First Data Corp (NYSE:FDC) Sees Large Growth in Short Interest

First Data Corp (NYSE:FDC) was the target of a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 22,096,100 shares, a growth of 7.7% from the April 30th total of 20,507,200 shares. Based on an average daily volume of 8,450,000 shares, the days-to-cover ratio is currently 2.6 days. Currently, 4.0% of the company’s shares are sold short.

FDC has been the subject of a number of recent research reports. Zacks Investment Research downgraded CGI from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. BMO Capital Markets raised TMAC Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 2nd. Nineteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $25.12.

First Data stock traded up $0.30 on Friday, reaching $28.02. The company’s stock had a trading volume of 6,484,659 shares, compared to its average volume of 5,038,878. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $26.44 billion, a P/E ratio of 23.16, a price-to-earnings-growth ratio of 1.66 and a beta of 1.92. The company’s fifty day moving average is $26.77. First Data has a twelve month low of $15.52 and a twelve month high of $28.19.

First Data (NYSE:FDC) last posted its quarterly earnings data on Tuesday, April 30th. The business services provider reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.09 billion. First Data had a return on equity of 18.04% and a net margin of 11.26%. The business’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.29 earnings per share. As a group, equities research analysts forecast that First Data will post 1.39 earnings per share for the current year.

In other First Data news, insider Michael K. Neborak sold 111,707 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $26.66, for a total transaction of $2,978,108.62. Following the completion of the sale, the insider now directly owns 434,723 shares in the company, valued at approximately $11,589,715.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael K. Neborak sold 6,000 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $25.76, for a total value of $154,560.00. Following the sale, the insider now owns 351,087 shares of the company’s stock, valued at $9,044,001.12. The disclosure for this sale can be found here. Company insiders own 4.87% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Investors Research Corp bought a new stake in First Data in the first quarter valued at about $39,000. Penserra Capital Management LLC bought a new stake in First Data in the fourth quarter valued at about $86,000. Bremer Bank National Association bought a new stake in First Data in the first quarter valued at about $98,000. Signaturefd LLC grew its stake in First Data by 116.6% in the first quarter. Signaturefd LLC now owns 3,716 shares of the business services provider’s stock valued at $98,000 after acquiring an additional 2,000 shares during the period. Finally, Macquarie Group Ltd. acquired a new position in First Data in the fourth quarter valued at about $114,000. Institutional investors and hedge funds own 53.21% of the company’s stock.

About First Data

First Data Corporation provides commerce enabled technology and solutions for merchants, financial institutions, and card issuers in the United States, Canada, Europe, the Middle East, Africa, Latin America, and the Asia Pacific. The company operates through three segments: Global Business Solutions, Global Financial Solutions, and Network & Security Solutions.

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