Trexquant Investment LP Buys Shares of 20,700 Symantec Corporation (SYMC)
Trexquant Investment LP bought a new stake in Symantec Corporation (NASDAQ:SYMC) during the second quarter, Holdings Channel reports. The fund bought 20,700 shares of the technology company’s stock, valued at approximately $585,000.
Several other hedge funds have also bought and sold shares of the company. Westpac Banking Corp boosted its stake in Symantec Corporation by 69.2% in the first quarter. Westpac Banking Corp now owns 60,637 shares of the technology company’s stock valued at $1,115,000 after buying an additional 24,805 shares during the last quarter. Telemus Capital LLC boosted its stake in Symantec Corporation by 14.7% in the first quarter. Telemus Capital LLC now owns 32,375 shares of the technology company’s stock valued at $993,000 after buying an additional 4,155 shares during the last quarter. Kwmg LLC boosted its stake in Symantec Corporation by 61.0% in the first quarter. Kwmg LLC now owns 56,378 shares of the technology company’s stock valued at $1,730,000 after buying an additional 21,367 shares during the last quarter. Spirit of America Management Corp NY boosted its stake in Symantec Corporation by 9.9% in the second quarter. Spirit of America Management Corp NY now owns 26,200 shares of the technology company’s stock valued at $740,000 after buying an additional 2,350 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in Symantec Corporation by 76.5% in the first quarter. BNP Paribas Arbitrage SA now owns 513,068 shares of the technology company’s stock valued at $15,741,000 after buying an additional 222,455 shares during the last quarter. 93.82% of the stock is currently owned by institutional investors.
Symantec Corporation (NASDAQ:SYMC) opened at 28.29 on Friday. Symantec Corporation has a one year low of $22.64 and a one year high of $33.22. The stock’s market capitalization is $17.34 billion. The company has a 50-day moving average of $29.58 and a 200-day moving average of $29.80.
Symantec Corporation (NASDAQ:SYMC) last announced its earnings results on Wednesday, August 2nd. The technology company reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.20 billion. Symantec Corporation had a negative net margin of 8.68% and a positive return on equity of 10.73%. Symantec Corporation’s revenue was up 38.9% compared to the same quarter last year. During the same period last year, the firm earned $0.29 earnings per share. On average, equities analysts forecast that Symantec Corporation will post $1.80 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 21st will be paid a $0.075 dividend. The ex-dividend date is Thursday, August 17th. This represents a $0.30 annualized dividend and a yield of 1.06%. Symantec Corporation’s dividend payout ratio (DPR) is -49.18%.
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Several analysts have weighed in on SYMC shares. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $36.00 price objective on shares of Symantec Corporation in a research report on Friday, June 9th. Standpoint Research raised Symantec Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Zacks Investment Research raised Symantec Corporation from a “strong sell” rating to a “buy” rating and set a $32.00 price objective on the stock in a research report on Tuesday, July 11th. BidaskClub raised Symantec Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $29.00 price objective (up from $28.00) on shares of Symantec Corporation in a research report on Thursday, May 11th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $31.00.
In other Symantec Corporation news, CFO Nicholas R. Noviello sold 27,741 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $32.45, for a total value of $900,195.45. Following the completion of the sale, the chief financial officer now directly owns 184,928 shares in the company, valued at $6,000,913.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Mark S. Garfield sold 18,069 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $29.39, for a total transaction of $531,047.91. Following the completion of the sale, the chief accounting officer now owns 92,754 shares of the company’s stock, valued at $2,726,040.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,537,774 shares of company stock valued at $44,666,616. 0.76% of the stock is owned by insiders.
About Symantec Corporation
Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection, cyber security services and Website security. Under threat protection, it offers Advanced Threat Protection, Endpoint Protection, Endpoint Protection Cloud, IT Management Suite, Email Security.Cloud, Data Center Security and Cloud Workload Protection products.
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