121,186 Shares in Switch Inc (SWCH) Purchased by Engineers Gate Manager LP

Engineers Gate Manager LP purchased a new stake in Switch Inc (NYSE:SWCH) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 121,186 shares of the company’s stock, valued at approximately $2,204,000.

A number of other institutional investors also recently modified their holdings of SWCH. Schwab Charles Investment Management Inc. bought a new stake in Switch in the 4th quarter valued at $1,486,000. Shikiar Asset Management Inc. bought a new stake in Switch in the 4th quarter valued at $1,157,000. American Assets Capital Advisers LLC bought a new stake in Switch in the 4th quarter valued at $720,000. Finally, FNY Managed Accounts LLC bought a new stake in Switch in the 4th quarter valued at $181,000. 0.24% of the stock is owned by hedge funds and other institutional investors.

SWCH has been the subject of a number of research reports. Zacks Investment Research raised shares of Switch from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Friday, January 5th. Credit Suisse Group set a $22.00 price target on shares of Switch and gave the company a “buy” rating in a report on Saturday, December 16th. BTIG Research initiated coverage on shares of Switch in a report on Tuesday, October 31st. They issued a “buy” rating and a $22.00 price target for the company. Jefferies Group initiated coverage on shares of Switch in a report on Tuesday, October 31st. They issued a “hold” rating for the company. Finally, Wells Fargo & Co initiated coverage on shares of Switch in a report on Tuesday, October 31st. They issued a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $21.83.

Switch Inc (NYSE SWCH) opened at $15.55 on Tuesday. Switch Inc has a 1-year low of $15.55 and a 1-year high of $24.90. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 5.18.

Switch (NYSE:SWCH) last released its quarterly earnings data on Monday, November 13th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $97.70 million for the quarter, compared to the consensus estimate of $95.81 million. The firm’s revenue for the quarter was up 19.6% on a year-over-year basis. equities research analysts expect that Switch Inc will post 0.02 earnings per share for the current fiscal year.

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Switch Company Profile

Switch, Inc is a technology infrastructure company. The Company is developer and operator of the SUPERNAP, data center facilities, and provides colocation, telecommunications, cloud services, and content ecosystems. The Company designs, constructs and operates hyperscale data centers that address the growing challenges facing the data center industry.

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