research note on Tuesday, May 16th. BidaskClub raised shares of Safeguard Scientifics from a hold rating to a buy rating in a research note on Thursday, July 13th.
Shares of Safeguard Scientifics (NYSE:SFE) traded up 2.15% during mid-day trading on Wednesday, hitting $11.90. 25,268 shares of the company were exchanged. Safeguard Scientifics has a 12-month low of $10.60 and a 12-month high of $14.38. The company’s 50-day moving average price is $11.93 and its 200-day moving average price is $12.11. The firm’s market capitalization is $242.91 million.
Safeguard Scientifics (NYSE:SFE) last issued its quarterly earnings data on Thursday, July 27th. The asset manager reported ($1.43) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.11) by $0.32. During the same quarter last year, the company earned $1.92 EPS. Equities research analysts predict that Safeguard Scientifics will post ($3.49) earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the stock. Ariel Investments LLC acquired a new position in shares of Safeguard Scientifics during the first quarter valued at about $8,055,000. Henderson Group PLC acquired a new position in shares of Safeguard Scientifics during the first quarter valued at about $2,426,000. Renaissance Technologies LLC boosted its position in shares of Safeguard Scientifics by 36.8% in the fourth quarter. Renaissance Technologies LLC now owns 235,717 shares of the asset manager’s stock valued at $3,170,000 after buying an additional 63,417 shares during the period. Cubic Asset Management LLC boosted its position in shares of Safeguard Scientifics by 35.5% in the first quarter. Cubic Asset Management LLC now owns 160,985 shares of the asset manager’s stock valued at $2,045,000 after buying an additional 42,145 shares during the period. Finally, First Manhattan Co. boosted its position in shares of Safeguard Scientifics by 1.6% in the first quarter. First Manhattan Co. now owns 1,706,480 shares of the asset manager’s stock valued at $22,115,000 after buying an additional 27,333 shares during the period. Hedge funds and other institutional investors own 76.96% of the company’s stock.
About Safeguard Scientifics
Safeguard Scientifics, Inc is engaged in providing capital to technology companies within the fields of healthcare, financial services and digital media. The Company holds interest in companies, which it refers to as partner companies. As of December 31, 2016, the Company held interests in 29 non-consolidated partner companies.
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