Short Interest Don’t Lie: Can Symantec Corporation (NASDAQ:SYMC)’s Tomorrow be Different? The Stock Had Increase in Shorts

November 17, 2016 - By Pete Kolinski   ·   0 Comments

Short Interest Don't Lie: Can Symantec Corporation (NASDAQ:SYMC)’s Tomorrow be Different? The Stock Had Increase in Shorts

The stock of Symantec Corporation (NASDAQ:SYMC) registered an increase of 3.12% in short interest. SYMC’s total short interest was 24.44 million shares in November as published by FINRA. Its up 3.12% from 23.70 million shares, reported previously. With 8.41 million shares average volume, it will take short sellers 3 days to cover their SYMC’s short positions. The short interest to Symantec Corporation’s float is 4.02%. The stock decreased 1.32% or $0.32 during the last trading session, hitting $23.9. Symantec Corporation (NASDAQ:SYMC) has risen 32.48% since April 15, 2016 and is uptrending. It has outperformed by 27.86% the S&P500.

Symantec Corporation provides security and information management solutions. The company has a market cap of $14.65 billion. The Firm operates its business on a global civilian cyber intelligence threat network and tracks various threats across the Internet from mobile devices, endpoints, and servers across the world. It currently has negative earnings. It is developing solutions for cloud, threat protection, information protection and cyber security services.

Insitutional Activity: The institutional sentiment decreased to 0.8 in Q2 2016. Its down 0.06, from 0.86 in 2016Q1. The ratio dived, as 62 funds sold all Symantec Corporation shares owned while 194 reduced positions. 62 funds bought stakes while 144 increased positions. They now own 560.92 million shares or 1.60% less from 570.06 million shares in 2016Q1.
British Columbia Inv Mgmt reported 297,186 shares or 0.05% of all its holdings. Norinchukin Fincl Bank The has invested 0.02% of its portfolio in Symantec Corporation (NASDAQ:SYMC). Oakworth last reported 0% of its portfolio in the stock. Moreover, Americafirst Cap Ltd Llc has 0% invested in Symantec Corporation (NASDAQ:SYMC) for 5,291 shares. Mackenzie Fincl Corporation has 24,988 shares for 0% of their US portfolio. Hartwell J M Ltd Partnership holds 98,000 shares or 0.51% of its portfolio. Ivory Invest Management Ltd Liability Corporation last reported 1.31% of its portfolio in the stock. Creative Planning holds 0.01% or 38,253 shares in its portfolio. The Massachusetts-based Grimes And has invested 0.48% in Symantec Corporation (NASDAQ:SYMC). Kbc Nv last reported 469,238 shares in the company. Meiji Yasuda Life Insur holds 22,980 shares or 0.08% of its portfolio. Shell Asset Management has 0.05% invested in the company for 113,170 shares. Moreover, Ci Investments has 0.26% invested in Symantec Corporation (NASDAQ:SYMC) for 1.04 million shares. Oak Associates Ltd Oh has invested 1.59% of its portfolio in Symantec Corporation (NASDAQ:SYMC). Tower Research Capital Limited Liability Corp (Trc) owns 5,317 shares or 0.01% of their US portfolio.

Insider Transactions: Since June 14, 2016, the stock had 0 insider buys, and 8 selling transactions for $2.49 million net activity. $71,250 worth of shares were sold by Vautrinot Suzanne M on Wednesday, June 15. 15,474 shares were sold by Cappellanti-Wolf Amy L., worth $385,026. Rosch Francis C also sold $83,000 worth of Symantec Corporation (NASDAQ:SYMC) on Wednesday, September 7. Another trade for 40,000 shares valued at $1.00 million was sold by TAYLOR SCOTT C. The insider Fey Michael David sold 13,214 shares worth $322,423. Garfield Mark S. sold $222,344 worth of stock or 11,852 shares.

Symantec Corporation (NASDAQ:SYMC) Ratings Coverage

Out of 19 analysts covering Symantec (NASDAQ:SYMC), 9 rate it a “Buy”, 0 “Sell”, while 10 “Hold”. This means 47% are positive. Symantec has been the topic of 40 analyst reports since August 11, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Citigroup given on Monday, August 22. The rating was maintained by FBR Capital with “Hold” on Tuesday, August 11. The company was maintained on Tuesday, August 11 by Wunderlich. The rating was reinitiated by Goldman Sachs on Monday, March 21 with “Neutral”. The stock of Symantec Corporation (NASDAQ:SYMC) has “Equal-Weight” rating given on Wednesday, March 2 by Barclays Capital. Morgan Stanley upgraded the stock to “Equal Weight” rating in Friday, August 21 report. The rating was maintained by RBC Capital Markets with “Outperform” on Friday, August 5. The stock has “Outperform” rating given by Credit Suisse on Tuesday, August 11. The stock of Symantec Corporation (NASDAQ:SYMC) earned “Neutral” rating by BTIG Research on Thursday, September 10. The rating was downgraded by Citigroup on Tuesday, August 11 to “Buy”.

SYMC Company Profile

Symantec Corporation, incorporated on April 19, 1988, provides security and information management solutions. The Firm operates its business on a global civilian cyber intelligence threat network and tracks various threats across the Internet from mobile devices, endpoints, and servers across the world. The Firm is developing solutions for cloud, threat protection, information protection and cyber security services. The Firm operates through two divisions: Consumer Security and Enterprise Security. The Company’s services include business critical services, consulting services, customer success services, cyber security services and education services.

Another recent and important Symantec Corporation (NASDAQ:SYMC) news was published by Nasdaq.com which published an article titled: “Symantec Corporation (SYMC) Ex-Dividend Date Scheduled for November 17, 2016” on November 16, 2016.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

By Pete Kolinski


Readers Comments (0)





Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our FREE daily email newsletter:


Recent Market News

>