Symantec Corp. (SYMC) Short Interest Up 12.9% in November
Symantec Corp. (NASDAQ:SYMC) was the recipient of a large growth in short interest in November. As of November 15th, there was short interest totalling 30,538,284 shares, a growth of 12.9% from the October 31st total of 27,045,844 shares. Based on an average daily volume of 12,067,242 shares, the days-to-cover ratio is currently 2.5 days. Approximately 5.0% of the company’s stock are short sold.
A number of analysts have commented on the company. JMP Securities reaffirmed a “buy” rating on shares of Symantec Corp. in a research report on Tuesday, November 22nd. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $28.00 price target on shares of Symantec Corp. in a research report on Monday, November 21st. Zacks Investment Research cut Symantec Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, November 8th. Bank of America Corp. set a $18.00 price target on Symantec Corp. and gave the stock a “sell” rating in a research report on Sunday, November 6th. Finally, Nomura reaffirmed a “hold” rating and set a $25.00 price target on shares of Symantec Corp. in a research report on Friday, November 4th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have issued a buy rating to the stock. Symantec Corp. presently has a consensus rating of “Hold” and a consensus target price of $25.44.
Symantec Corp. (NASDAQ:SYMC) opened at 24.82 on Friday. The firm has a market capitalization of $15.47 billion, a PE ratio of 7.17 and a beta of 1.23. Symantec Corp. has a 12-month low of $16.14 and a 12-month high of $25.72. The company has a 50-day moving average price of $24.64 and a 200-day moving average price of $22.09.
Symantec Corp. (NASDAQ:SYMC) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.10. Symantec Corp. had a return on equity of 11.62% and a net margin of 60.52%. The firm had revenue of $979 million for the quarter, compared to analysts’ expectations of $978.86 million. During the same period in the previous year, the firm earned $0.44 EPS. The business’s quarterly revenue was up 8.1% on a year-over-year basis. On average, analysts predict that Symantec Corp. will post $1.16 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 14th. Stockholders of record on Monday, November 21st will be given a dividend of $0.075 per share. The ex-dividend date is Thursday, November 17th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.21%. Symantec Corp.’s payout ratio is currently 8.85%.
In other news, SVP Amy L. Cappellanti-Wolf sold 15,474 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $24.88, for a total value of $384,993.12. Following the completion of the sale, the senior vice president now owns 112,103 shares of the company’s stock, valued at approximately $2,789,122.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott C. Taylor sold 40,000 shares of the firm’s stock in a transaction on Tuesday, October 25th. The stock was sold at an average price of $25.00, for a total value of $1,000,000.00. Following the completion of the sale, the executive vice president now directly owns 272,577 shares of the company’s stock, valued at approximately $6,814,425. The disclosure for this sale can be found here. 0.76% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of SYMC. Nuveen Asset Management LLC boosted its position in Symantec Corp. by 2.4% in the first quarter. Nuveen Asset Management LLC now owns 48,453 shares of the company’s stock worth $891,000 after buying an additional 1,149 shares during the last quarter. Seven Eight Capital LLC bought a new position in Symantec Corp. during the first quarter worth $410,000. Squarepoint Ops LLC bought a new position in Symantec Corp. during the first quarter worth $1,143,000. First Republic Investment Management Inc. boosted its position in Symantec Corp. by 73.2% in the first quarter. First Republic Investment Management Inc. now owns 157,849 shares of the company’s stock worth $2,901,000 after buying an additional 66,686 shares during the last quarter. Finally, BlueMountain Capital Management LLC boosted its position in Symantec Corp. by 82.0% in the first quarter. BlueMountain Capital Management LLC now owns 27,822 shares of the company’s stock worth $511,000 after buying an additional 12,538 shares during the last quarter. 96.69% of the stock is currently owned by hedge funds and other institutional investors.
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About Symantec Corp.
Symantec Corporation is a United States-based cybersecurity company. The Company operates its business on a global civilian cyber intelligence threat network and tracks a range of threats across the Internet from various mobile devices, endpoints and servers across the globe. The Company’s segments include Consumer Security and Enterprise Security.
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