Black Maple Capital Management LP acquired a new stake in shares of Focus Financial Partners Inc. (NASDAQ:FOCS – Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,160 shares of the company’s stock, valued at approximately $320,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of FOCS. BloombergSen Inc. raised its stake in shares of Focus Financial Partners by 2.6% in the first quarter. BloombergSen Inc. now owns 9,700 shares of the company’s stock valued at $503,000 after acquiring an additional 250 shares during the period. Glazer Capital LLC bought a new stake in Focus Financial Partners in the first quarter worth about $56,195,000. DLD Asset Management LP bought a new stake in Focus Financial Partners in the first quarter worth about $9,674,000. Two Sigma Advisers LP bought a new position in shares of Focus Financial Partners during the first quarter valued at approximately $4,077,000. Finally, Deutsche Bank AG grew its stake in shares of Focus Financial Partners by 59.8% during the first quarter. Deutsche Bank AG now owns 57,657 shares of the company’s stock valued at $2,991,000 after buying an additional 21,567 shares during the last quarter. Hedge funds and other institutional investors own 86.96% of the company’s stock.
Analysts Set New Price Targets
Separately, TheStreet downgraded shares of Focus Financial Partners from a “b-” rating to a “c” rating in a research note on Monday, August 7th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $50.13.
Focus Financial Partners Trading Down 0.0 %
NASDAQ:FOCS opened at $52.99 on Tuesday. The firm has a 50-day simple moving average of $52.48 and a 200-day simple moving average of $52.13. Focus Financial Partners Inc. has a one year low of $30.27 and a one year high of $53.01. The firm has a market cap of $4.16 billion, a P/E ratio of 1,059.80 and a beta of 1.28. The company has a debt-to-equity ratio of 1.90, a quick ratio of 3.59 and a current ratio of 3.59.
Focus Financial Partners (NASDAQ:FOCS – Get Free Report) last posted its earnings results on Thursday, August 3rd. The company reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates 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. Equities analysts anticipate that Focus Financial Partners Inc. will post 3.44 EPS for the current fiscal year.
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.
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