Sentry Investment Management LLC Trims Holdings in Symantec Co. (SYMC)
Sentry Investment Management LLC lowered its position in Symantec Co. (NASDAQ:SYMC) by 28.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,662 shares of the technology company’s stock after selling 12,414 shares during the quarter. Sentry Investment Management LLC’s holdings in Symantec were worth $894,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the business. WINTON GROUP Ltd lifted its position in shares of Symantec by 884.0% in the 2nd quarter. WINTON GROUP Ltd now owns 400,288 shares of the technology company’s stock worth $11,308,000 after acquiring an additional 359,607 shares during the period. Verition Fund Management LLC bought a new stake in shares of Symantec in the 2nd quarter worth approximately $795,000. Martin & Co. Inc. TN lifted its position in shares of Symantec by 0.8% in the 2nd quarter. Martin & Co. Inc. TN now owns 207,285 shares of the technology company’s stock worth $5,856,000 after acquiring an additional 1,575 shares during the period. Scotia Capital Inc. lifted its position in shares of Symantec by 5.5% in the 2nd quarter. Scotia Capital Inc. now owns 26,613 shares of the technology company’s stock worth $752,000 after acquiring an additional 1,385 shares during the period. Finally, Nomura Holdings Inc. lifted its position in shares of Symantec by 103.9% in the 2nd quarter. Nomura Holdings Inc. now owns 46,974 shares of the technology company’s stock worth $1,326,000 after acquiring an additional 1,259,070 shares during the period. Institutional investors own 91.54% of the company’s stock.
Symantec Co. (NASDAQ:SYMC) traded up 0.87% during midday trading on Friday, reaching $32.61. The company had a trading volume of 522,252 shares. Symantec Co. has a 12 month low of $22.76 and a 12 month high of $34.20. The stock’s market cap is $19.98 billion. The firm has a 50-day moving average of $32.42 and a 200-day moving average of $30.58.
Symantec (NASDAQ:SYMC) last released its earnings results on Wednesday, August 2nd. The technology company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.03. Symantec had a negative return on equity of 12.83% and a negative net margin of 9.36%. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the prior year, the company earned $0.29 earnings per share. The company’s quarterly revenue was up 38.9% on a year-over-year basis. On average, equities analysts expect that Symantec Co. will post $1.80 EPS for the current fiscal year.
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In other Symantec news, CEO Gregory S. Clark sold 186,433 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $30.00, for a total transaction of $5,592,990.00. Following the completion of the sale, the chief executive officer now directly owns 1,321,671 shares in the company, valued at $39,650,130. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Suzanne M. Vautrinot sold 2,500 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $32.81, for a total value of $82,025.00. The disclosure for this sale can be found here. Insiders have sold 1,660,816 shares of company stock valued at $48,376,729 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.
A number of analysts have commented on SYMC shares. Zacks Investment Research downgraded Symantec from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Moffett Nathanson started coverage on Symantec in a research report on Wednesday, September 6th. They issued a “neutral” rating and a $33.00 price objective for the company. Standpoint Research upgraded Symantec from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Credit Suisse Group started coverage on Symantec in a research report on Tuesday, September 5th. They issued an “outperform” rating and a $36.00 price objective for the company. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $32.00 price objective on shares of Symantec in a research report on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $31.52.
Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection, cyber security services and Website security. Under threat protection, it offers Advanced Threat Protection, Endpoint Protection, Endpoint Protection Cloud, IT Management Suite, Email Security.Cloud, Data Center Security and Cloud Workload Protection products.
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