Short Interest in First Data Corporation (FDC) Grows By 19.9%
First Data Corporation (NYSE:FDC) was the recipient of a significant growth in short interest in November. As of November 15th, there was short interest totalling 23,612,430 shares, a growth of 19.9% from the October 31st total of 19,687,441 shares. Based on an average trading volume of 6,674,398 shares, the days-to-cover ratio is currently 3.5 days. Approximately 5.4% of the company’s stock are short sold.
In related news, insider Christopher M. Foskett sold 10,254 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $18.40, for a total transaction of $188,673.60. Following the sale, the insider now directly owns 430,294 shares of the company’s stock, valued at $7,917,409.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Andrew Gelb sold 7,473 shares of the stock in a transaction on Monday, November 20th. The shares were sold at an average price of $17.12, for a total value of $127,937.76. Following the sale, the insider now directly owns 417,652 shares in the company, valued at $7,150,202.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 25,200 shares of company stock valued at $423,964 and have sold 77,445 shares valued at $1,394,613. 6.30% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of FDC. American Century Companies Inc. raised its stake in First Data by 4,509.6% during the 2nd quarter. American Century Companies Inc. now owns 4,545,711 shares of the business services provider’s stock valued at $82,732,000 after purchasing an additional 4,447,098 shares during the period. Prudential Financial Inc. raised its stake in First Data by 4.7% during the 2nd quarter. Prudential Financial Inc. now owns 1,270,900 shares of the business services provider’s stock valued at $23,131,000 after purchasing an additional 57,600 shares during the period. Russell Investments Group Ltd. raised its stake in First Data by 51.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 159,661 shares of the business services provider’s stock valued at $2,905,000 after purchasing an additional 54,118 shares during the period. BNP Paribas Arbitrage SA raised its stake in First Data by 55.0% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 1,117,960 shares of the business services provider’s stock valued at $20,168,000 after purchasing an additional 396,859 shares during the period. Finally, Todd Asset Management LLC bought a new stake in First Data during the 2nd quarter valued at approximately $8,893,000. 49.07% of the stock is currently owned by hedge funds and other institutional investors.
First Data (FDC) opened at $16.29 on Friday. First Data has a 12-month low of $13.96 and a 12-month high of $19.23. The company has a debt-to-equity ratio of 3.58, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $15,040.00 and a PE ratio of 13.19.
First Data (NYSE:FDC) last posted its quarterly earnings data on Monday, October 30th. The business services provider reported $0.40 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.40. First Data had a return on equity of 26.60% and a net margin of 5.99%. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the previous year, the firm earned $0.34 EPS. The business’s quarterly revenue was up 4.8% on a year-over-year basis. sell-side analysts predict that First Data will post 1.29 earnings per share for the current year.
TRADEMARK VIOLATION WARNING: This article was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this article on another publication, it was illegally copied and reposted in violation of international copyright and trademark legislation. The original version of this article can be read at https://www.thecerbatgem.com/2017/12/02/short-interest-in-first-data-corporation-fdc-grows-by-19-9.html.
About First Data
First Data Corporation is a provider of commerce-enabling technology and solutions for merchants, financial institutions and card issuers. The Company’s segments are Global Business Solutions (GBS), Global Financial Solutions (GFS), Network & Security Solutions (NSS), and Corporate. The GBS segment provides businesses of all sizes and types with a range of solutions at the point of sale, including merchant acquiring, e-commerce, mobile commerce, point-of-sale, and other business solutions.
Receive News & Stock Ratings for First Data Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Data Corporation and related stocks with our FREE daily email newsletter.