FirstService Co. (NASDAQ:FSV) Sees Large Increase in Short Interest

FirstService Co. (NASDAQ:FSV) (TSE:FSV) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 165,000 shares, a growth of 19.0% from the December 31st total of 138,600 shares. Based on an average daily trading volume, of 89,700 shares, the days-to-cover ratio is presently 1.8 days. Currently, 0.4% of the shares of the company are short sold.

FirstService Trading Down 1.3 %

FirstService stock traded down $2.31 during midday trading on Friday, reaching $181.87. The stock had a trading volume of 127,763 shares, compared to its average volume of 108,025. The stock’s 50-day simple moving average is $185.18 and its 200 day simple moving average is $181.55. FirstService has a twelve month low of $141.26 and a twelve month high of $197.84. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.79 and a current ratio of 1.79. The stock has a market capitalization of $8.23 billion, a PE ratio of 75.78 and a beta of 1.06.

FirstService Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 31st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Tuesday, December 31st. FirstService’s payout ratio is currently 41.67%.

Institutional Trading of FirstService

A number of institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc acquired a new position in shares of FirstService during the fourth quarter worth $29,000. Trust Co. of Vermont purchased a new stake in FirstService during the 4th quarter worth $46,000. Wilmington Savings Fund Society FSB acquired a new position in FirstService in the 3rd quarter worth $53,000. Venturi Wealth Management LLC purchased a new position in FirstService in the 3rd quarter valued at about $66,000. Finally, Blue Trust Inc. grew its stake in shares of FirstService by 158.2% during the fourth quarter. Blue Trust Inc. now owns 728 shares of the financial services provider’s stock valued at $133,000 after acquiring an additional 446 shares in the last quarter. 69.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on FSV. Scotiabank upped their price target on shares of FirstService from $190.00 to $200.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 15th. TD Securities increased their target price on shares of FirstService from $179.00 to $182.00 and gave the company a “hold” rating in a report on Thursday, October 17th. StockNews.com raised FirstService from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Stifel Nicolaus raised their price objective on FirstService from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, Raymond James boosted their target price on FirstService from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $201.67.

About FirstService

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.