StockNews.com initiated coverage on shares of Safeguard Scientifics (NYSE:SFE – Get Rating) in a research report released on Monday morning. The brokerage issued a hold rating on the asset manager’s stock.
Safeguard Scientifics Stock Performance
NYSE:SFE opened at $3.34 on Monday. The stock has a 50-day simple moving average of $3.62 and a two-hundred day simple moving average of $3.84. The firm has a market capitalization of $54.51 million, a PE ratio of -3.12 and a beta of 0.99. Safeguard Scientifics has a 52-week low of $3.19 and a 52-week high of $7.74.
Hedge Funds Weigh In On Safeguard Scientifics
Hedge funds have recently modified their holdings of the company. First Manhattan Co. increased its stake in Safeguard Scientifics by 4.4% in the 3rd quarter. First Manhattan Co. now owns 1,104,006 shares of the asset manager’s stock worth $4,117,000 after buying an additional 46,600 shares in the last quarter. Legal & General Group Plc grew its stake in Safeguard Scientifics by 5.3% during the second quarter. Legal & General Group Plc now owns 95,711 shares of the asset manager’s stock valued at $357,000 after acquiring an additional 4,815 shares in the last quarter. State Street Corp increased its holdings in Safeguard Scientifics by 17.2% in the 2nd quarter. State Street Corp now owns 21,165 shares of the asset manager’s stock valued at $79,000 after acquiring an additional 3,111 shares during the last quarter. Yakira Capital Management Inc. lifted its stake in Safeguard Scientifics by 0.8% in the 2nd quarter. Yakira Capital Management Inc. now owns 1,101,131 shares of the asset manager’s stock worth $4,107,000 after purchasing an additional 9,023 shares in the last quarter. Finally, CM Management LLC boosted its holdings in shares of Safeguard Scientifics by 11.9% during the 2nd quarter. CM Management LLC now owns 671,671 shares of the asset manager’s stock valued at $2,505,000 after purchasing an additional 71,671 shares during the last quarter. 62.03% of the stock is currently owned by institutional investors.
Safeguard Scientifics Company Profile
Safeguard Scientifics, Inc no longer investing. It is a private equity and venture capital firm specializing in expansion financings, growth capital, management buyouts, recapitalizations, industry consolidations, corporate spinouts, growth stage, and early stage financings. It initially invests in a Series A-C round and opportunistically in a seed round.
- Get a free copy of the StockNews.com research report on Safeguard Scientifics (SFE)
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