Advisor Resource Council Increases Holdings in Switch, Inc. (NYSE:SWCH)

Advisor Resource Council grew its holdings in shares of Switch, Inc. (NYSE:SWCHGet Rating) by 168.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,984 shares of the company’s stock after purchasing an additional 43,926 shares during the quarter. Advisor Resource Council’s holdings in Switch were worth $2,005,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in SWCH. PNC Financial Services Group Inc. increased its position in shares of Switch by 113.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,472 shares of the company’s stock valued at $37,000 after purchasing an additional 783 shares during the last quarter. Total Clarity Wealth Management Inc. purchased a new stake in shares of Switch during the 4th quarter valued at $43,000. Fieldpoint Private Securities LLC increased its position in shares of Switch by 298.1% during the 4th quarter. Fieldpoint Private Securities LLC now owns 1,652 shares of the company’s stock valued at $47,000 after purchasing an additional 1,237 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Switch during the 4th quarter valued at $64,000. Finally, Steward Partners Investment Advisory LLC increased its position in shares of Switch by 196.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,155 shares of the company’s stock valued at $90,000 after purchasing an additional 2,092 shares during the last quarter. 51.25% of the stock is owned by hedge funds and other institutional investors.

Shares of SWCH traded down $0.10 during trading hours on Thursday, reaching $33.35. 81,712 shares of the company’s stock traded hands, compared to its average volume of 5,204,871. The stock has a market cap of $8.14 billion, a PE ratio of 833.21 and a beta of 0.71. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 2.83. The firm’s 50 day simple moving average is $30.57 and its 200-day simple moving average is $27.74. Switch, Inc. has a 12 month low of $18.39 and a 12 month high of $33.84.

Switch (NYSE:SWCHGet Rating) last released its earnings results on Tuesday, May 10th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The firm had revenue of $164.60 million during the quarter, compared to the consensus estimate of $163.82 million. Switch had a return on equity of 2.81% and a net margin of 1.05%. The business’s quarterly revenue was up 25.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.08 EPS. As a group, analysts expect that Switch, Inc. will post 0.19 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 6th. Investors of record on Tuesday, May 24th will be given a $0.0525 dividend. This is an increase from Switch’s previous quarterly dividend of $0.05. The ex-dividend date is Monday, May 23rd. This represents a $0.21 dividend on an annualized basis and a yield of 0.63%. Switch’s payout ratio is presently 525.13%.

Several equities research analysts recently weighed in on the company. William Blair lowered Switch from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 11th. Wells Fargo & Company lowered Switch from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $28.00 to $31.00 in a report on Friday, March 25th. Zacks Investment Research upgraded Switch from a “sell” rating to a “hold” rating in a research note on Tuesday. Cowen downgraded Switch from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 11th. Finally, TheStreet downgraded Switch from a “b-” rating to a “c-” rating in a research note on Friday, February 25th. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $29.91.

In related news, Director Thomas A. Thomas sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $33.46, for a total value of $1,338,400.00. Following the completion of the sale, the director now owns 3,118,397 shares in the company, valued at approximately $104,341,563.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 29.18% of the company’s stock.

Switch Company Profile (Get Rating)

Switch, Inc, through its subsidiary, Switch, Ltd., provides colocation space and related services. It develops and operates data centers in Nevada, Michigan, and Georgia. The company serves technology and digital media companies, financial institutions, government agencies, and network and telecommunications providers, as well as cloud, IT, and software providers.

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Institutional Ownership by Quarter for Switch (NYSE:SWCH)

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