Today’s Shorts Alert: Is Buying Synchrony Financial (NYSE:SYF), Having Higher Short Interest a Winning Strategy?

November 17, 2016 - By Winifred Garcia   ·   0 Comments

Today's Shorts Alert: Is Buying Synchrony Financial (NYSE:SYF), Having Higher Short Interest a Winning Strategy?

The stock of Synchrony Financial (NYSE:SYF) registered an increase of 21.84% in short interest. SYF’s total short interest was 13.08 million shares in November as published by FINRA. Its up 21.84% from 10.74 million shares, reported previously. With 5.93 million shares average volume, it will take short sellers 2 days to cover their SYF’s short positions. The short interest to Synchrony Financial’s float is 1.59%. The stock decreased 2.19% or $0.73 during the last trading session, hitting $32.61. Synchrony Financial (NYSE:SYF) has risen 12.68% since April 15, 2016 and is uptrending. It has outperformed by 8.06% the S&P500.

Synchrony Financial is a consumer financial services company. The company has a market cap of $26.62 billion. The Firm 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. It has a 12.25 P/E ratio. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.

Synchrony Financial (NYSE:SYF) Ratings Coverage

Out of 19 analysts covering Synchrony Financial (NYSE:SYF), 15 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 79% are positive. Synchrony Financial has been the topic of 28 analyst reports since July 20, 2015 according to StockzIntelligence Inc. The stock has “Neutral” rating given by Macquarie Research on Wednesday, May 11. The firm has “Buy” rating given on Wednesday, August 26 by Buckingham Research. The stock of Synchrony Financial (NYSE:SYF) earned “Buy” rating by DA Davidson on Wednesday, January 13. The firm has “Conviction Buy” rating given on Wednesday, January 13 by Goldman Sachs. On Monday, November 23 the stock rating was upgraded by Sterne Agee CRT to “Buy”. On Wednesday, June 15 the stock rating was maintained by Citigroup with “Buy”. BMO Capital Markets maintained it with “Market Perform” rating and $36 target price in Monday, October 19 report. Nomura upgraded the shares of SYF in a report on Tuesday, October 20 to “Buy” rating. The rating was initiated by Sterne Agee CRT with “Neutral” on Thursday, September 10. The stock of Synchrony Financial (NYSE:SYF) has “Outperform” rating given on Tuesday, October 11 by Wedbush.

SYF Company Profile

Synchrony Financial (Synchrony), incorporated on September 12, 2003, is a consumer financial services company. The Firm 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. It offers its credit products through its subsidiary, Synchrony Bank (the Bank). Through the Bank, it offers a range of deposit products insured by the Federal Deposit Insurance Corporation (FDIC), including certificates of deposit, individual retirement accounts (IRAs), money market accounts and savings accounts.

More notable recent Synchrony Financial (NYSE:SYF) news were published by: Businessinsider.com which released: “Synchrony Financial has simplified mobile buying” on October 31, 2016, also Fool.com with their article: “Synchrony Financial: Give Credit to Its Third Quarter” published on October 24, 2016, Thestreet.com published: “Synchrony Financial (SYF) Stock Climbs on Q3 Results” on October 21, 2016. More interesting news about Synchrony Financial (NYSE:SYF) were released by: Businesswire.com and their article: “Synchrony Financial Plug-in Easily Integrates Credit into Retailers’ Mobile Apps” published on October 24, 2016 as well as Blogs.Wsj.com‘s news article titled: “Synchrony Financial Joins R3 Blockchain Group” with publication date: October 24, 2016.

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By Winifred Garcia


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