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, July 18th.
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 analysts have also weighed in on the company. BidaskClub raised Safeguard Scientifics from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. ValuEngine raised Safeguard Scientifics from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd.
Safeguard Scientifics (NYSE SFE) traded down 0.42% during trading on Tuesday, hitting $11.80. The stock had a trading volume of 69,497 shares. The firm’s market cap is $240.87 million. The company’s 50-day moving average is $12.02 and its 200 day moving average is $12.08. Safeguard Scientifics has a 52 week low of $10.60 and a 52 week high of $14.34.
Safeguard Scientifics (NYSE:SFE) last announced its quarterly earnings data on Thursday, July 27th. The asset manager reported ($1.43) earnings per share 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 earned $1.92 earnings per share. Equities analysts expect that Safeguard Scientifics will post ($3.49) EPS for the current fiscal year.
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A number of hedge funds have recently made changes to their positions in the stock. KBC Group NV raised its stake in shares of Safeguard Scientifics by 47.5% in the first quarter. KBC Group NV now owns 9,447 shares of the asset manager’s stock valued at $120,000 after buying an additional 3,044 shares in the last quarter. American International Group Inc. raised its stake in shares of Safeguard Scientifics by 7.2% in the first quarter. American International Group Inc. now owns 12,407 shares of the asset manager’s stock valued at $158,000 after buying an additional 833 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of Safeguard Scientifics by 7.6% in the second quarter. Nationwide Fund Advisors now owns 14,195 shares of the asset manager’s stock valued at $169,000 after buying an additional 1,006 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Safeguard Scientifics by 27.4% in the second quarter. Alliancebernstein L.P. now owns 14,430 shares of the asset manager’s stock valued at $172,000 after buying an additional 3,100 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Safeguard Scientifics by 12.9% in the first quarter. Goldman Sachs Group Inc. now owns 15,336 shares of the asset manager’s stock valued at $195,000 after buying an additional 1,754 shares in the last quarter. 76.45% of the stock is currently owned by institutional investors and hedge funds.
Safeguard Scientifics Company Profile
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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