First Data (NYSE:FDC) was the recipient of a significant decline in short interest in the month of April. As of April 30th, there was short interest totalling 39,574,818 shares, a decline of 13.8% from the April 13th total of 45,913,059 shares. Based on an average daily volume of 7,846,320 shares, the short-interest ratio is currently 5.0 days. Currently, 8.9% of the company’s shares are short sold.
In related news, insider Andrew Gelb sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $18.40, for a total value of $184,000.00. Following the completion of the transaction, the insider now owns 422,024 shares of the company’s stock, valued at $7,765,241.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anthony S. Marino sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 2nd. The stock was sold at an average price of $18.10, for a total transaction of $126,700.00. Following the completion of the transaction, the insider now directly owns 270,100 shares of the company’s stock, valued at approximately $4,888,810. The disclosure for this sale can be found here. Insiders purchased 300 shares of company stock valued at $4,745 in the last quarter. 5.60% of the stock is owned by company insiders.
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Institutional investors and hedge funds have recently made changes to their positions in the company. Deutsche Bank AG grew its holdings in shares of First Data by 296.8% during the fourth quarter. Deutsche Bank AG now owns 3,336,403 shares of the business services provider’s stock valued at $55,749,000 after buying an additional 2,495,618 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of First Data by 159.0% during the fourth quarter. Bank of Montreal Can now owns 2,432,974 shares of the business services provider’s stock valued at $40,655,000 after buying an additional 1,493,774 shares during the last quarter. Beach Point Capital Management LP purchased a new stake in shares of First Data during the fourth quarter valued at $3,426,000. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of First Data during the fourth quarter valued at $2,880,000. Finally, FNY Partners Fund LP grew its holdings in shares of First Data by 66.7% during the fourth quarter. FNY Partners Fund LP now owns 25,000 shares of the business services provider’s stock valued at $417,000 after buying an additional 10,000 shares during the last quarter. 50.25% of the stock is currently owned by hedge funds and other institutional investors.
Shares of First Data opened at $19.65 on Tuesday, Marketbeat Ratings reports. The firm has a market cap of $18.03 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 1.20 and a beta of 1.40. The company has a debt-to-equity ratio of 2.88, a quick ratio of 1.01 and a current ratio of 1.01. First Data has a 12-month low of $19.49 and a 12-month high of $19.72.
First Data (NYSE:FDC) last issued its quarterly earnings results on Monday, April 30th. The business services provider reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.98 billion. First Data had a return on equity of 23.21% and a net margin of 13.27%. The business’s quarterly revenue was down 18.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.28 earnings per share. analysts predict that First Data will post 1.24 earnings per share for the current year.
A number of equities analysts recently commented on FDC shares. Cantor Fitzgerald reissued a “hold” rating and issued a $17.00 price objective on shares of First Data in a research note on Monday, February 12th. BMO Capital Markets boosted their price objective on shares of First Data from $21.50 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 13th. Zacks Investment Research downgraded shares of First Data from a “hold” rating to a “sell” rating in a research note on Tuesday, March 20th. Bank of America boosted their price objective on shares of First Data from $20.50 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, May 1st. Finally, ValuEngine downgraded shares of First Data from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. First Data has a consensus rating of “Buy” and a consensus target price of $20.83.
First Data Company Profile
First Data Corporation provides electronic commerce solutions for merchants, financial institutions, and card issuers worldwide. It operates through three segments: Global Business Solutions (GBS), Global Financial Solutions (GFS), and Network & Security Solutions (NSS). The GBS segment offers retail point-of-sale merchant acquiring and e-commerce services; and mobile payment services, as well as its cloud-based Clover point-of-sale operating system, which includes a marketplace for proprietary and third-party business applications.