Short Interest in Synchrony Financial (NYSE:SYF) Expands By 18.9%
Synchrony Financial (NYSE:SYF) was the target of a large growth in short interest during the month of November. As of November 29th, there was short interest totalling 17,420,000 shares, a growth of 18.9% from the November 14th total of 14,650,000 shares. Based on an average daily trading volume, of 4,410,000 shares, the days-to-cover ratio is currently 4.0 days. Currently, 2.7% of the shares of the stock are short sold.
Synchrony Financial stock remained flat at $$37.69 during midday trading on Friday. The company had a trading volume of 4,144,829 shares, compared to its average volume of 3,917,550. The firm has a market capitalization of $24.00 billion, a P/E ratio of 10.08, a price-to-earnings-growth ratio of 0.91 and a beta of 1.16. The company’s 50-day moving average is $36.77 and its 200-day moving average is $34.77. Synchrony Financial has a 1 year low of $21.77 and a 1 year high of $38.18. The company has a quick ratio of 1.26, a current ratio of 1.38 and a debt-to-equity ratio of 1.35.
Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. The firm had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.33 billion. Synchrony Financial had a return on equity of 20.05% and a net margin of 19.54%. During the same quarter last year, the business posted $0.91 EPS. On average, sell-side analysts expect that Synchrony Financial will post 4.25 earnings per share for the current fiscal year.
In other news, Director Will W. Graylin sold 7,500 shares of Synchrony Financial stock in a transaction on Monday, September 30th. The stock was sold at an average price of $33.71, for a total transaction of $252,825.00. Following the completion of the transaction, the director now owns 76,662 shares of the company’s stock, valued at approximately $2,584,276.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.32% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Garrett Wealth Advisory Group LLC purchased a new stake in Synchrony Financial in the 3rd quarter valued at about $26,000. Executive Wealth Management LLC purchased a new stake in Synchrony Financial in the 2nd quarter valued at about $27,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in Synchrony Financial in the 2nd quarter valued at about $29,000. Captrust Financial Advisors grew its holdings in Synchrony Financial by 321.5% in the 2nd quarter. Captrust Financial Advisors now owns 843 shares of the financial services provider’s stock valued at $29,000 after buying an additional 643 shares during the period. Finally, Capital Investment Advisory Services LLC purchased a new stake in Synchrony Financial in the 2nd quarter valued at about $30,000. Institutional investors own 86.82% of the company’s stock.
A number of analysts recently commented on the company. Nomura reiterated a “neutral” rating and set a $38.00 price objective (down previously from $43.00) on shares of Synchrony Financial in a research report on Thursday, December 5th. Oppenheimer set a $39.00 price objective on Synchrony Financial and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Bank of America assumed coverage on Synchrony Financial in a research report on Monday, December 2nd. They set a “buy” rating and a $42.00 price objective for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $38.92.
About Synchrony Financial
Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.
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