Safeguard Scientifics (NYSE:SFE) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research lowered shares of Safeguard Scientifics (NYSE:SFE) from a buy rating to a hold rating in a research report sent to investors on Saturday, Zacks.com reports.

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. “

Separately, ValuEngine upgraded shares of Safeguard Scientifics from a strong sell rating to a sell rating in a research report on Tuesday, January 14th.

Safeguard Scientifics stock traded up $0.05 during trading hours on Friday, hitting $11.07. 93,050 shares of the stock traded hands, compared to its average volume of 49,094. The company has a debt-to-equity ratio of 0.02, a current ratio of 13.03 and a quick ratio of 13.03. The firm’s 50 day moving average price is $11.20 and its 200-day moving average price is $11.55. The stock has a market capitalization of $227.51 million, a price-to-earnings ratio of 5.92 and a beta of 0.86. Safeguard Scientifics has a 1 year low of $9.41 and a 1 year high of $12.91.

Safeguard Scientifics (NYSE:SFE) last issued its quarterly earnings data on Thursday, November 7th. The asset manager reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.44. Research analysts forecast that Safeguard Scientifics will post 2.29 earnings per share for the current fiscal year.

The business also recently declared a dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 23rd were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, December 20th.

In related news, Director Joseph M. Jr. Manko purchased 5,000 shares of Safeguard Scientifics stock in a transaction dated Thursday, December 12th. The stock was bought at an average cost of $11.96 per share, for a total transaction of $59,800.00. Following the transaction, the director now owns 6,095 shares in the company, valued at $72,896.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.20% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the stock. Private Capital Management LLC acquired a new position in shares of Safeguard Scientifics during the 3rd quarter worth approximately $261,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Safeguard Scientifics during the 3rd quarter worth approximately $115,000. Morgan Stanley raised its position in shares of Safeguard Scientifics by 15.2% during the 2nd quarter. Morgan Stanley now owns 19,979 shares of the asset manager’s stock worth $241,000 after purchasing an additional 2,630 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Safeguard Scientifics by 13.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,291,339 shares of the asset manager’s stock worth $15,586,000 after purchasing an additional 153,584 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY acquired a new position in shares of Safeguard Scientifics during the 3rd quarter worth approximately $82,000. Hedge funds and other institutional investors own 67.64% of the company’s stock.

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. It initially invests in a Series A-C round and opportunistically in a seed round.

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