Contravisory Investment Management Inc. reduced its holdings in shares of Focus Financial Partners Inc. (NASDAQ:FOCS) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,836 shares of the company’s stock after selling 237 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Focus Financial Partners were worth $210,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its position in Focus Financial Partners by 7.2% in the third quarter. JPMorgan Chase & Co. now owns 4,772,841 shares of the company’s stock worth $156,931,000 after acquiring an additional 319,471 shares during the period. Vanguard Group Inc. raised its position in Focus Financial Partners by 7.7% in the second quarter. Vanguard Group Inc. now owns 2,897,238 shares of the company’s stock worth $95,754,000 after acquiring an additional 207,060 shares during the period. Jennison Associates LLC raised its position in Focus Financial Partners by 100.5% in the third quarter. Jennison Associates LLC now owns 1,087,186 shares of the company’s stock worth $35,649,000 after acquiring an additional 544,946 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Focus Financial Partners in the third quarter worth about $28,908,000. Finally, WCM Investment Management LLC increased its stake in shares of Focus Financial Partners by 16.4% in the third quarter. WCM Investment Management LLC now owns 867,342 shares of the company’s stock worth $28,440,000 after purchasing an additional 122,329 shares in the last quarter. Hedge funds and other institutional investors own 84.87% of the company’s stock.
Focus Financial Partners stock opened at $48.26 on Thursday. The stock’s 50 day simple moving average is $44.24 and its two-hundred day simple moving average is $38.11. The company has a debt-to-equity ratio of 1.50, a quick ratio of 2.05 and a current ratio of 2.05. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of 201.08, a PEG ratio of 1.04 and a beta of 1.27. Focus Financial Partners Inc. has a fifty-two week low of $12.17 and a fifty-two week high of $49.47.
Several equities analysts have recently weighed in on FOCS shares. Raymond James lifted their target price on shares of Focus Financial Partners from $44.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday. BidaskClub upgraded shares of Focus Financial Partners from a “hold” rating to a “buy” rating in a research note on Thursday, December 10th. ValuEngine cut shares of Focus Financial Partners from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 1st. Finally, Zacks Investment Research raised shares of Focus Financial Partners from a “sell” rating to a “hold” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company’s stock. Focus Financial Partners presently has a consensus rating of “Buy” and an average target price of $39.40.
About Focus Financial Partners
Focus Financial Partners Inc provides wealth management services to primarily high net worth individuals and families. Its wealth management services include investment advice, financial and tax planning, consulting, tax return preparation, family office services, and other services. The company also offers recordkeeping and administration services; recommends financial products through commissions; and sells investment or insurance products.
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