Columbus Hill Capital Management L.P. Acquires New Holdings in Figure Technology Solutions, Inc. $FIGR

Columbus Hill Capital Management L.P. bought a new stake in Figure Technology Solutions, Inc. (NASDAQ:FIGR) during the 3rd quarter, Holdings Channel.com reports. The fund bought 152,500 shares of the company’s stock, valued at approximately $5,546,000. Figure Technology Solutions accounts for about 0.7% of Columbus Hill Capital Management L.P.’s holdings, making the stock its 23rd biggest position.

Other large investors have also made changes to their positions in the company. Blue Trust Inc. acquired a new position in Figure Technology Solutions during the 3rd quarter valued at approximately $64,000. SBI Securities Co. Ltd. acquired a new position in shares of Figure Technology Solutions in the 3rd quarter valued at about $66,000. PNC Financial Services Group Inc. purchased a new stake in Figure Technology Solutions in the 3rd quarter worth approximately $73,000. BNP Paribas Financial Markets purchased a new stake in shares of Figure Technology Solutions during the 3rd quarter worth about $102,000. Finally, Ameritas Advisory Services LLC acquired a new stake in Figure Technology Solutions in the third quarter valued at approximately $200,000.

Insider Buying and Selling at Figure Technology Solutions

In other Figure Technology Solutions news, insider David Todd Stevens sold 26,057 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $32.00, for a total value of $833,824.00. Following the sale, the insider owned 462,943 shares of the company’s stock, valued at $14,814,176. This represents a 5.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sachin Chand Jaitly sold 216,713 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $33.64, for a total value of $7,290,225.32. Additional details regarding this sale are available in the official SEC disclosure.

Figure Technology Solutions Stock Down 3.0%

NASDAQ FIGR opened at $35.07 on Friday. The business’s 50-day moving average is $45.97. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.26 and a current ratio of 2.26. The stock has a market capitalization of $6.18 billion and a price-to-earnings ratio of 87.68. Figure Technology Solutions, Inc. has a 52-week low of $25.01 and a 52-week high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.07). The business had revenue of $157.63 million for the quarter, compared to the consensus estimate of $158.00 million. The business’s revenue was up 90.7% compared to the same quarter last year.

Figure Technology Solutions declared that its board has approved a share repurchase program on Thursday, February 26th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Sanford C. Bernstein raised their price target on shares of Figure Technology Solutions from $54.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, January 13th. The Goldman Sachs Group dropped their price objective on shares of Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Bank of America cut Figure Technology Solutions from a “neutral” rating to an “underperform” rating and set a $42.00 target price for the company. in a research note on Tuesday, February 3rd. Zacks Research downgraded shares of Figure Technology Solutions from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Finally, Piper Sandler increased their target price on Figure Technology Solutions from $55.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.63.

Figure Technology Solutions Company Profile

Figure is building the future of capital markets using blockchain-based technology. Figure’s proprietary technology powers next-generation lending, trading and investing activities in areas such as consumer credit and digital assets. Our application of the blockchain ledger allows us to better serve our end-customers, improve speed and efficiency, and enhance standardization and liquidity. Using our technology, we continue to develop dynamic, vertically-integrated marketplaces across the approximately $2 trillion consumer credit market and the rapidly growing approximately $4 trillion cryptocurrency and digital asset market.