Zacks Investment Research upgraded shares of Safeguard Scientifics, Inc. (NYSE:SFE) from a sell rating to a hold rating in a report released on Thursday.

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. “

Other equities analysts have also issued reports about the stock. BidaskClub lowered shares of Safeguard Scientifics from a buy rating to a hold rating in a report on Tuesday, July 25th. ValuEngine raised shares of Safeguard Scientifics from a strong sell rating to a sell rating in a research note on Friday, June 2nd.

Shares of Safeguard Scientifics (NYSE:SFE) opened at 13.35 on Thursday. The firm has a 50-day moving average of $12.19 and a 200 day moving average of $12.03. Safeguard Scientifics has a 52 week low of $10.60 and a 52 week high of $14.10. The company’s market cap is $272.51 million.

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

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A number of hedge funds have recently bought and sold shares of SFE. Dimensional Fund Advisors LP raised its position in 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 valued at $13,649,000 after purchasing an additional 71,379 shares during the period. Vanguard Group Inc. lifted its stake in shares of Safeguard Scientifics by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 828,897 shares of the asset manager’s stock valued at $10,528,000 after purchasing an additional 15,086 shares during the last quarter. State Street Corp lifted its stake in shares of Safeguard Scientifics by 7.9% in the 2nd quarter. State Street Corp now owns 383,000 shares of the asset manager’s stock valued at $4,558,000 after purchasing an additional 28,161 shares during the last quarter. Goodman Financial Corp lifted its stake in shares of Safeguard Scientifics by 3.7% in the 2nd quarter. Goodman Financial Corp now owns 303,216 shares of the asset manager’s stock valued at $3,608,000 after purchasing an additional 10,852 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Safeguard Scientifics by 2.6% in the 2nd quarter. Northern Trust Corp now owns 264,458 shares of the asset manager’s stock valued at $3,147,000 after purchasing an additional 6,757 shares during the last quarter. 77.59% of the stock is owned by institutional investors.

Safeguard Scientifics Company Profile

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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