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

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

FirstService Stock Performance

Shares of NASDAQ:FSV traded up $3.10 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 stock’s 50-day moving average is $176.48 and its two-hundred day moving average is $182.04. FirstService has a 52-week low of $141.26 and a 52-week high of $197.84. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.79. The stock has a market capitalization of $7.66 billion, a P/E ratio of 56.75 and a beta of 1.12.

FirstService Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 31st will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.65%. This is a boost from FirstService’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 31st. FirstService’s dividend payout ratio is presently 37.04%.

Analyst Ratings Changes

Several research firms have recently issued reports on FSV. StockNews.com cut shares of FirstService from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Raymond James lifted their price objective on shares of FirstService from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, FirstService presently has a consensus rating of “Moderate Buy” and an average target price of $201.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Capital A Wealth Management LLC acquired a new position in shares of FirstService during the fourth quarter worth about $218,000. Parr Mcknight Wealth Management Group LLC acquired a new position in FirstService during the fourth quarter worth about $1,211,000. Public Employees Retirement System of Ohio grew its position in FirstService by 123.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 15,151 shares of the financial services provider’s stock worth $2,743,000 after buying an additional 8,375 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in FirstService by 8.0% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 94,842 shares of the financial services provider’s stock worth $17,158,000 after buying an additional 6,990 shares during the period. Finally, Voloridge Investment Management LLC grew its position in FirstService by 20.1% during the fourth quarter. Voloridge Investment Management LLC now owns 58,213 shares of the financial services provider’s stock worth $10,538,000 after buying an additional 9,752 shares during the period. 69.35% of the stock is currently owned by institutional investors and hedge funds.

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.