Magnetar Financial LLC Invests $14.62 Million in First Data Corporation (FDC)
Magnetar Financial LLC bought a new position in First Data Corporation (NYSE:FDC) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 810,192 shares of the business services provider’s stock, valued at approximately $14,616,000. Magnetar Financial LLC owned approximately 0.09% of First Data at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of FDC. Pacer Advisors Inc. increased its stake in First Data by 8.9% during the second quarter. Pacer Advisors Inc. now owns 5,558 shares of the business services provider’s stock worth $101,000 after acquiring an additional 452 shares during the last quarter. Advisor Group Inc. increased its stake in First Data by 113.3% during the second quarter. Advisor Group Inc. now owns 5,580 shares of the business services provider’s stock worth $102,000 after acquiring an additional 2,964 shares during the last quarter. Macquarie Group Ltd. bought a new stake in First Data during the third quarter worth approximately $117,000. Riverhead Capital Management LLC bought a new stake in First Data during the second quarter worth approximately $135,000. Finally, First Manhattan Co. increased its stake in First Data by 200.0% during the third quarter. First Manhattan Co. now owns 7,500 shares of the business services provider’s stock worth $135,000 after acquiring an additional 5,000 shares during the last quarter. Institutional investors own 49.09% of the company’s stock.
In other news, CEO Frank Bisignano acquired 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were bought at an average price of $16.82 per share, with a total value of $420,500.00. Following the completion of the purchase, the chief executive officer now directly owns 7,107,398 shares in the company, valued at $119,546,434.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher M. Foskett sold 10,254 shares of the stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $18.40, for a total value of $188,673.60. Following the completion of the transaction, the insider now directly owns 430,294 shares in the company, valued at approximately $7,917,409.60. The disclosure for this sale can be found here. In the last three months, insiders purchased 25,200 shares of company stock worth $423,964 and sold 77,445 shares worth $1,394,613. 6.30% of the stock is owned by corporate insiders.
Several equities research analysts have weighed in on the company. Piper Jaffray Companies reissued an “overweight” rating and set a $23.00 price objective (up from $22.00) on shares of First Data in a research note on Thursday, August 10th. BidaskClub cut First Data from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Barclays reissued a “buy” rating and set a $24.00 price objective on shares of First Data in a research note on Tuesday. SunTrust Banks reduced their price objective on First Data to $19.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Buckingham Research assumed coverage on First Data in a research note on Monday, October 2nd. They set a “buy” rating and a $23.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $19.61.
First Data Corporation (FDC) remained flat at $$16.25 on Thursday. 5,722,000 shares of the company traded hands, compared to its average volume of 4,458,249. The stock has a market cap of $15,006.32, a P/E ratio of 12.90, a PEG ratio of 1.10 and a beta of 1.51. First Data Corporation has a 1-year low of $13.96 and a 1-year high of $19.23. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.58.
First Data (NYSE:FDC) last announced its quarterly earnings data on Monday, October 30th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.40. First Data had a return on equity of 26.60% and a net margin of 5.99%. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the prior year, the firm earned $0.34 earnings per share. First Data’s revenue was up 4.8% compared to the same quarter last year. research analysts expect that First Data Corporation will post 1.28 earnings per share for the current fiscal year.
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First Data Profile
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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