Safeguard Scientifics (NYSE:SFE) Coverage Initiated by Analysts at StockNews.com

Stock analysts at StockNews.com started coverage on shares of Safeguard Scientifics (NYSE:SFE – Get Rating) in a research report issued on Monday. The firm set a “hold” rating on the asset manager’s stock.

Safeguard Scientifics Stock Performance

SFE opened at $2.28 on Monday. The stock has a market capitalization of $37.21 million, a P/E ratio of -2.65 and a beta of 0.95. The company’s 50-day simple moving average is $3.08 and its two-hundred day simple moving average is $3.39. Safeguard Scientifics has a 52-week low of $2.28 and a 52-week high of $5.59.

Hedge Funds Weigh In On Safeguard Scientifics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp lifted its stake in Safeguard Scientifics by 28.5% during the 1st quarter. State Street Corp now owns 18,054 shares of the asset manager’s stock valued at $94,000 after acquiring an additional 4,003 shares during the period. Legal & General Group Plc increased its position in shares of Safeguard Scientifics by 5.3% during the 2nd quarter. Legal & General Group Plc now owns 95,711 shares of the asset manager’s stock valued at $357,000 after purchasing an additional 4,815 shares during the last quarter. EJF Capital LLC increased its position in shares of Safeguard Scientifics by 5.6% during the 1st quarter. EJF Capital LLC now owns 172,955 shares of the asset manager’s stock valued at $903,000 after purchasing an additional 9,151 shares during the last quarter. Almitas Capital LLC increased its position in shares of Safeguard Scientifics by 11.7% during the 4th quarter. Almitas Capital LLC now owns 796,632 shares of the asset manager’s stock valued at $2,470,000 after purchasing an additional 83,187 shares during the last quarter. Finally, First Manhattan Co. increased its position in shares of Safeguard Scientifics by 1.5% during the 1st quarter. First Manhattan Co. now owns 992,316 shares of the asset manager’s stock valued at $5,179,000 after purchasing an additional 14,260 shares during the last quarter. Institutional investors own 50.86% of the company’s stock.

About Safeguard Scientifics

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Safeguard Scientifics, Inc engages in the provision capital to technology-driven businesses in healthcare, financial services, and digital media. The company was founded by Warren V. Musser and Frank A. Diamond in 1953 and is headquartered in Radnor, PA.