50,952 Shares in Switch Inc (NYSE:SWCH) Purchased by Dynamic Technology Lab Private Ltd

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Dynamic Technology Lab Private Ltd acquired a new position in Switch Inc (NYSE:SWCH) in the first quarter, HoldingsChannel reports. The firm acquired 50,952 shares of the company’s stock, valued at approximately $525,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NumerixS Investment Technologies Inc purchased a new position in shares of Switch during the first quarter valued at about $90,000. BlackRock Inc. grew its position in shares of Switch by 4.9% during the first quarter. BlackRock Inc. now owns 1,521,745 shares of the company’s stock valued at $15,688,000 after purchasing an additional 71,266 shares in the last quarter. Royce & Associates LP purchased a new position in shares of Switch during the first quarter valued at about $1,155,000. Parametric Portfolio Associates LLC grew its position in shares of Switch by 15.0% during the first quarter. Parametric Portfolio Associates LLC now owns 420,106 shares of the company’s stock valued at $4,331,000 after purchasing an additional 54,783 shares in the last quarter. Finally, US Bancorp DE grew its position in shares of Switch by 82.2% during the first quarter. US Bancorp DE now owns 2,590,403 shares of the company’s stock valued at $26,707,000 after purchasing an additional 1,168,572 shares in the last quarter. Hedge funds and other institutional investors own 20.25% of the company’s stock.

Shares of NYSE:SWCH opened at $12.59 on Wednesday. Switch Inc has a 1 year low of $6.39 and a 1 year high of $14.37. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 139.89, a price-to-earnings-growth ratio of 6.39 and a beta of 0.60. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.84.

Switch (NYSE:SWCH) last announced its earnings results on Wednesday, May 8th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.02). Switch had a net margin of 0.98% and a return on equity of 1.27%. The business had revenue of $107.03 million for the quarter, compared to analysts’ expectations of $105.43 million. Analysts anticipate that Switch Inc will post 0.17 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 22nd were given a dividend of $0.0294 per share. The ex-dividend date was Tuesday, May 21st. This represents a $0.12 annualized dividend and a dividend yield of 0.93%. Switch’s dividend payout ratio (DPR) is presently 133.33%.

In other Switch news, Director Donald D. Snyder sold 300,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $10.42, for a total transaction of $3,126,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Scott Russell Gragson sold 138,200 shares of Switch stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $10.94, for a total transaction of $1,511,908.00. The disclosure for this sale can be found here. Insiders have sold 554,350 shares of company stock valued at $5,921,819 in the last 90 days. Company insiders own 28.39% of the company’s stock.

Several research analysts recently commented on SWCH shares. Zacks Investment Research lowered Switch from a “buy” rating to a “hold” rating in a research report on Saturday, April 6th. ValuEngine upgraded Switch from a “hold” rating to a “buy” rating in a research report on Monday, May 20th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $13.45.

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Switch Company Profile

Switch, Inc, through its subsidiary, Switch, Ltd., provides colocation space and related services primarily to technology and digital media companies in the United States. It develops and operates data centers in Nevada and Michigan. The company also serves cloud and managed service providers, financial institutions, IT and software providers, government agencies, network and telecommunications providers, and others that conduct critical business on the Internet.

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Want to see what other hedge funds are holding SWCH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Switch Inc (NYSE:SWCH).

Institutional Ownership by Quarter for Switch (NYSE:SWCH)

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