California State Teachers Retirement System Takes Position in Switch (SWCH)

California State Teachers Retirement System acquired a new stake in Switch (NYSE:SWCH) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 58,141 shares of the company’s stock, valued at approximately $1,058,000.

Other institutional investors and hedge funds have also modified their holdings of the company. The Manufacturers Life Insurance Company acquired a new position in shares of Switch in the 4th quarter valued at approximately $121,000. FNY Managed Accounts LLC acquired a new position in shares of Switch in the 4th quarter valued at approximately $181,000. Two Sigma Advisers LP acquired a new position in shares of Switch in the 4th quarter valued at approximately $206,000. California Public Employees Retirement System acquired a new position in shares of Switch in the 4th quarter valued at approximately $273,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Switch in the 4th quarter valued at approximately $301,000. Institutional investors and hedge funds own 14.07% of the company’s stock.

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NYSE:SWCH opened at $14.64 on Friday. Switch has a twelve month low of $13.10 and a twelve month high of $24.90. The company has a debt-to-equity ratio of 5.18, a current ratio of 0.34 and a quick ratio of 0.34.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 23rd. Shareholders of record on Friday, April 13th will be given a dividend of $0.0147 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Thursday, April 12th.

Several brokerages recently issued reports on SWCH. Zacks Investment Research lowered Switch from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Credit Suisse Group set a $22.00 price target on Switch and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Cowen initiated coverage on Switch in a research report on Friday, January 19th. They set an “underweight” rating for the company. BMO Capital Markets reduced their price target on Switch from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday, April 3rd. Finally, Raymond James Financial raised Switch from a “market perform” rating to an “outperform” rating in a research report on Monday, March 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. Switch has an average rating of “Buy” and an average price target of $21.33.

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About Switch

Switch, Inc, through its subsidiary, Switch, Ltd., provides colocation space and related services to technology and digital media companies, cloud and managed service providers, financial institutions, government agencies, and telecommunications providers that conduct critical business on the Internet.

Institutional Ownership by Quarter for Switch (NYSE:SWCH)

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