Zacks Investment Research cut shares of Safeguard Scientifics (NYSE:SFE) from a buy rating to a hold rating in a research report report published on Friday.
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 equities research analysts also recently commented on SFE. ValuEngine downgraded Safeguard Scientifics from a hold rating to a sell rating in a report on Tuesday, November 14th. Keefe, Bruyette & Woods reissued a mkt perform rating and issued a $13.25 target price on shares of Safeguard Scientifics in a report on Wednesday, December 6th.
Shares of Safeguard Scientifics (SFE) opened at $11.65 on Friday. Safeguard Scientifics has a fifty-two week low of $10.65 and a fifty-two week high of $14.40. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $237.80, a price-to-earnings ratio of -2.59 and a beta of 1.36.
Institutional investors have recently added to or reduced their stakes in the business. Granahan Investment Management Inc. MA lifted its holdings in Safeguard Scientifics by 20.8% in the third quarter. Granahan Investment Management Inc. MA now owns 646,492 shares of the asset manager’s stock valued at $8,631,000 after acquiring an additional 111,370 shares during the period. Pinebridge Investments L.P. raised its stake in shares of Safeguard Scientifics by 147.5% during the 3rd quarter. Pinebridge Investments L.P. now owns 24,984 shares of the asset manager’s stock worth $333,000 after buying an additional 14,890 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Safeguard Scientifics by 16.9% during the 3rd quarter. Legal & General Group Plc now owns 63,234 shares of the asset manager’s stock worth $844,000 after buying an additional 9,157 shares during the last quarter. State Street Corp raised its stake in shares of Safeguard Scientifics by 7.9% during the 2nd quarter. State Street Corp now owns 383,000 shares of the asset manager’s stock worth $4,558,000 after buying an additional 28,161 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Safeguard Scientifics by 6.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,147,008 shares of the asset manager’s stock worth $13,649,000 after buying an additional 71,379 shares during the last quarter. 77.09% of the stock is owned by institutional investors.
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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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