Symantec Corporation (SYMC) Short Interest Down 5.9% in December
Symantec Corporation (NASDAQ:SYMC) saw a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 22,580,258 shares, a decrease of 5.9% from the November 30th total of 23,985,296 shares. Based on an average daily volume of 6,753,899 shares, the short-interest ratio is presently 3.3 days. Approximately 3.7% of the shares of the company are short sold.
A number of research firms recently weighed in on SYMC. BidaskClub cut shares of Symantec from a “hold” rating to a “sell” rating in a report on Tuesday, December 19th. Robert W. Baird reaffirmed a “hold” rating and issued a $32.00 price objective on shares of Symantec in a report on Friday, September 8th. Zacks Investment Research raised shares of Symantec from a “sell” rating to a “hold” rating in a report on Tuesday. Deutsche Bank began coverage on shares of Symantec in a report on Tuesday, December 19th. They issued a “hold” rating and a $30.00 price objective on the stock. Finally, Morgan Stanley dropped their price objective on shares of Symantec from $34.00 to $31.00 and set an “equal weight” rating on the stock in a report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the company. Symantec presently has a consensus rating of “Hold” and a consensus price target of $32.29.
Symantec (NASDAQ:SYMC) opened at $28.97 on Friday. The company has a market cap of $17,950.00, a PE ratio of -49.95, a price-to-earnings-growth ratio of 2.92 and a beta of 1.07. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.12 and a current ratio of 1.12. Symantec has a 52 week low of $24.14 and a 52 week high of $34.20.
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 13th. Shareholders of record on Monday, November 20th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, November 17th. This represents a $0.30 annualized dividend and a yield of 1.04%. Symantec’s payout ratio is -51.72%.
In other Symantec news, EVP Francis C. Rosch sold 57,103 shares of the stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $27.42, for a total transaction of $1,565,764.26. Following the sale, the executive vice president now directly owns 325,026 shares of the company’s stock, valued at $8,912,212.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Nicholas R. Noviello sold 375,000 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $29.38, for a total transaction of $11,017,500.00. Following the sale, the chief financial officer now directly owns 565,319 shares in the company, valued at $16,609,072.22. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in SYMC. Blair William & Co. IL increased its stake in Symantec by 2.2% during the 2nd quarter. Blair William & Co. IL now owns 13,309 shares of the technology company’s stock valued at $376,000 after buying an additional 291 shares during the period. Marshall Wace North America L.P. bought a new position in shares of Symantec during the 2nd quarter valued at about $1,415,000. Cambridge Investment Research Advisors Inc. boosted its position in shares of Symantec by 19.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 16,800 shares of the technology company’s stock valued at $475,000 after purchasing an additional 2,737 shares in the last quarter. Commerce Bank boosted its position in shares of Symantec by 352.5% during the 2nd quarter. Commerce Bank now owns 43,888 shares of the technology company’s stock valued at $1,240,000 after purchasing an additional 34,189 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. boosted its position in shares of Symantec by 11.3% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 9,198 shares of the technology company’s stock valued at $260,000 after purchasing an additional 931 shares in the last quarter. 94.74% of the stock is currently owned by hedge funds and other institutional investors.
Symantec Company Profile
Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection and cyber security services. Under threat protection, it offers Advanced Threat Protection, Endpoint Protection, Endpoint Protection Cloud, IT Management Suite, Email Security, Cloud, Data Center Security and Cloud Workload Protection products.
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