Clark Estates Incny Exits Position in Symantec Corporation (SYMC)

Symantec Corporation (SYMC) : Clark Estates Incny has sold out all of its stake in Symantec Corporation during the most recent quarter, according to the disclosure filed by the company on Aug 1, 2016 with the SEC. The investment management company has sold out 119,000 shares of Symantec Corporation which is valued at $2,487,100.

Other Hedge Funds, Including , Minneapolis Portfolio Management Group added SYMC to its portfolio by purchasing 1,179,850 company shares during the most recent quarter which is valued at $24,658,865. Symantec Corporation makes up approx 4.23% of Minneapolis Portfolio Management Group’s portfolio.Stoneridge Investment Partners boosted its stake in SYMC in the latest quarter, The investment management firm added 215,129 additional shares and now holds a total of 284,571 shares of Symantec Corporation which is valued at $5,773,946. Symantec Corporation makes up approx 0.82% of Stoneridge Investment Partners’s portfolio.Grimes Company reduced its stake in SYMC by selling 103,643 shares or 37.16% in the most recent quarter. The Hedge Fund company now holds 175,300 shares of SYMC which is valued at $3,556,837. Symantec Corporation makes up approx 0.46% of Grimes Company’s portfolio.Creative Planning reduced its stake in SYMC by selling 6,511 shares or 14.55% in the most recent quarter. The Hedge Fund company now holds 38,253 shares of SYMC which is valued at $807,138. Symantec Corporation makes up approx 0.01% of Creative Planning’s portfolio.Next Financial Group Inc reduced its stake in SYMC by selling 2,095 shares or 62.41% in the most recent quarter. The Hedge Fund company now holds 1,262 shares of SYMC which is valued at $26,123. Symantec Corporation makes up approx 0.01% of Next Financial Group Inc’s portfolio.

Symantec Corporation opened for trading at $20.95 and hit $21.22 on the upside on Thursday, eventually ending the session at $21.03, with a gain of 0.62% or 0.13 points. The heightened volatility saw the trading volume jump to 1,23,07,264 shares. Company has a market cap of $12,945 M.

On the company’s financial health, Symantec Corporation reported $0.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.25. The company had revenue of $884.00 million for the quarter, compared to analysts expectations of $877.37 million. The company’s revenue was down -3.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.40 EPS.

Many Wall Street Analysts have commented on Symantec Corporation. Company shares were Reiterated by Jefferies on Aug 2, 2016 to “Hold”, Firm has raised the Price Target to $ 20 from a previous price target of $17 .Company shares were Reiterated by MKM Partners on Aug 2, 2016 to “Neutral”, Firm has raised the Price Target to $ 21 from a previous price target of $18 .Symantec Corporation was Downgraded by Standpoint Research to ” Hold” on Jul 12, 2016.

Symantec Corporation provides security backup and availability solutions. The Company operates in three segments: Consumer Security Enterprise Security and Information Management. The Company’s products and services offer protection of information in any environment from the mobile device to the enterprise data center to cloud-based systems. Consumers receive automatic downloads of the latest virus definitions application bug fixes and patches for its consumer product. The Company’s enterprise security support program offers annual maintenance support contracts including content upgrades and technical support. The Company’s Consumer Security segment offers Norton-branded services which provide multi-layer security and identity protection on desktop and mobile operating systems to defend against online threats to individuals families and small businesses.

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