Riverhead Capital Management LLC decreased its stake in First Data (NYSE:FDC) by 85.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,100 shares of the business services provider’s stock after selling 53,900 shares during the period. Riverhead Capital Management LLC’s holdings in First Data were worth $146,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of FDC. Dimensional Fund Advisors LP boosted its position in shares of First Data by 2.4% in the third quarter. Dimensional Fund Advisors LP now owns 707,902 shares of the business services provider’s stock worth $12,770,000 after buying an additional 16,716 shares during the period. Creative Planning purchased a new stake in shares of First Data in the fourth quarter worth about $415,000. Schwab Charles Investment Management Inc. boosted its position in shares of First Data by 7.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,579,738 shares of the business services provider’s stock worth $26,398,000 after buying an additional 104,553 shares during the period. State of Alaska Department of Revenue purchased a new stake in shares of First Data in the fourth quarter worth about $611,000. Finally, SG Americas Securities LLC boosted its position in shares of First Data by 79.9% in the fourth quarter. SG Americas Securities LLC now owns 26,618 shares of the business services provider’s stock worth $445,000 after buying an additional 11,821 shares during the period. 52.53% of the stock is owned by institutional investors.
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In other First Data news, insider Anthony S. Marino sold 3,627 shares of the company’s stock in a transaction that occurred on Wednesday, May 23rd. The stock was sold at an average price of $19.49, for a total transaction of $70,690.23. Following the sale, the insider now owns 273,727 shares in the company, valued at $5,334,939.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Anthony S. Marino sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 2nd. The shares were sold at an average price of $18.10, for a total value of $126,700.00. Following the sale, the insider now owns 270,100 shares in the company, valued at approximately $4,888,810. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 300 shares of company stock worth $5,139 and have sold 128,127 shares worth $2,469,640. Corporate insiders own 5.60% of the company’s stock.
Several equities research analysts have recently weighed in on FDC shares. Zacks Investment Research downgraded First Data from a “hold” rating to a “sell” rating in a research report on Tuesday, March 20th. Sanford C. Bernstein raised First Data from a “market perform” rating to an “outperform” rating in a research report on Wednesday, February 14th. ValuEngine cut First Data from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. BMO Capital Markets boosted their price target on First Data from $21.50 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 13th. Finally, Mizuho reiterated a “buy” rating and issued a $19.00 price target on shares of First Data in a research note on Monday, April 23rd. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $21.09.
Shares of First Data opened at $19.28 on Friday, according to MarketBeat.com. First Data has a 52-week low of $14.73 and a 52-week high of $19.85. The company has a market cap of $17.91 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 1.41 and a beta of 1.40. The company has a debt-to-equity ratio of 2.88, a quick ratio of 1.01 and a current ratio of 1.01.
First Data (NYSE:FDC) last announced its quarterly earnings data on Monday, April 30th. The business services provider reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.03. First Data had a return on equity of 23.21% and a net margin of 13.27%. The firm had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter in the prior year, the firm posted $0.28 earnings per share. First Data’s revenue for the quarter was down 18.5% compared to the same quarter last year. equities research analysts predict that First Data will post 1.24 EPS for the current fiscal year.
About First Data
First Data Corporation provides electronic commerce solutions for merchants, financial institutions, and card issuers worldwide. It operates through three segments: Global Business Solutions (GBS), Global Financial Solutions (GFS), and Network & Security Solutions (NSS). The GBS segment offers retail point-of-sale merchant acquiring and e-commerce services; and mobile payment services, as well as its cloud-based Clover point-of-sale operating system, which includes a marketplace for proprietary and third-party business applications.
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