Fred Alger Management Inc. trimmed its stake in Electronics For Imaging, Inc. (NASDAQ:EFII) by 45.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 365,372 shares of the technology company’s stock after selling 301,617 shares during the quarter. Fred Alger Management Inc.’s holdings in Electronics For Imaging were worth $10,789,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EFII. Campbell & CO Investment Adviser LLC purchased a new position in Electronics For Imaging in the third quarter valued at about $213,000. Catalyst Capital Advisors LLC purchased a new position in Electronics For Imaging in the third quarter valued at about $286,000. FDx Advisors Inc. purchased a new position in Electronics For Imaging in the third quarter valued at about $290,000. Royal Bank of Canada boosted its stake in Electronics For Imaging by 202.8% in the second quarter. Royal Bank of Canada now owns 7,209 shares of the technology company’s stock valued at $342,000 after acquiring an additional 4,828 shares during the last quarter. Finally, LaSalle Street Capital Management LLC boosted its stake in Electronics For Imaging by 66.3% in the third quarter. LaSalle Street Capital Management LLC now owns 8,301 shares of the technology company’s stock valued at $354,000 after acquiring an additional 3,308 shares during the last quarter.
Shares of Electronics For Imaging, Inc. (NASDAQ EFII) opened at $28.61 on Friday. The company has a market cap of $1,307.22, a P/E ratio of 110.04, a P/E/G ratio of 39.74 and a beta of 1.09. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.14 and a current ratio of 2.58. Electronics For Imaging, Inc. has a 52 week low of $25.28 and a 52 week high of $51.15.
A number of research firms have weighed in on EFII. Barclays cut shares of Electronics For Imaging from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $33.00 to $31.00 in a research note on Wednesday, January 10th. BidaskClub cut shares of Electronics For Imaging from a “hold” rating to a “sell” rating in a research note on Tuesday, January 30th. Zacks Investment Research upgraded shares of Electronics For Imaging from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. ValuEngine cut shares of Electronics For Imaging from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Finally, Wells Fargo & Co started coverage on shares of Electronics For Imaging in a research note on Tuesday, November 14th. They set a “market perform” rating and a $32.00 price target on the stock. Four research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. Electronics For Imaging currently has an average rating of “Hold” and an average target price of $42.78.
In related news, CEO Guy Gecht sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $29.65, for a total transaction of $266,850.00. Following the sale, the chief executive officer now directly owns 333,450 shares in the company, valued at approximately $9,886,792.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 36,000 shares of company stock worth $1,061,640 over the last 90 days. 1.88% of the stock is currently owned by corporate insiders.
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Electronics For Imaging Company Profile
Electronics For Imaging, Inc is engaged in digital printing, focused on the transformation of the printing, packaging, ceramic tile decoration, and textile industries from the use of traditional analog-based printing to digital on-demand printing. It operates through three segments. The Industrial Inkjet segment consists of its VUTEk and Matan super-wide and wide format display graphics, Reggiani textile, Jetrion label and packaging and Cretaprint ceramic tile decoration and construction material industrial digital inkjet printers; ceramic, water-based, and thermoforming ink, and digital inkjet printer parts, and professional services.
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