Safeguard Scientifics, Inc. (NYSE:SFE) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Safeguard Scientifics, Inc. (NYSE:SFE) from a hold rating to a sell rating in a research note published on Wednesday, August 2nd.

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. “

Several other analysts also recently commented on SFE. ValuEngine downgraded Safeguard Scientifics from a sell rating to a strong sell rating in a research note on Tuesday, May 16th. BidaskClub raised Safeguard Scientifics from a hold rating to a buy rating in a research note on Thursday, July 13th.

Shares of Safeguard Scientifics (NYSE SFE) traded down 0.42% during trading on Wednesday, reaching $11.80. The company’s stock had a trading volume of 69,497 shares. Safeguard Scientifics has a one year low of $10.60 and a one year high of $14.34. The company has a 50-day moving average price of $12.02 and a 200-day moving average price of $12.08. The stock’s market cap is $240.87 million.

Safeguard Scientifics (NYSE:SFE) last posted its quarterly earnings data on Thursday, July 27th. The asset manager reported ($1.43) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.11) by $0.32. During the same quarter in the previous year, the firm earned $1.92 earnings per share. On average, equities research analysts forecast that Safeguard Scientifics will post ($3.49) earnings per share for the current fiscal year.

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Several institutional investors have recently modified their holdings of SFE. First Manhattan Co. increased its position in shares of Safeguard Scientifics by 1.6% in the first quarter. First Manhattan Co. now owns 1,706,480 shares of the asset manager’s stock worth $22,115,000 after buying an additional 27,333 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Safeguard Scientifics by 6.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,147,008 shares of the asset manager’s stock worth $13,649,000 after buying an additional 71,379 shares during the period. Vanguard Group Inc. increased its position in shares of Safeguard Scientifics by 1.9% in the first quarter. Vanguard Group Inc. now owns 828,897 shares of the asset manager’s stock worth $10,528,000 after buying an additional 15,086 shares during the period. Ariel Investments LLC acquired a new position in shares of Safeguard Scientifics during the first quarter worth about $8,055,000. Finally, State Street Corp increased its position in shares of Safeguard Scientifics by 2.4% in the fourth quarter. State Street Corp now owns 347,275 shares of the asset manager’s stock worth $4,671,000 after buying an additional 8,253 shares during the period. 76.45% of the stock is owned by institutional investors and hedge funds.

About Safeguard Scientifics

Safeguard Scientifics, Inc is engaged in providing capital to technology companies within the fields of healthcare, financial services and digital media. The Company holds interest in companies, which it refers to as partner companies. As of December 31, 2016, the Company held interests in 29 non-consolidated partner companies.

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