Safeguard Scientifics (SFE) Downgraded by Zacks Investment Research

Safeguard Scientifics (NYSE:SFE) was downgraded by Zacks Investment Research from a “buy” 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. “

A number of other analysts also recently commented on the stock. Keefe, Bruyette & Woods reiterated a “mkt perform” rating and issued a $13.25 price objective on shares of Safeguard Scientifics in a report on Wednesday, December 6th. ValuEngine downgraded shares of Safeguard Scientifics from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th.

Safeguard Scientifics (NYSE:SFE) remained flat at $$12.40 during mid-day trading on Tuesday. 46,244 shares of the stock were exchanged, compared to its average volume of 137,783. The company has a market cap of $255.15, a price-to-earnings ratio of -2.76 and a beta of 1.36. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45. Safeguard Scientifics has a twelve month low of $10.65 and a twelve month high of $14.40.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. LaSalle Street Capital Management LLC increased its holdings in shares of Safeguard Scientifics by 2.5% during the 2nd quarter. LaSalle Street Capital Management LLC now owns 11,714 shares of the asset manager’s stock worth $146,000 after buying an additional 287 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Safeguard Scientifics by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 101,819 shares of the asset manager’s stock worth $1,212,000 after buying an additional 469 shares during the last quarter. Foundry Partners LLC increased its holdings in shares of Safeguard Scientifics by 0.3% during the 2nd quarter. Foundry Partners LLC now owns 166,794 shares of the asset manager’s stock worth $2,083,000 after buying an additional 475 shares during the last quarter. Parametric Portfolio Associates LLC increased its holdings in shares of Safeguard Scientifics by 3.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 17,132 shares of the asset manager’s stock worth $204,000 after buying an additional 513 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Safeguard Scientifics by 0.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 87,327 shares of the asset manager’s stock worth $1,040,000 after buying an additional 570 shares during the last quarter. Institutional investors and hedge funds own 76.46% of the company’s stock.

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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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