JFS Wealth Advisors LLC Makes New Investment in Focus Financial Partners Inc (NASDAQ:FOCS)
JFS Wealth Advisors LLC acquired a new position in Focus Financial Partners Inc (NASDAQ:FOCS) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 21,140 shares of the company’s stock, valued at approximately $577,000.
Several other hedge funds have also recently made changes to their positions in FOCS. Buckingham Asset Management LLC grew its position in shares of Focus Financial Partners by 32.6% in the second quarter. Buckingham Asset Management LLC now owns 344,799 shares of the company’s stock valued at $9,416,000 after purchasing an additional 84,705 shares during the last quarter. TimesSquare Capital Management LLC grew its position in Focus Financial Partners by 53.1% during the second quarter. TimesSquare Capital Management LLC now owns 1,930,645 shares of the company’s stock worth $52,726,000 after buying an additional 669,645 shares in the last quarter. Kavar Capital Partners LLC acquired a new stake in Focus Financial Partners during the second quarter worth approximately $27,000. Janus Henderson Group PLC grew its position in Focus Financial Partners by 44.9% during the second quarter. Janus Henderson Group PLC now owns 12,263 shares of the company’s stock worth $335,000 after buying an additional 3,800 shares in the last quarter. Finally, Carnick & Kubik Group LLC grew its position in Focus Financial Partners by 10.0% during the second quarter. Carnick & Kubik Group LLC now owns 14,358 shares of the company’s stock worth $392,000 after buying an additional 1,300 shares in the last quarter. Institutional investors own 78.64% of the company’s stock.
A number of equities research analysts recently issued reports 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 note on Wednesday, July 24th. Bank of America cut their target price on Focus Financial Partners from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Finally, Keefe, Bruyette & Woods upgraded Focus Financial Partners from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $35.00 to $35.50 in a research note on Friday, July 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $35.92.
Focus Financial Partners (NASDAQ:FOCS) last announced its earnings results on Thursday, August 8th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.06. The business had revenue of $301.55 million during the quarter, compared to analyst estimates of $292.29 million. Focus Financial Partners had a positive return on equity of 12.96% and a negative net margin of 2.10%. Focus Financial Partners’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same period last year, the company earned $0.40 EPS. Equities research analysts predict that Focus Financial Partners Inc will post 1.96 earnings per share for the current fiscal year.
Focus Financial Partners 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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