Trexquant Investment LP Acquires Shares of 264,525 Symantec Co. (SYMC)

Trexquant Investment LP acquired a new position in shares of Symantec Co. (NASDAQ:SYMC) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 264,525 shares of the technology company’s stock, valued at approximately $5,462,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Glen Harbor Capital Management LLC boosted its position in Symantec by 3.1% during the first quarter. Glen Harbor Capital Management LLC now owns 61,842 shares of the technology company’s stock worth $1,599,000 after acquiring an additional 1,848 shares during the last quarter. Riverhead Capital Management LLC boosted its position in Symantec by 3.2% during the first quarter. Riverhead Capital Management LLC now owns 67,971 shares of the technology company’s stock worth $1,757,000 after acquiring an additional 2,097 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its position in Symantec by 20.7% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 13,909 shares of the technology company’s stock worth $360,000 after acquiring an additional 2,384 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Symantec by 1.5% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 184,063 shares of the technology company’s stock worth $4,758,000 after acquiring an additional 2,672 shares during the last quarter. Finally, Cerebellum GP LLC boosted its position in Symantec by 47.9% during the second quarter. Cerebellum GP LLC now owns 8,295 shares of the technology company’s stock worth $171,000 after acquiring an additional 2,685 shares during the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.

Shares of SYMC traded up $1.27 during mid-day trading on Thursday, reaching $19.82. The company had a trading volume of 679,166 shares, compared to its average volume of 8,362,725. The firm has a market cap of $11.92 billion, a PE ratio of 21.16, a price-to-earnings-growth ratio of 2.70 and a beta of 0.67. Symantec Co. has a fifty-two week low of $17.81 and a fifty-two week high of $34.20. The company has a quick ratio of 1.15, a current ratio of 1.16 and a debt-to-equity ratio of 0.85.

Symantec (NASDAQ:SYMC) last issued its earnings results on Thursday, August 2nd. The technology company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. Symantec had a net margin of 25.52% and a return on equity of 14.54%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the firm posted $0.33 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. equities research analysts anticipate that Symantec Co. will post 0.9 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 12th. Stockholders of record on Monday, August 20th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Friday, August 17th. Symantec’s dividend payout ratio is presently 31.58%.

A number of analysts recently issued reports on the stock. BidaskClub lowered shares of Symantec from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Piper Jaffray Companies lowered shares of Symantec from an “overweight” rating to a “neutral” rating in a report on Thursday, May 10th. UBS Group lowered shares of Symantec from an “outperform” rating to a “market perform” rating in a report on Friday, May 11th. Robert W. Baird reiterated a “hold” rating and issued a $25.00 price target on shares of Symantec in a report on Friday, May 11th. Finally, Morgan Stanley decreased their price target on shares of Symantec from $26.00 to $23.00 and set an “equal weight” rating on the stock in a report on Monday, June 25th. Five research analysts have rated the stock with a sell rating, eighteen have given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $25.23.

About Symantec

Symantec Corporation, together with its subsidiaries, provides cybersecurity solutions worldwide. It operates through two segments, Consumer Digital Safety and Enterprise Security. The Consumer Digital Safety segment provides Norton-branded services that provide multi-layer security services across desktop and mobile operating systems, public Wi-Fi connections, and home networks to defend against online threats to individuals, families, and small businesses.

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Institutional Ownership by Quarter for Symantec (NASDAQ:SYMC)

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