After Reaching Milestone, Is Symantec Corporation (NASDAQ:SYMC)’s Short Interest Revealing Something?

September 30, 2018 - By Matthew Richard

Symantec Corporation (NASDAQ:SYMC) Logo

Investors sentiment decreased to 0.91 in Q2 2018. Its down 0.08, from 0.99 in 2018Q1. It worsened, as 63 investors sold Symantec Corporation shares while 130 reduced holdings. 57 funds opened positions while 119 raised stakes. 522.12 million shares or 2.38% less from 534.82 million shares in 2018Q1 were reported.
Price T Rowe Associates Incorporated Md owns 99.90 million shares or 0.32% of their US portfolio. Walleye Trading Limited Co reported 766,000 shares or 0.09% of all its holdings. California Pub Employees Retirement System invested in 1.96M shares or 0.06% of the stock. Huntington Bank & Trust owns 9,077 shares for 0% of their portfolio. 17,110 were accumulated by Connor Clark & Lunn Invest Management Limited. Chevy Chase has invested 0.05% in Symantec Corporation (NASDAQ:SYMC). Comerica Comml Bank reported 150,576 shares stake. Hanson Mcclain holds 0% in Symantec Corporation (NASDAQ:SYMC) or 835 shares. Clarivest Asset Ltd Llc accumulated 53,000 shares. Moreover, X Management Com Ltd Co has 0.01% invested in Symantec Corporation (NASDAQ:SYMC). 5.00 million were accumulated by Millennium Mgmt Ltd Liability Corporation. Moreover, Contour Asset Mngmt Ltd Limited Liability Company has 2.08% invested in Symantec Corporation (NASDAQ:SYMC) for 2.43M shares. Ontario – Canada-based Manufacturers Life Insurance The has invested 0.02% in Symantec Corporation (NASDAQ:SYMC). Schwab Charles Inv Mngmt stated it has 2.57M shares. Meeder Asset Mngmt, Ohio-based fund reported 194 shares.

Since April 16, 2018, it had 0 buys, and 1 sale for $1.14 million activity.

The stock of Symantec Corporation (NASDAQ:SYMC) registered a decrease of 0.6% in short interest. SYMC’s total short interest was 13.91M shares in September as published by FINRA. Its down 0.6% from 13.99M shares, reported previously. With 8.87M shares average volume, it will take short sellers 2 days to cover their SYMC’s short positions.

The stock increased 0.09% or $0.02 during the last trading session, reaching $21.28. About 3.79M shares traded. Symantec Corporation (NASDAQ:SYMC) has declined 40.41% since September 30, 2017 and is downtrending. It has underperformed by 56.03% the S&P500.

Symantec Corporation, together with its subsidiaries, provides cybersecurity solutions worldwide. The company has market cap of $13.23 billion. It operates through two divisions, Consumer Digital Safety and Enterprise Security. It has a 11.61 P/E ratio. The Consumer Digital Safety segment provides Norton-branded services that provide multi-layer security services across desktop and mobile operating systems, public Wi-Fi connections, and home networks to defend against online threats to individuals, families, and small businesses.

Symantec Corporation (NASDAQ:SYMC) Ratings Coverage

Among 16 analysts covering Symantec (NASDAQ:SYMC), 2 have Buy rating, 1 Sell and 13 Hold. Therefore 13% are positive. Symantec had 18 analyst reports since April 6, 2018 according to SRatingsIntel. Macquarie Research downgraded Symantec Corporation (NASDAQ:SYMC) on Friday, May 11 to “Neutral” rating. UBS maintained it with “Neutral” rating and $21 target in Friday, August 3 report. On Monday, August 6 the stock rating was maintained by Barclays Capital with “Equal-Weight”. First Analysis downgraded the shares of SYMC in report on Friday, May 11 to “Equal-Weight” rating. Stifel Nicolaus maintained the shares of SYMC in report on Tuesday, September 25 with “Hold” rating. The stock of Symantec Corporation (NASDAQ:SYMC) has “Buy” rating given on Friday, April 6 by Standpoint Research. The firm has “Hold” rating by Jefferies given on Tuesday, May 15. The company was upgraded on Tuesday, August 21 by Susquehanna. Morgan Stanley maintained Symantec Corporation (NASDAQ:SYMC) on Monday, June 25 with “Equal-Weight” rating. The firm has “Market Perform” rating by JMP Securities given on Friday, April 27.

More notable recent Symantec Corporation (NASDAQ:SYMC) news were published by: Seekingalpha.com which released: “Symantec: Valuation Seems Tempting Though Uncertainties Remain” on September 22, 2018, also 247Wallst.com with their article: “Why Symantec’s Accounting Probe End Should Remove Major Shareholder Overhang” published on September 24, 2018, Seekingalpha.com published: “Symantec, Starboard announce new board members” on September 17, 2018. More interesting news about Symantec Corporation (NASDAQ:SYMC) were released by: Seekingalpha.com and their article: “Symantec launches free election security service” published on September 18, 2018 as well as Seekingalpha.com‘s news article titled: “Symantec +3% on competed Audit Committee investigation” with publication date: September 24, 2018.

Symantec Corporation (NASDAQ:SYMC) Institutional Positions Chart

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