Synchrony Financial (SYF) Short Interest Update
Synchrony Financial (NYSE:SYF) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totalling 13,687,662 shares, a decrease of 16.8% from the August 31st total of 16,444,720 shares. Currently, 1.7% of the company’s stock are sold short. Based on an average daily volume of 6,638,511 shares, the days-to-cover ratio is currently 2.1 days.
Several analysts have issued reports on the company. Zacks Investment Research cut Synchrony Financial from a “hold” rating to a “sell” rating in a research note on Monday, September 25th. ValuEngine upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. BidaskClub lowered Synchrony Financial from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. TheStreet upgraded Synchrony Financial from a “c” rating to a “b” rating in a research report on Monday, July 31st. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $40.00 price target on shares of Synchrony Financial in a report on Thursday, September 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $37.61.
In related news, Director Paget Leonard Alves purchased 2,000 shares of Synchrony Financial stock in a transaction dated Monday, July 24th. The shares were acquired at an average price of $30.85 per share, with a total value of $61,700.00. Following the completion of the transaction, the director now owns 8,521 shares of the company’s stock, valued at approximately $262,872.85. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.03% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Westside Investment Management Inc. boosted its stake in Synchrony Financial by 32.1% in the second quarter. Westside Investment Management Inc. now owns 3,567 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 867 shares in the last quarter. First Quadrant L P CA increased its stake in shares of Synchrony Financial by 55.4% in the second quarter. First Quadrant L P CA now owns 3,726 shares of the financial services provider’s stock valued at $111,000 after buying an additional 1,328 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of Synchrony Financial by 39.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,560 shares of the financial services provider’s stock valued at $136,000 after buying an additional 1,280 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Synchrony Financial by 19.7% in the second quarter. State of Alaska Department of Revenue now owns 5,338 shares of the financial services provider’s stock valued at $159,000 after buying an additional 880 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Synchrony Financial by 9.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,387 shares of the financial services provider’s stock valued at $160,000 after buying an additional 486 shares in the last quarter. Hedge funds and other institutional investors own 87.05% of the company’s stock.
Shares of Synchrony Financial (NYSE SYF) opened at 31.05 on Monday. The company has a market cap of $24.70 billion, a PE ratio of 11.66 and a beta of 1.01. Synchrony Financial has a 12-month low of $26.01 and a 12-month high of $38.06. The stock’s 50 day moving average price is $29.92 and its 200-day moving average price is $30.47.
Synchrony Financial (NYSE:SYF) last announced its earnings results on Friday, July 21st. The financial services provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.58 by $0.03. The business had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.59 billion. Synchrony Financial had a return on equity of 15.30% and a net margin of 13.84%. During the same period in the previous year, the business earned $0.58 EPS. On average, equities research analysts forecast that Synchrony Financial will post $2.59 earnings per share for the current year.
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About Synchrony Financial
Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.
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