EJF Capital LLC purchased a new position in shares of First Data Corporation (NYSE:FDC) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,350,000 shares of the business services provider’s stock, valued at approximately $24,354,000. First Data makes up about 2.5% of EJF Capital LLC’s investment portfolio, making the stock its 13th largest holding. EJF Capital LLC owned approximately 0.15% of First Data as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. increased its holdings in First Data by 8.9% in the second quarter. Pacer Advisors Inc. now owns 5,558 shares of the business services provider’s stock valued at $101,000 after buying an additional 452 shares during the last quarter. Advisor Group Inc. increased its holdings in First Data by 113.3% in the second quarter. Advisor Group Inc. now owns 5,580 shares of the business services provider’s stock valued at $102,000 after buying an additional 2,964 shares during the last quarter. Macquarie Group Ltd. purchased a new position in First Data in the third quarter valued at $117,000. Riverhead Capital Management LLC purchased a new position in First Data in the second quarter valued at $135,000. Finally, First Manhattan Co. increased its holdings in First Data by 200.0% in the third quarter. First Manhattan Co. now owns 7,500 shares of the business services provider’s stock valued at $135,000 after buying an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 49.09% of the company’s stock.
Shares of First Data Corporation (NYSE:FDC) traded up $0.11 during trading hours on Tuesday, reaching $16.08. 898,187 shares of the company were exchanged, compared to its average volume of 4,438,147. The company has a debt-to-equity ratio of 3.58, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $15,043.26, a P/E ratio of 12.93, a P/E/G ratio of 1.10 and a beta of 1.51. First Data Corporation has a 1 year low of $13.96 and a 1 year high of $19.23.
In other news, insider Christopher M. Foskett sold 10,254 shares of First Data stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $18.40, for a total transaction of $188,673.60. Following the completion of the sale, the insider now directly owns 430,294 shares in the company, valued at approximately $7,917,409.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Andrew Gelb sold 7,473 shares of First Data stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $17.12, for a total transaction of $127,937.76. Following the sale, the insider now owns 417,652 shares of the company’s stock, valued at $7,150,202.24. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 25,200 shares of company stock valued at $423,964 and sold 77,445 shares valued at $1,394,613. 6.30% of the stock is owned by company insiders.
Several equities analysts have issued reports on FDC shares. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $21.00 price objective on shares of First Data in a report on Thursday, August 24th. Zacks Investment Research raised First Data from a “sell” rating to a “hold” rating in a report on Friday, October 27th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $23.00 price objective (up previously from $22.00) on shares of First Data in a report on Thursday, August 10th. Barclays raised their price objective on First Data from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, October 11th. Finally, Credit Suisse Group reaffirmed an “outperform” rating on shares of First Data in a report on Tuesday, September 5th. Eight research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $19.63.
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About First Data
First Data Corporation is a provider of commerce-enabling technology and solutions for merchants, financial institutions and card issuers. The Company’s segments are Global Business Solutions (GBS), Global Financial Solutions (GFS), Network & Security Solutions (NSS), and Corporate. The GBS segment provides businesses of all sizes and types with a range of solutions at the point of sale, including merchant acquiring, e-commerce, mobile commerce, point-of-sale, and other business solutions.
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