Safeguard Scientifics (NYSE:SFE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday, February 16th.
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 recently commented on the stock. Keefe, Bruyette & Woods reiterated a “mkt perform” rating and issued a $13.25 price target on shares of Safeguard Scientifics in a research note on Wednesday, December 6th. ValuEngine cut shares of Safeguard Scientifics from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th.
Safeguard Scientifics (NYSE:SFE) opened at $11.40 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.03. Safeguard Scientifics has a one year low of $10.65 and a one year high of $14.40. The firm has a market cap of $229.64, a price-to-earnings ratio of -2.54 and a beta of 1.36.
Hedge funds have recently made changes to their positions in the business. Granahan Investment Management Inc. MA lifted its stake in Safeguard Scientifics by 20.8% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 646,492 shares of the asset manager’s stock worth $8,631,000 after purchasing an additional 111,370 shares in the last quarter. Pinebridge Investments L.P. lifted its stake in Safeguard Scientifics by 147.5% in the 3rd quarter. Pinebridge Investments L.P. now owns 24,984 shares of the asset manager’s stock worth $333,000 after purchasing an additional 14,890 shares in the last quarter. Legal & General Group Plc lifted its stake in Safeguard Scientifics by 16.9% in the 3rd quarter. Legal & General Group Plc now owns 63,234 shares of the asset manager’s stock worth $844,000 after purchasing an additional 9,157 shares in the last quarter. State Street Corp lifted its stake in Safeguard Scientifics by 7.9% in the 2nd quarter. State Street Corp now owns 383,000 shares of the asset manager’s stock worth $4,558,000 after purchasing an additional 28,161 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Safeguard Scientifics by 6.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,147,008 shares of the asset manager’s stock worth $13,649,000 after purchasing an additional 71,379 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.
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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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