Passport Capital adds Symantec Corporation (SYMC) to its portfolio

Symantec Corporation (SYMC) : Passport Capital added new position in Symantec Corporation during the most recent quarter end. The investment management firm now holds 2,820,278 shares of Symantec Corporation which is valued at $69,463,447 , the company said in a statement filed on Nov 14, 2016 with the SEC.Symantec Corporation makes up approximately 3.00% of Passport Capital’s portfolio.

Other Hedge Funds, Including , Ahl Partners Llp boosted its stake in SYMC in the latest quarter, The investment management firm added 62,133 additional shares and now holds a total of 188,765 shares of Symantec Corporation which is valued at $4,649,282. Symantec Corporation makes up approx 0.17% of Ahl Partners Llp’s portfolio.Winton Group Ltd reduced its stake in SYMC by selling 554,489 shares or 93.16% in the most recent quarter. The Hedge Fund company now holds 40,681 shares of SYMC which is valued at $992,616. Symantec Corporation makes up approx 0.02% of Winton Group Ltd’s portfolio.State Treasurer State Of Michigan boosted its stake in SYMC in the latest quarter, The investment management firm added 2,100 additional shares and now holds a total of 214,849 shares of Symantec Corporation which is valued at $5,420,640. Symantec Corporation makes up approx 0.04% of State Treasurer State Of Michigan’s portfolio.State Of Wisconsin Investment Board reduced its stake in SYMC by selling 708,200 shares or 39.8% in the most recent quarter. The Hedge Fund company now holds 1,071,309 shares of SYMC which is valued at $27,018,413. Symantec Corporation makes up approx 0.11% of State Of Wisconsin Investment Board’s portfolio.Clean Yield Group reduced its stake in SYMC by selling 2,725 shares or 2.11% in the most recent quarter. The Hedge Fund company now holds 126,485 shares of SYMC which is valued at $3,165,920. Symantec Corporation makes up approx 1.41% of Clean Yield Group’s portfolio.

Symantec Corporation closed down -0.08 points or -0.34% at $23.75 with 66,48,611 shares getting traded on Monday. Post opening the session at $23.93, the shares hit an intraday low of $23.56 and an intraday high of $23.98 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Symantec Corporation reported $0.30 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Nov 3, 2016. Analyst had a consensus of $0.20. The company had revenue of $979.00 million for the quarter, compared to analysts expectations of $977.04 million. The company’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.

Many Wall Street Analysts have commented on Symantec Corporation. Symantec Corporation was Initiated by Guggenheim to “Buy” on Sep 15, 2016. Company shares were Resumed by Wunderlich on Sep 13, 2016 to “Buy”, Firm has raised the Price Target to $ 30 from a previous price target of $23 .Symantec Corporation was Upgraded by Citigroup to ” Buy” on Aug 19, 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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