Focus Financial Partners Inc (FOCS) Sees Large Decrease in Short Interest

Focus Financial Partners Inc (NASDAQ:FOCS) was the recipient of a large drop in short interest in November. As of November 15th, there was short interest totalling 1,380,239 shares, a drop of 33.2% from the October 31st total of 2,067,763 shares. Based on an average daily trading volume, of 397,762 shares, the days-to-cover ratio is presently 3.5 days. Currently, 6.4% of the shares of the company are short sold.

Several brokerages have recently issued reports on FOCS. BMO Capital Markets began coverage on shares of Focus Financial Partners in a research note on Monday, August 20th. They set an “outperform” rating for the company. Bank of America began coverage on shares of Focus Financial Partners in a research note on Monday, August 20th. They set a “neutral” rating and a $42.00 price target for the company. Goldman Sachs Group began coverage on shares of Focus Financial Partners in a research note on Monday, August 20th. They set a “neutral” rating and a $42.00 price target for the company. Zacks Investment Research upgraded shares of Focus Financial Partners from a “hold” rating to a “strong-buy” rating and set a $48.00 price target for the company in a research note on Monday, October 22nd. Finally, William Blair began coverage on shares of Focus Financial Partners in a research note on Monday, August 20th. They set a “market perform” rating for the company. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $44.00.

Several hedge funds have recently modified their holdings of FOCS. Peregrine Capital Management LLC purchased a new stake in shares of Focus Financial Partners during the 3rd quarter worth approximately $9,254,000. Strs Ohio purchased a new position in Focus Financial Partners in the 3rd quarter valued at approximately $256,000. First Trust Advisors LP purchased a new position in Focus Financial Partners in the 3rd quarter valued at approximately $2,886,000. CFO4Life Group LLC purchased a new position in Focus Financial Partners in the 3rd quarter valued at approximately $390,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in Focus Financial Partners in the 3rd quarter valued at approximately $9,594,000. Institutional investors own 13.27% of the company’s stock.

Shares of FOCS stock opened at $30.92 on Friday. The company has a current ratio of 2.56, a quick ratio of 2.56 and a debt-to-equity ratio of 1.23. Focus Financial Partners has a 12-month low of $29.45 and a 12-month high of $49.51.

Focus Financial Partners (NASDAQ:FOCS) last issued its quarterly earnings results on Tuesday, November 13th. The company reported $0.46 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.46. Focus Financial Partners had a negative net margin of 4.64% and a negative return on equity of 4.59%. The company had revenue of $235.70 million during the quarter, compared to analyst estimates of $240.01 million. During the same quarter last year, the business posted $0.33 EPS. Focus Financial Partners’s quarterly revenue was up 30.8% compared to the same quarter last year. As a group, equities research analysts forecast that Focus Financial Partners will post 1.16 EPS for the current year.

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About Focus Financial Partners

Focus Financial Partners Inc provides wealth management services to primarily high net worth individuals and families. The company's wealth management services include investment advice, financial and tax planning, consulting, tax return preparation, family office services, and other services. It also offers recordkeeping and administration services.

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