Zacks Investment Research downgraded shares of Safeguard Scientifics (NYSE:SFE) from a buy rating to a hold rating in a research note released on Thursday morning.
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. “
SFE has been the topic of a number of other research reports. Barrington Research reissued a buy rating and set a $20.00 price target on shares of Safeguard Scientifics in a research report on Tuesday, March 6th. Keefe, Bruyette & Woods reissued a mkt perform rating and set a $13.25 price target on shares of Safeguard Scientifics in a research report on Wednesday, December 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $16.17.
SFE opened at $12.40 on Thursday. Safeguard Scientifics has a 12-month low of $10.65 and a 12-month high of $14.40. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market cap of $257.08, a PE ratio of -2.86 and a beta of 1.27.
Safeguard Scientifics (NYSE:SFE) last posted its quarterly earnings results on Thursday, March 1st. The asset manager reported ($0.91) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.14. During the same period in the prior year, the company posted ($1.07) EPS. equities analysts expect that Safeguard Scientifics will post -3.23 EPS for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of SFE. The Manufacturers Life Insurance Company boosted its position in Safeguard Scientifics by 13.9% during the second quarter. The Manufacturers Life Insurance Company now owns 21,573 shares of the asset manager’s stock valued at $256,000 after purchasing an additional 2,625 shares in the last quarter. Legal & General Group Plc boosted its position in Safeguard Scientifics by 16.9% during the third quarter. Legal & General Group Plc now owns 63,234 shares of the asset manager’s stock valued at $844,000 after purchasing an additional 9,157 shares in the last quarter. MetLife Investment Advisors LLC bought a new stake in Safeguard Scientifics during the fourth quarter valued at about $113,000. Neuberger Berman Group LLC bought a new stake in Safeguard Scientifics during the third quarter valued at about $136,000. Finally, Goodman Financial Corp boosted its position in Safeguard Scientifics by 3.6% during the fourth quarter. Goodman Financial Corp now owns 342,300 shares of the asset manager’s stock valued at $3,834,000 after purchasing an additional 11,744 shares in the last quarter. 76.54% of the stock is currently owned by institutional investors and hedge funds.
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About Safeguard Scientifics
Safeguard Scientifics, Inc no longer investing. It is a private equity and venture capital firm specializing in expansion financings, growth capital, management buyouts, recapitalizations, industry consolidations, corporate spinouts, growth stage, and early stage financings in Fintech sector. It initially invests in a Series A-C round and opportunistically in a seed round.
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