First Data Corp (FDC) Stake Lowered by ETF Managers Group LLC

ETF Managers Group LLC decreased its stake in shares of First Data Corp (NYSE:FDC) by 15.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 640,867 shares of the business services provider’s stock after selling 117,810 shares during the quarter. ETF Managers Group LLC owned about 0.07% of First Data worth $10,837,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in FDC. Vanguard Group Inc grew its position in shares of First Data by 18.9% during the 3rd quarter. Vanguard Group Inc now owns 46,971,246 shares of the business services provider’s stock worth $1,149,387,000 after buying an additional 7,465,388 shares during the period. Morgan Stanley grew its position in shares of First Data by 55.8% during the 3rd quarter. Morgan Stanley now owns 8,211,648 shares of the business services provider’s stock worth $200,939,000 after buying an additional 2,939,632 shares during the period. PNC Financial Services Group Inc. grew its position in shares of First Data by 5,503.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,636,665 shares of the business services provider’s stock worth $64,520,000 after buying an additional 2,589,611 shares during the period. Canada Pension Plan Investment Board grew its position in First Data by 13.4% in the 3rd quarter. Canada Pension Plan Investment Board now owns 18,728,704 shares of the business services provider’s stock valued at $458,291,000 after purchasing an additional 2,220,347 shares during the period. Finally, BlackRock Inc. grew its position in First Data by 6.8% in the 3rd quarter. BlackRock Inc. now owns 29,739,940 shares of the business services provider’s stock valued at $727,737,000 after purchasing an additional 1,897,915 shares during the period. 56.29% of the stock is owned by institutional investors.

FDC has been the subject of several research reports. Craig Hallum reduced their price target on shares of First Data from $35.00 to $27.00 and set a “fair value” rating for the company in a research report on Thursday, January 17th. KeyCorp reduced their price target on shares of First Data from $25.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, January 2nd. They noted that the move was a valuation call. ValuEngine raised shares of First Data from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Barclays downgraded shares of First Data from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $24.00 to $23.00 in a research report on Tuesday, January 22nd. Finally, Cowen downgraded shares of First Data from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $28.00 to $22.74 in a research report on Thursday, January 17th. Fifteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $24.79.

In other First Data news, insider Cynthia A. Armine-Klein sold 99,510 shares of First Data stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $19.00, for a total transaction of $1,890,690.00. Following the transaction, the insider now directly owns 662,767 shares of the company’s stock, valued at approximately $12,592,573. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Barry C. Mccarthy sold 113,515 shares of First Data stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $19.13, for a total transaction of $2,171,541.95. Following the transaction, the insider now directly owns 368,571 shares in the company, valued at $7,050,763.23. The disclosure for this sale can be found here. 5.60% of the stock is owned by insiders.

FDC opened at $25.43 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.47. The firm has a market cap of $23.83 billion, a price-to-earnings ratio of 19.87, a PEG ratio of 1.35 and a beta of 2.31. First Data Corp has a 1 year low of $14.73 and a 1 year high of $26.62.

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About First Data

First Data Corporation provides electronic commerce solutions for merchants, financial institutions, and card issuers worldwide. It operates through three segments: Global Business Solutions (GBS), Global Financial Solutions (GFS), and Network & Security Solutions (NSS). The GBS segment offers retail point-of-sale merchant acquiring and e-commerce services; and mobile payment services, as well as its cloud-based Clover point-of-sale operating system, which includes a marketplace for proprietary and third-party business applications.

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Institutional Ownership by Quarter for First Data (NYSE:FDC)

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