First Data Corporation (FDC) Sees Large Growth in Short Interest

First Data Corporation (NYSE:FDC) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 23,612,430 shares, an increase 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 presently 3.5 days. Currently, 5.4% of the company’s stock are short sold.

In other news, insider Andrew Gelb sold 7,473 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $17.12, for a total transaction of $127,937.76. Following the completion of the transaction, the insider now directly owns 417,652 shares of the company’s stock, valued at approximately $7,150,202.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Cynthia A. Armine-Klein sold 28,000 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $17.94, for a total value of $502,320.00. Following the transaction, the insider now directly owns 596,052 shares of the company’s stock, valued at $10,693,172.88. The disclosure for this sale can be found here. Over the last ninety 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. Corporate insiders own 6.30% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. raised its stake in First Data by 8.9% during the 2nd quarter. Pacer Advisors Inc. now owns 5,558 shares of the business services provider’s stock valued at $101,000 after acquiring an additional 452 shares during the last quarter. Advisor Group Inc. raised its stake in shares of First Data by 113.3% during the 2nd quarter. Advisor Group Inc. now owns 5,580 shares of the business services provider’s stock worth $102,000 after buying an additional 2,964 shares in the last quarter. Macquarie Group Ltd. purchased a new position in shares of First Data during the 3rd quarter worth approximately $117,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of First Data by 254.6% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,205 shares of the business services provider’s stock worth $130,000 after buying an additional 5,173 shares in the last quarter. Finally, Riverhead Capital Management LLC purchased a new position in shares of First Data during the 2nd quarter worth approximately $135,000. 49.07% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently issued reports on FDC. Craig Hallum reaffirmed a “buy” rating and set a $25.00 price objective (up from $20.00) on shares of First Data in a research report on Tuesday, August 8th. KeyCorp reissued a “buy” rating and issued a $20.00 target price on shares of First Data in a research report on Friday, October 27th. Cowen reissued a “buy” rating and issued a $20.00 target price on shares of First Data in a research report on Thursday, October 12th. ValuEngine cut First Data from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, BMO Capital Markets raised First Data from a “market perform” rating to an “outperform” rating and upped their target price for the company from $19.00 to $21.50 in a research report on Monday, November 20th. Eight research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $19.63.

Shares of First Data (FDC) opened at $16.29 on Monday. 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 company has a market capitalization of $15,043.26, a P/E ratio of 12.93, a price-to-earnings-growth ratio of 1.10 and a beta of 1.53. First Data has a one year low of $13.96 and a one year high of $19.23.

First Data (NYSE:FDC) last posted its quarterly earnings data on Monday, October 30th. The business services provider reported $0.40 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.08 billion. First Data had a return on equity of 26.60% and a net margin of 5.99%. The firm’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.34 EPS. equities research analysts predict that First Data will post 1.28 earnings per share for the current year.

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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.

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