Synchrony Financial (NYSE:SYF) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 16,444,720 shares, an increase of 30.2% from the August 15th total of 12,632,032 shares. Based on an average daily trading volume, of 5,155,099 shares, the short-interest ratio is presently 3.2 days. Approximately 2.1% of the shares of the company are sold short.
In other Synchrony Financial news, Director Paget Leonard Alves acquired 2,000 shares of the business’s stock in a transaction dated Monday, July 24th. The stock was purchased at an average price of $30.85 per share, with a total value of $61,700.00. Following the transaction, the director now directly owns 8,521 shares in the company, valued at approximately $262,872.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.03% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of SYF. BlackRock Inc. raised its stake in shares of Synchrony Financial by 2,275.1% during the first quarter. BlackRock Inc. now owns 48,272,035 shares of the financial services provider’s stock valued at $1,655,730,000 after purchasing an additional 46,239,640 shares in the last quarter. Berkshire Hathaway Inc. purchased a new position in Synchrony Financial during the 2nd quarter valued at about $520,747,000. Janus Henderson Group PLC grew its stake in shares of Synchrony Financial by 1,820.5% in the 2nd quarter. Janus Henderson Group PLC now owns 10,934,573 shares of the financial services provider’s stock valued at $326,070,000 after buying an additional 10,365,219 shares in the last quarter. FMR LLC grew its stake in shares of Synchrony Financial by 27.1% in the 2nd quarter. FMR LLC now owns 36,964,054 shares of the financial services provider’s stock valued at $1,102,267,000 after buying an additional 7,874,689 shares in the last quarter. Finally, Capital World Investors bought a new stake in shares of Synchrony Financial in the 2nd quarter valued at approximately $202,269,000. Institutional investors and hedge funds own 87.05% of the company’s stock.
Several analysts have recently issued reports on SYF shares. ValuEngine cut shares of Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Jefferies Group LLC reissued a “buy” rating and issued a $40.00 price objective on shares of Synchrony Financial in a research report on Friday, June 9th. BidaskClub upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Zacks Investment Research upgraded shares of Synchrony Financial from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 28th. Finally, Instinet restated a “buy” rating and issued a $35.00 target price (down from $38.00) on shares of Synchrony Financial in a research note on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $37.61.
Synchrony Financial (SYF) opened at 31.05 on Friday. The company’s 50-day moving average is $29.92 and its 200-day moving average is $30.47. Synchrony Financial has a 52-week low of $26.01 and a 52-week high of $38.06. The firm has a market capitalization of $24.70 billion, a price-to-earnings ratio of 11.66 and a beta of 1.01.
Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. Synchrony Financial had a net margin of 13.84% and a return on equity of 15.30%. The firm had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the previous year, the company posted $0.58 earnings per share. Equities analysts predict that Synchrony Financial will post $2.59 earnings per share for the current year.
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Synchrony Financial Company Profile
Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.
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