Switch Inc (NYSE:SWCH) Director Thomas A. Thomas acquired 22,000 shares of Switch stock in a transaction dated Thursday, August 30th. The shares were acquired at an average price of $11.52 per share, with a total value of $253,440.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

SWCH opened at $11.17 on Wednesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.78 and a quick ratio of 2.78. Switch Inc has a 1-year low of $10.00 and a 1-year high of $24.90.

Switch (NYSE:SWCH) last released its earnings results on Monday, August 13th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The firm had revenue of $102.20 million during the quarter, compared to analyst estimates of $102.78 million. Switch had a positive return on equity of 0.49% and a negative net margin of 12.35%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the company earned $0.07 earnings per share. equities research analysts anticipate that Switch Inc will post 0.11 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Shareholders of record on Friday, August 24th were given a $0.0147 dividend. The ex-dividend date of this dividend was Thursday, August 23rd. This represents a $0.06 dividend on an annualized basis and a yield of 0.53%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC acquired a new stake in shares of Switch during the 4th quarter valued at $638,000. Wells Fargo & Company MN lifted its position in shares of Switch by 4.5% during the 1st quarter. Wells Fargo & Company MN now owns 4,404,825 shares of the company’s stock valued at $70,081,000 after acquiring an additional 189,143 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Switch by 63.6% during the 1st quarter. Rhumbline Advisers now owns 29,929 shares of the company’s stock valued at $476,000 after acquiring an additional 11,637 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Switch by 31.2% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 107,178 shares of the company’s stock valued at $1,706,000 after acquiring an additional 25,509 shares during the last quarter. Finally, Buckley Wealth Management LLC lifted its position in shares of Switch by 32.3% during the 1st quarter. Buckley Wealth Management LLC now owns 50,300 shares of the company’s stock valued at $800,000 after acquiring an additional 12,275 shares during the last quarter. Hedge funds and other institutional investors own 18.10% of the company’s stock.

Several equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Switch from a “hold” rating to a “sell” rating in a research report on Thursday, August 16th. Jefferies Financial Group cut their target price on Switch to $12.00 and set a “hold” rating for the company in a research report on Tuesday, August 14th. BMO Capital Markets cut their target price on Switch from $20.00 to $14.00 and set an “average” rating for the company in a research report on Tuesday, August 14th. They noted that the move was a valuation call. Stifel Nicolaus cut their target price on Switch from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, August 14th. Finally, William Blair restated an “outperform” rating on shares of Switch in a research report on Tuesday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $17.11.

About Switch

Switch, Inc, through its subsidiary, Switch, Ltd., provides colocation space and related services to technology and digital media companies, cloud and managed service providers, financial institutions, and telecommunications providers that conduct critical business on the Internet. The company develops and operates data centers in Nevada, Michigan, and Georgia.

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