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

StockNews.com initiated coverage on shares of Safeguard Scientifics (NYSE:SFE) in a research note published on Wednesday morning. The brokerage issued a hold rating on the asset manager’s stock.

Safeguard Scientifics Price Performance

NYSE:SFE opened at $1.03 on Wednesday. The firm has a 50 day simple moving average of $1.32 and a 200-day simple moving average of $1.66. The firm has a market cap of $17.02 million, a PE ratio of -1.16 and a beta of 0.92. Safeguard Scientifics has a 1-year low of $1.02 and a 1-year high of $4.53.

Safeguard Scientifics (NYSE:SFE) last posted its quarterly earnings data on Thursday, August 10th. The asset manager reported ($0.18) earnings per share for the quarter.

Insider Buying and Selling

In related news, major shareholder Thomas A. Satterfield, Jr. purchased 50,000 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was purchased at an average price of $1.17 per share, with a total value of $58,500.00. Following the completion of the transaction, the insider now owns 525,000 shares of the company’s stock, valued at approximately $614,250. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Safeguard Scientifics

Several institutional investors have recently bought and sold shares of SFE. State Street Corp boosted its stake in shares of Safeguard Scientifics by 17.2% in the second quarter. State Street Corp now owns 21,165 shares of the asset manager’s stock valued at $79,000 after purchasing an additional 3,111 shares during the period. Bank of America Corp DE boosted its stake in shares of 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 valued at $222,000 after purchasing an additional 128,391 shares during the period. Clayton Partners LLC boosted its stake in shares of Safeguard Scientifics by 15.7% in the first quarter. Clayton Partners LLC now owns 143,349 shares of the asset manager’s stock valued at $247,000 after purchasing an additional 19,429 shares during the period. Legal & General Group Plc boosted its stake in shares of Safeguard Scientifics by 5.3% in the second quarter. Legal & General Group Plc now owns 95,711 shares of the asset manager’s stock valued at $357,000 after purchasing an additional 4,815 shares during the period. Finally, EJF Capital LLC boosted its stake in shares of 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 purchasing an additional 9,151 shares during the period. 44.14% of the stock is currently owned by hedge funds and other institutional investors.

About Safeguard Scientifics

Safeguard Scientifics, Inc no longer investing. It is a private equity and venture capital firm specializing in expansion financings, growth capital, management buyouts, recapitalizations, industry consolidations, corporate spinouts, growth stage, and early stage financings. It initially invests in a Series A-C round and opportunistically in a seed round.