Safeguard Scientifics, Inc. (NYSE:SFE) Rating Lowered to Strong Sell at ValuEngine
Safeguard Scientifics, Inc. (NYSE:SFE) was downgraded by ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Monday.
Several other equities analysts have also issued reports on the company. Zacks Investment Research lowered Safeguard Scientifics from a “buy” rating to a “hold” rating in a research report on Thursday, May 4th. BidaskClub upgraded Safeguard Scientifics from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th.
Shares of Safeguard Scientifics (NYSE SFE) remained flat at $11.90 on Monday. The stock had a trading volume of 77,093 shares. The firm’s market cap is $242.91 million. Safeguard Scientifics has a 12 month low of $10.60 and a 12 month high of $14.38. The stock has a 50-day moving average price of $11.93 and a 200-day moving average price of $12.11.
Safeguard Scientifics (NYSE:SFE) last posted its earnings results on Thursday, July 27th. The asset manager reported ($1.43) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.11) by $0.32. During the same period in the prior year, the business posted $1.92 earnings per share. Analysts anticipate that Safeguard Scientifics will post ($3.49) earnings per share for the current year.
Several institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. acquired a new position in shares of Safeguard Scientifics during the fourth quarter valued at about $261,000. State Street Corp raised its position in shares of Safeguard Scientifics by 2.4% in the fourth quarter. State Street Corp now owns 347,275 shares of the asset manager’s stock valued at $4,671,000 after buying an additional 8,253 shares in the last quarter. Renaissance Technologies LLC raised 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 in the last quarter. DnB Asset Management AS raised its position in shares of Safeguard Scientifics by 16.7% in the first quarter. DnB Asset Management AS now owns 32,858 shares of the asset manager’s stock valued at $417,000 after buying an additional 4,700 shares in the last quarter. Finally, First Manhattan Co. raised 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 in the last quarter. Institutional investors and hedge funds own 76.45% 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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