Magnetar Financial LLC Invests $373,000 in Symantec Corporation (SYMC) Stock
Magnetar Financial LLC bought a new position in shares of Symantec Corporation (NASDAQ:SYMC) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 11,377 shares of the technology company’s stock, valued at approximately $373,000.
Other institutional investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Symantec by 7.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,982 shares of the technology company’s stock worth $112,000 after buying an additional 292 shares during the last quarter. Sun Life Financial INC increased its holdings in shares of Symantec by 44,100.0% in the 2nd quarter. Sun Life Financial INC now owns 4,420 shares of the technology company’s stock worth $125,000 after buying an additional 4,410 shares during the last quarter. Harfst & Associates Inc. bought a new position in shares of Symantec in the 2nd quarter worth $127,000. Johnson Financial Group Inc. increased its holdings in shares of Symantec by 6.2% in the 2nd quarter. Johnson Financial Group Inc. now owns 5,596 shares of the technology company’s stock worth $158,000 after buying an additional 325 shares during the last quarter. Finally, United Bank Inc. bought a new position in shares of Symantec in the 3rd quarter worth $200,000. 95.02% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Francis C. Rosch sold 57,103 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $27.42, for a total value of $1,565,764.26. Following the completion of the sale, the executive vice president now directly owns 325,026 shares of the company’s stock, valued at approximately $8,912,212.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Anita M. Sands sold 2,000 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $33.51, for a total transaction of $67,020.00. Following the completion of the sale, the director now directly owns 37,386 shares of the company’s stock, valued at $1,252,804.86. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 447,225 shares of company stock valued at $13,081,030. Corporate insiders own 1.30% of the company’s stock.
Shares of Symantec Corporation (NASDAQ SYMC) opened at $28.75 on Friday. The firm has a market cap of $17,820.00, a price-to-earnings ratio of 45.90, a price-to-earnings-growth ratio of 2.92 and a beta of 1.07. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.72. Symantec Corporation has a 12-month low of $23.77 and a 12-month high of $34.20.
Symantec (NASDAQ:SYMC) last announced its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.14. Symantec had a negative net margin of 5.29% and a positive return on equity of 12.33%. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the prior year, the company posted $0.30 EPS. The firm’s revenue for the quarter was up 25.7% compared to the same quarter last year. equities research analysts expect that Symantec Corporation will post 1.05 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 13th. Stockholders of record on Monday, November 20th were given a $0.075 dividend. The ex-dividend date was Friday, November 17th. This represents a $0.30 annualized dividend and a dividend yield of 1.04%. Symantec’s dividend payout ratio is -51.72%.
A number of brokerages have recently commented on SYMC. BidaskClub raised shares of Symantec from a “sell” rating to a “hold” rating in a report on Tuesday. Stifel Nicolaus reaffirmed a “hold” rating and issued a $27.00 price objective on shares of Symantec in a research note on Friday, November 3rd. Morgan Stanley cut their price objective on shares of Symantec from $34.00 to $31.00 and set an “equal weight” rating for the company in a research note on Friday, November 3rd. Evercore ISI reaffirmed a “hold” rating and issued a $25.00 price objective on shares of Symantec in a research note on Thursday, November 2nd. Finally, Barclays reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Symantec in a research note on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $32.39.
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.
Want to see what other hedge funds are holding SYMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Symantec Corporation (NASDAQ:SYMC).
Receive News & Ratings for Symantec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Symantec and related companies with Analyst Ratings Network's FREE daily email newsletter.