Safeguard Scientifics, Inc. (SFE) Rating Increased to Hold at Zacks Investment Research
Safeguard Scientifics, Inc. (NYSE:SFE) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
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 issued reports on the stock. ValuEngine downgraded shares of Safeguard Scientifics from a “sell” rating to a “strong sell” rating in a report on Tuesday, May 16th. BidaskClub raised shares of Safeguard Scientifics from a “hold” rating to a “buy” rating in a report on Thursday, July 13th.
Safeguard Scientifics (NYSE SFE) opened at 12.60 on Tuesday. Safeguard Scientifics has a 1-year low of $10.60 and a 1-year high of $14.38. The company’s 50 day moving average is $11.33 and its 200-day moving average is $12.23. The stock’s market cap is $256.52 million.
Safeguard Scientifics (NYSE:SFE) last posted its quarterly earnings data on Friday, April 28th. The asset manager reported ($1.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by $0.55. During the same quarter last year, the firm earned ($0.76) EPS. Equities research analysts forecast that Safeguard Scientifics will post ($2.24) earnings per share for the current fiscal year.
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Several institutional investors have recently bought and sold shares of the company. First Manhattan Co. increased its position in Safeguard Scientifics by 0.8% in the third 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 13,117 shares in the last quarter. Vanguard Group Inc. increased its position in Safeguard Scientifics by 1.9% in the first quarter. Vanguard Group Inc. now owns 828,897 shares of the asset manager’s stock valued at $10,528,000 after buying an additional 15,086 shares in the last quarter. Ariel Investments LLC acquired a new position in Safeguard Scientifics during the first quarter valued at $8,055,000. Bank of Montreal Can increased its position in Safeguard Scientifics by 3.7% in the fourth quarter. Bank of Montreal Can now owns 542,390 shares of the asset manager’s stock valued at $7,870,000 after buying an additional 19,168 shares in the last quarter. Finally, Yakira Capital Management Inc. increased its position in Safeguard Scientifics by 0.7% in the second quarter. Yakira Capital Management Inc. now owns 491,143 shares of the asset manager’s stock valued at $6,134,000 after buying an additional 3,498 shares in the last quarter. 76.66% of the stock is currently owned by hedge funds and other institutional investors.
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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