Swiss National Bank purchased a new stake in Switch Inc (NYSE:SWCH) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 51,700 shares of the company’s stock, valued at approximately $677,000.

Several other large investors also recently added to or reduced their stakes in the stock. Coastal Investment Advisors Inc. boosted its stake in Switch by 446.4% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 5,464 shares of the company’s stock valued at $72,000 after buying an additional 4,464 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new stake in Switch in the first quarter worth approximately $90,000. BNP Paribas Arbitrage SA boosted its stake in shares of Switch by 328.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 9,121 shares of the company’s stock worth $94,000 after acquiring an additional 6,993 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Switch during the 2nd quarter worth $161,000. Finally, SG Americas Securities LLC purchased a new position in shares of Switch during the 2nd quarter worth $252,000. Institutional investors and hedge funds own 21.30% of the company’s stock.

SWCH traded up $0.07 on Friday, reaching $16.11. 2,389 shares of the company’s stock were exchanged, compared to its average volume of 1,201,336. The company’s 50 day moving average is $15.20 and its 200-day moving average is $12.41. The company has a market cap of $3.86 billion, a price-to-earnings ratio of 178.67, a PEG ratio of 10.92 and a beta of 0.53. Switch Inc has a twelve month low of $6.39 and a twelve month high of $16.95. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.97 and a current ratio of 0.97.

Switch (NYSE:SWCH) last released its earnings results on Wednesday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The firm had revenue of $111.59 million for the quarter, compared to analyst estimates of $109.47 million. Switch had a return on equity of 2.60% and a net margin of 1.05%. Switch’s revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.02 earnings per share. Sell-side analysts forecast that Switch Inc will post 0.13 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were paid a $0.029 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date was Friday, August 16th. Switch’s payout ratio is 133.33%.

SWCH has been the topic of a number of research reports. ValuEngine downgraded shares of Switch from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. Zacks Investment Research downgraded shares of Switch from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $12.11.

In other Switch news, major shareholder William Gonsalves Balelo sold 583,343 shares of Switch stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $16.30, for a total value of $9,508,490.90. The sale was disclosed in a filing with the SEC, which is available through this link. 28.39% of the stock is currently owned by company insiders.

Switch Profile

Switch, Inc, through its subsidiary, Switch, Ltd., provides colocation space and related services primarily to technology and digital media companies in the United States. It develops and operates data centers in Nevada and Michigan. The company also serves cloud and managed service providers, financial institutions, IT and software providers, government agencies, network and telecommunications providers, and others that conduct critical business on the Internet.

See Also: P/E Growth (PEG)

Institutional Ownership by Quarter for Switch (NYSE:SWCH)

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