Focus Financial Partners (NASDAQ:FOCS) Reaches New 52-Week High at $53.00

Focus Financial Partners Inc. (NASDAQ:FOCS)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $53.00 and last traded at $52.99, with a volume of 2332042 shares trading hands. The stock had previously closed at $52.40.

Analyst Upgrades and Downgrades

Separately, TheStreet downgraded Focus Financial Partners from a “b-” rating to a “c” rating in a report on Monday, August 7th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $50.13.

Focus Financial Partners Trading Down 0.0 %

The company has a fifty day simple moving average of $52.40 and a two-hundred day simple moving average of $51.95. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 1.90. The company has a market cap of $4.16 billion, a PE ratio of 1,059.80 and a beta of 1.28.

Focus Financial Partners (NASDAQ:FOCS) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.07). Focus Financial Partners had a return on equity of 24.55% and a net margin of 2.77%. The company had revenue of $583.81 million for the quarter, compared to analysts’ expectations of $593.55 million. Analysts anticipate that Focus Financial Partners Inc. will post 3.44 EPS for the current year.

Institutional Investors Weigh In On Focus Financial Partners

Several large investors have recently bought and sold shares of FOCS. Alberta Investment Management Corp increased its holdings in shares of Focus Financial Partners by 25.0% in the 2nd quarter. Alberta Investment Management Corp now owns 100,000 shares of the company’s stock valued at $5,251,000 after acquiring an additional 20,000 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Focus Financial Partners by 99.1% in the 2nd quarter. Alliancebernstein L.P. now owns 391,758 shares of the company’s stock valued at $20,571,000 after purchasing an additional 195,026 shares during the period. Wells Fargo & Company MN boosted its position in shares of Focus Financial Partners by 104.4% in the 2nd quarter. Wells Fargo & Company MN now owns 26,327 shares of the company’s stock valued at $1,382,000 after purchasing an additional 13,450 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Focus Financial Partners by 20,359.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 78,358 shares of the company’s stock valued at $4,115,000 after purchasing an additional 77,975 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Focus Financial Partners in the 2nd quarter valued at about $314,000. Hedge funds and other institutional investors own 86.96% of the company’s stock.

About Focus Financial Partners

Focus Financial Partners Inc provides wealth management services to primarily ultra-high and high net worth individuals, families, and business entities. Its wealth management services include investment advice, financial and tax planning, consulting, tax return preparation, family office services, and other services.