Switch Inc (NYSE:SWCH) Director Donald D. Snyder sold 50,000 shares of the company’s stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $7.25, for a total transaction of $362,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of NYSE SWCH opened at $7.27 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.87. Switch Inc has a 1-year low of $7.00 and a 1-year high of $18.57.
Switch (NYSE:SWCH) last posted its quarterly earnings data on Tuesday, November 13th. The company reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). Switch had a negative return on equity of 1.84% and a negative net margin of 16.29%. The business had revenue of $102.80 million for the quarter, compared to analyst estimates of $102.84 million. During the same quarter in the prior year, the company earned $0.08 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. On average, research analysts anticipate that Switch Inc will post 0.08 EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of SWCH. Principal Financial Group Inc. boosted its stake in shares of Switch by 5.3% during the 1st quarter. Principal Financial Group Inc. now owns 273,344 shares of the company’s stock worth $4,349,000 after buying an additional 13,662 shares during the last quarter. Nisa Investment Advisors LLC acquired a new position in shares of Switch during the 2nd quarter worth about $103,000. Wells Fargo & Company MN boosted its stake in shares of Switch by 47.1% during the 2nd quarter. Wells Fargo & Company MN now owns 6,479,394 shares of the company’s stock worth $78,855,000 after buying an additional 2,074,569 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Switch by 92.6% during the 2nd quarter. Sei Investments Co. now owns 35,657 shares of the company’s stock worth $434,000 after buying an additional 17,139 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Switch by 13.2% during the 2nd quarter. Rhumbline Advisers now owns 33,893 shares of the company’s stock worth $412,000 after buying an additional 3,964 shares during the last quarter. Institutional investors own 19.08% of the company’s stock.
A number of research firms recently commented on SWCH. Raymond James restated a “hold” rating and issued a $11.00 price objective on shares of Switch in a research report on Sunday, December 2nd. BMO Capital Markets lowered their price objective on shares of Switch from $20.00 to $14.00 and set an “average” rating for the company in a research report on Tuesday, August 14th. They noted that the move was a valuation call. Credit Suisse Group set a $14.00 price objective on shares of Switch and gave the company a “buy” rating in a research report on Wednesday, November 14th. Stifel Nicolaus set a $13.00 price objective on shares of Switch and gave the company a “buy” rating in a research report on Wednesday, November 14th. Finally, Zacks Investment Research cut shares of Switch from a “hold” rating to a “sell” rating in a research report on Friday, November 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. Switch has an average rating of “Hold” and a consensus target price of $14.90.
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Switch, Inc, through its subsidiary, Switch, Ltd., provides colocation space and related services to technology and digital media companies, cloud and managed service providers, financial institutions, and telecommunications providers that conduct critical business on the Internet. The company develops and operates data centers in Nevada, Michigan, and Georgia.
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