Teton Advisors Inc. cut its holdings in shares of Safeguard Scientifics, Inc (NYSE:SFE) by 46.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,920 shares of the asset manager’s stock after selling 24,104 shares during the period. Teton Advisors Inc.’s holdings in Safeguard Scientifics were worth $261,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in SFE. SG Americas Securities LLC purchased a new stake in shares of Safeguard Scientifics in the 2nd quarter valued at approximately $141,000. Wells Fargo & Company MN lifted its position in shares of Safeguard Scientifics by 58.9% in the 1st quarter. Wells Fargo & Company MN now owns 24,192 shares of the asset manager’s stock valued at $296,000 after acquiring an additional 8,964 shares in the last quarter. Mycio Wealth Partners LLC purchased a new stake in shares of Safeguard Scientifics in the 2nd quarter valued at approximately $297,000. FNY Investment Advisers LLC purchased a new stake in shares of Safeguard Scientifics in the 2nd quarter valued at approximately $493,000. Finally, Millennium Management LLC lifted its position in shares of Safeguard Scientifics by 125.6% in the 1st quarter. Millennium Management LLC now owns 67,787 shares of the asset manager’s stock valued at $830,000 after acquiring an additional 37,739 shares in the last quarter. 72.38% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:SFE opened at $8.52 on Wednesday. Safeguard Scientifics, Inc has a 52 week low of $8.24 and a 52 week high of $14.05. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.58 and a quick ratio of 2.58. The company has a market capitalization of $176.95 million, a P/E ratio of -1.96 and a beta of 1.18.
Several equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Safeguard Scientifics from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Tuesday, July 31st. First Analysis downgraded shares of Safeguard Scientifics from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $18.00 to $17.00 in a research report on Thursday, July 26th. Finally, ValuEngine downgraded shares of Safeguard Scientifics from a “hold” rating to a “sell” rating in a research report on Monday, July 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $18.13.
Safeguard Scientifics Company Profile
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. It initially invests in a Series A-C round and opportunistically in a seed round.
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