Investors Purchase High Volume of Focus Financial Partners Put Options (NASDAQ:FOCS)
Focus Financial Partners Inc (NASDAQ:FOCS) was the recipient of unusually large options trading on Wednesday. Traders acquired 9,284 put options on the stock. This represents an increase of approximately 2,663% compared to the average volume of 336 put options.
A number of research analysts recently commented on FOCS shares. SunTrust Banks set a $26.00 price target on Focus Financial Partners and gave the stock a “hold” rating in a research report on Friday, August 9th. Zacks Investment Research cut Focus Financial Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods upgraded Focus Financial Partners from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $35.00 to $35.50 in a research report on Friday, July 12th. Finally, Bank of America decreased their price target on Focus Financial Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $36.79.
Shares of NASDAQ FOCS traded down $0.49 during mid-day trading on Thursday, reaching $21.41. The company had a trading volume of 266,600 shares, compared to its average volume of 222,074. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.73 and a current ratio of 2.73. Focus Financial Partners has a one year low of $21.15 and a one year high of $49.51. The firm has a market cap of $1.58 billion and a price-to-earnings ratio of 21.88. The company has a 50-day moving average price of $27.32.
A number of institutional investors have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC acquired a new position in shares of Focus Financial Partners in the second quarter worth approximately $2,794,000. Price T Rowe Associates Inc. MD lifted its stake in Focus Financial Partners by 18.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 664,544 shares of the company’s stock valued at $18,149,000 after buying an additional 102,420 shares during the period. Citadel Advisors LLC acquired a new position in Focus Financial Partners in the second quarter valued at approximately $2,883,000. Point72 Hong Kong Ltd acquired a new position in Focus Financial Partners in the second quarter valued at approximately $31,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Focus Financial Partners in the second quarter valued at approximately $323,000. Hedge funds and other institutional investors own 80.90% of the company’s stock.
Focus Financial Partners Company Profile
Focus Financial Partners Inc provides wealth management services to primarily high net worth individuals and families. Its wealth management services include investment advice, financial and tax planning, consulting, tax return preparation, family office services, and other services. The company also offers recordkeeping and administration services.
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