Symantec Corp (SYMC) Shareholder Minneapolis Portfolio Management Group LLC Has Cut Stake by $8.08 Million as Market Valuation Declined

May 21, 2018 - By Hazel Jackson

Symantec Corporation (NASDAQ:SYMC) LogoInvestors sentiment increased to 0.92 in 2017 Q4. Its up 0.06, from 0.86 in 2017Q3. It is positive, as 56 investors sold SYMC shares while 144 reduced holdings. 45 funds opened positions while 139 raised stakes. 548.16 million shares or 4.09% less from 571.53 million shares in 2017Q3 were reported. State Of Alaska Department Of Revenue owns 96,901 shares. Shell Asset Communication accumulated 38,513 shares or 0.02% of the stock. Salem Counselors has invested 0% in Symantec Corporation (NASDAQ:SYMC). Lenox Wealth Advsr holds 0.06% or 8,000 shares in its portfolio. The New York-based Jefferies Group Inc Limited Liability Com has invested 0.03% in Symantec Corporation (NASDAQ:SYMC). Washington Bank invested in 0.01% or 2,300 shares. Dnb Asset Mgmt As, a Norway-based fund reported 66,233 shares. C M Bidwell Assocs Ltd accumulated 33 shares or 0% of the stock. Pictet Asset Ltd reported 2.90 million shares. D E Shaw And stated it has 0% in Symantec Corporation (NASDAQ:SYMC). Avalon Advsrs Ltd Co holds 0.21% or 244,713 shares. Bancorporation Of Ny Mellon Corporation has invested 0.03% in Symantec Corporation (NASDAQ:SYMC). Ancora Advsrs Ltd Liability stated it has 175,836 shares or 0.26% of all its holdings. Numeric Invsts Ltd Com reported 0.02% stake. Conning reported 13,476 shares.

Since March 5, 2018, it had 0 buys, and 3 sales for $2.63 million activity. $1.38 million worth of Symantec Corporation (NASDAQ:SYMC) shares were sold by Rosch Francis C. The insider Vautrinot Suzanne M sold 4,000 shares worth $110,880.

Minneapolis Portfolio Management Group Llc decreased its stake in Symantec Corp (SYMC) by 25.29% based on its latest 2017Q4 regulatory filing with the SEC. Minneapolis Portfolio Management Group Llc sold 288,682 shares as the company’s stock declined 9.92% with the market. The institutional investor held 852,670 shares of the prepackaged software company at the end of 2017Q4, valued at $23.93 million, down from 1.14M at the end of the previous reported quarter. Minneapolis Portfolio Management Group Llc who had been investing in Symantec Corp for a number of months, seems to be less bullish one the $13.40 billion market cap company. The stock decreased 2.86% or $0.635 during the last trading session, reaching $21.555. About 8.19 million shares traded. Symantec Corporation (NASDAQ:SYMC) has declined 16.28% since May 21, 2017 and is downtrending. It has underperformed by 27.83% the S&P500.

Analysts await Symantec Corporation (NASDAQ:SYMC) to report earnings on August, 1. They expect $0.34 earnings per share, up 126.67 % or $0.19 from last year’s $0.15 per share. SYMC’s profit will be $211.32 million for 15.85 P/E if the $0.34 EPS becomes a reality. After $0.26 actual earnings per share reported by Symantec Corporation for the previous quarter, Wall Street now forecasts 30.77 % EPS growth.

More notable recent Symantec Corporation (NASDAQ:SYMC) news were published by: Nasdaq.com which released: “Why Caesars Entertainment, NXP Semiconductor, and Symantec Jumped Today” on May 14, 2018, also Seekingalpha.com with their article: “Symantec: Parsing The Details” published on May 15, 2018, Businesswire.com published: “SYMC LOSS NOTICE: Rosen Law Firm Reminds Symantec Corporation Investors of Important Deadline in First Filed …” on May 21, 2018. More interesting news about Symantec Corporation (NASDAQ:SYMC) were released by: Fool.com and their article: “Is Symantec a Broken Company or a Broken Stock?” published on May 17, 2018 as well as Seekingalpha.com‘s news article titled: “Symantec: Safety At Home, But In Your Portfolio?” with publication date: May 11, 2018.

Symantec Corporation (NASDAQ:SYMC) Ratings Coverage

Among 17 analysts covering Symantec (NASDAQ:SYMC), 2 have Buy rating, 2 Sell and 13 Hold. Therefore 12% are positive. Symantec had 20 analyst reports since December 19, 2017 according to SRatingsIntel. Macquarie Research downgraded the stock to “Neutral” rating in Friday, May 11 report. The firm has “Hold” rating given on Friday, May 11 by Barclays Capital. On Thursday, February 1 the stock rating was maintained by Barclays Capital with “Overweight”. The company was upgraded on Friday, April 6 by Standpoint Research. The rating was downgraded by First Analysis to “Equal-Weight” on Friday, May 11. The company was downgraded on Monday, January 22 by Credit Suisse. The company was maintained on Thursday, February 1 by Bank of America. Credit Suisse maintained it with “Neutral” rating and $26 target in Friday, May 11 report. The stock of Symantec Corporation (NASDAQ:SYMC) has “Perform” rating given on Friday, May 11 by Oppenheimer. The rating was upgraded by Jefferies to “Hold” on Tuesday, May 15.

Symantec Corporation (NASDAQ:SYMC) Institutional Positions Chart

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