StockNews.com Initiates Coverage on Safeguard Scientifics (NYSE:SFE)

Analysts at StockNews.com started coverage on shares of Safeguard Scientifics (NYSE:SFE – Get Rating) in a report released on Tuesday. The firm set a “hold” rating on the asset manager’s stock.

Safeguard Scientifics Trading Down 2.9 %

SFE stock opened at $1.70 on Tuesday. The company has a market capitalization of $27.72 million, a PE ratio of -2.50 and a beta of 0.90. Safeguard Scientifics has a 12-month low of $1.42 and a 12-month high of $4.68. The business’s fifty day moving average price is $1.88 and its 200 day moving average price is $2.73.

Safeguard Scientifics (NYSE:SFE – Get Rating) last released its earnings results on Thursday, March 9th. The asset manager reported ($0.30) EPS for the quarter.

Insider Transactions at Safeguard Scientifics

In other news, major shareholder Thomas A. Satterfield, Jr. bought 48,032 shares of Safeguard Scientifics stock in a transaction dated Tuesday, April 11th. The stock was acquired at an average cost of $1.53 per share, with a total value of $73,488.96. Following the acquisition, the insider now owns 356,700 shares of the company’s stock, valued at $545,751. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, major shareholder Thomas A. Satterfield, Jr. bought 50,000 shares of the stock in a transaction on Tuesday, March 14th. The shares were purchased at an average price of $1.76 per share, for a total transaction of $88,000.00. Following the acquisition, the insider now owns 221,000 shares in the company, valued at $388,960. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Thomas A. Satterfield, Jr. acquired 48,032 shares of the firm’s stock in a transaction dated Tuesday, April 11th. The shares were acquired at an average price of $1.53 per share, for a total transaction of $73,488.96. Following the acquisition, the insider now directly owns 356,700 shares of the company’s stock, valued at $545,751. The disclosure for this purchase can be found here. Insiders own 7.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SFE. State Street Corp grew its stake in shares of Safeguard Scientifics by 28.5% during the first quarter. State Street Corp now owns 18,054 shares of the asset manager’s stock valued at $94,000 after acquiring an additional 4,003 shares in the last quarter. Legal & General Group Plc grew its stake in Safeguard Scientifics by 5.3% in the second quarter. Legal & General Group Plc now owns 95,711 shares of the asset manager’s stock worth $357,000 after purchasing an additional 4,815 shares in the last quarter. Bank of America Corp DE grew its stake in Safeguard Scientifics by 32,504.1% in the first quarter. Bank of America Corp DE now owns 128,786 shares of the asset manager’s stock worth $222,000 after purchasing an additional 128,391 shares in the last quarter. Clayton Partners LLC grew its stake in Safeguard Scientifics by 15.7% in the first quarter. Clayton Partners LLC now owns 143,349 shares of the asset manager’s stock worth $247,000 after purchasing an additional 19,429 shares in the last quarter. Finally, EJF Capital LLC boosted its stake in Safeguard Scientifics by 5.6% in the first quarter. EJF Capital LLC now owns 172,955 shares of the asset manager’s stock valued at $903,000 after acquiring an additional 9,151 shares during the period. 50.86% of the stock is owned by hedge funds and other institutional investors.

Safeguard Scientifics Company Profile

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Safeguard Scientifics, Inc engages in the provision capital to technology-driven businesses in healthcare, financial services, and digital media. The company was founded by Warren V. Musser and Frank A. Diamond in 1953 and is headquartered in Radnor, PA.