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

FirstService Co. (NASDAQ:FSV) (TSE:FSV) was the recipient of a significant growth in short interest in February. As of February 28th, there was short interest totalling 318,000 shares, a growth of 42.8% from the February 13th total of 222,700 shares. Currently, 0.8% of the company’s shares are sold short. Based on an average trading volume of 119,500 shares, the short-interest ratio is currently 2.7 days.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FSV. StockNews.com downgraded shares of FirstService from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Raymond James lifted their price target on shares of FirstService from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, FirstService presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.67.

FirstService Price Performance

FSV traded up $3.10 during trading on Monday, reaching $168.55. The company’s stock had a trading volume of 248,892 shares, compared to its average volume of 92,235. The company has a quick ratio of 1.79, a current ratio of 1.75 and a debt-to-equity ratio of 1.09. The firm has a fifty day simple moving average of $176.48 and a two-hundred day simple moving average of $182.04. FirstService has a 1 year low of $141.26 and a 1 year high of $197.84. The company has a market cap of $7.66 billion, a price-to-earnings ratio of 56.75 and a beta of 1.12.

FirstService Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.65%. This is an increase from FirstService’s previous quarterly dividend of $0.25. FirstService’s dividend payout ratio (DPR) is currently 37.04%.

Institutional Trading of FirstService

Hedge funds and other institutional investors have recently made changes to their positions in the company. Berry Wealth Group LP increased its holdings in FirstService by 5.4% in the 4th quarter. Berry Wealth Group LP now owns 1,786 shares of the financial services provider’s stock valued at $323,000 after purchasing an additional 91 shares during the last quarter. Signaturefd LLC increased its holdings in FirstService by 7.5% in the 4th quarter. Signaturefd LLC now owns 1,363 shares of the financial services provider’s stock valued at $247,000 after purchasing an additional 95 shares during the last quarter. HighTower Advisors LLC increased its holdings in FirstService by 3.5% in the 3rd quarter. HighTower Advisors LLC now owns 2,932 shares of the financial services provider’s stock valued at $533,000 after purchasing an additional 98 shares during the last quarter. Stifel Financial Corp increased its holdings in FirstService by 0.5% in the 4th quarter. Stifel Financial Corp now owns 21,205 shares of the financial services provider’s stock valued at $3,838,000 after purchasing an additional 102 shares during the last quarter. Finally, Raymond James Trust N.A. increased its holdings in FirstService by 3.2% in the 3rd quarter. Raymond James Trust N.A. now owns 3,523 shares of the financial services provider’s stock valued at $643,000 after purchasing an additional 110 shares during the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

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.