Wasatch Advisors, Inc. has recently announced that it has increased stake in Focus Financial Partners Inc. (NASDAQ:FOCS) by 11.10%. After grabbing 7.63 million shares, the institutional investor is now in possession of 0.76 million shares of the Financial Company. The new investment brought the stake of investor firm to 11.58% having worth around $290.98 million. Moreover, Capital Research & Management Co increased its share by 66.0 to have a control over 5.45 million shares. And The Vanguard Group, Inc. raised its holdings to 32465.0 shares by acquiring 4.74 million shares or 7.20% of the stake.
Focus Financial Partners Inc. (FOCS) concluded trading on 01/11/23 at a closing price of $41.99, with 0.46 million shares of worth about $19.27 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 22.81% during that period and on Wednesday the price saw a gain of about 1.57%. Currently the company’s common shares owned by public are about 65.60M shares, out of which, 58.05M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 10 analysts are covering the FOCS stock and their offered price forecasts bring an average price target of $45.70. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $55.00 and could fall to a lowest price of $35.00. The stock’s current price level is 9.11% above of average price target set by the analysts, while a rise to estimated low would result in loss of -19.97% for the stock. However, touching the estimated high of $55.00 would mean a gain of 23.65% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 0 times over the past 12 months. They bought 0 shares in 0 of the transactions. In 0 selling transactions, insiders dumped 0 shares.
American Funds Small Cap World Fu, American Funds Growth Fund of Ame, and JPMorgan Small Cap Equity Fund are the top 3 mutual funds which are holding stakes in Focus Financial Partners Inc. American Funds Small Cap World Fu is currently holding 2.55 million shares of worth totaling $97.27 million. The company recently came buying 0.0 shares which brought its stake up to 3.87% of the company’s outstanding shares. American Funds Growth Fund of Ame sold 2052.0 shares, after which its hold over company’s outstanding shares shrunk to 3.30%, leaving 2.18 million shares with the mutual fund that have a worth of about $83.03 million. JPMorgan Small Cap Equity Fund, after buying 1.75 million shares, have now control over 2.66% of the stake in the company. It holds 0.0 shares of worth $66.83 million.
Focus Financial Partners Inc. (NASDAQ: FOCS) started trading at $41.77, above $0.43 from concluding price of the previous day. However, the stock later moved at a day high price of 42.32, or with a gain of 1.57%. Stock saw a price change of 7.04% in past 5 days and over the past one month there was a price change of 14.26%. Year-to-date (YTD), FOCS shares are showing a performance of 12.66% which decreased to -24.98% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $30.27 but also hit the highest price of $57.83 during that period. The average intraday trading volume for Focus Financial Partners Inc. shares is 290.04K. The stock is currently trading 10.73% above its 20-day simple moving average (SMA20), while that difference is up 12.82% for SMA50 and it goes to 11.65% higher than SMA200.
Wasatch Advisors, Inc. acquired 7.63 million shares of Focus Financial Partners Inc. having value of about $290.98 million. Data submitted at the U.S SEC by Wasatch Advisors, Inc. revealed that the firm now holds 0.76 million shares in the company valued at close to $31989199.71, or have control over 11.10% stake in the company. Holding of mutual funds in the company is about 32.17% while other institutional holders and individual stake holders have control over 55.88% and 17.41% of the stake respectively.
The stock has a current market capitalization of $3.17B and its 3Y-monthly beta is at 1.31. PE ratio of stock for trailing 12 months is 27.75, while it has posted earnings per share of $1.51 in the same period. Its PEG reads 1.77 while making debt-to-equity ratio of 2.29. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FOCS, volatility over the week remained 3.08% while standing at 3.33% over the month.
Analysts are in expectations that Focus Financial Partners Inc. (FOCS) stock would likely to be making an EPS of $1.01 in the current quarter, while forecast for next quarter EPS is $1.02 and it is $4.52 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.98 which is $1.06 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.98 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -68.70% while it is estimated to decrease by -3.05% in next year. EPS is likely to grow at an annualized rate of 15.70% for next 5-years, compared to annual growth of -6.40% made by the stock over the past 5-years.
Analysts at 10 brokerage firms have issued recommendations for the Focus Financial Partners Inc. (FOCS)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.90. Out of those 10 Wall Street analysts, 8 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Morgan Stanley on September 20, 2022 offering an Underweight rating for the stock and assigned a target price of $37 to it. Coverage by Goldman stated Focus Financial Partners Inc. (FOCS) stock as a Buy in their note to investors on June 30, 2020, suggesting a price target of $36 for the stock. On June 23, 2020, Credit Suisse Initiated their recommendations, while on May 21, 2020, BofA/Merrill Upgrade their ratings for the stock with a price target of $29. Stock get a Buy rating from SunTrust on March 12, 2020.