RS Investment Management Co. LLC lowered its position in shares of FTD Companies Inc. (NASDAQ:FTD) by 48.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 635,565 shares of the company’s stock after selling 592,982 shares during the period. RS Investment Management Co. LLC’s holdings in FTD Companies were worth $15,864,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in FTD Companies during the fourth quarter worth $11,117,000. Virginia Retirement System purchased a new stake in FTD Companies during the first quarter worth $1,110,000. BlackRock Fund Advisors increased its stake in FTD Companies by 0.5% in the first quarter. BlackRock Fund Advisors now owns 1,188,858 shares of the company’s stock worth $31,208,000 after buying an additional 6,403 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in FTD Companies by 173.8% in the first quarter. Goldman Sachs Group Inc. now owns 46,852 shares of the company’s stock worth $1,230,000 after buying an additional 29,739 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in FTD Companies by 6.2% in the first quarter. Geode Capital Management LLC now owns 134,523 shares of the company’s stock worth $3,531,000 after buying an additional 7,881 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.
Shares of FTD Companies Inc. (NASDAQ:FTD) traded up 0.48% during trading on Friday, reaching $20.88. The company’s stock had a trading volume of 187,402 shares. The company has a 50 day moving average of $23.20 and a 200-day moving average of $25.38. The stock’s market cap is $571.51 million. FTD Companies Inc. has a 12-month low of $16.86 and a 12-month high of $30.34.
FTD Companies (NASDAQ:FTD) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by $0.45. FTD Companies had a positive return on equity of 7.74% and a negative net margin of 7.31%. The company earned $338.57 million during the quarter, compared to analysts’ expectations of $351.50 million. During the same quarter in the previous year, the company earned $0.61 EPS. The business’s quarterly revenue was down 7.4% compared to the same quarter last year. Analysts forecast that FTD Companies Inc. will post $2.04 EPS for the current year.
FTD has been the subject of a number of recent research reports. Zacks Investment Research upgraded FTD Companies from a “sell” rating to a “hold” rating in a research report on Wednesday, September 14th. Craig Hallum cut FTD Companies from a “buy” rating to a “hold” rating in a research note on Thursday, July 14th. Monness Crespi & Hardt cut FTD Companies from a “buy” rating to a “neutral” rating in a research note on Friday, August 5th. Finally, B. Riley reaffirmed a “neutral” rating and issued a $24.00 price target on shares of FTD Companies in a research note on Wednesday. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. FTD Companies currently has a consensus rating of “Hold” and a consensus target price of $29.75.
About FTD Companies
FTD Companies, Inc (FTD) is a floral and gifting company. The Company operates through four segments: Consumer, Florist, International and Provide Commerce. Through its Consumer segment, FTD is a direct marketer of floral and gift products for consumers, primarily in the United States and Canada. Through its Florist segment, it is a provider of products and services to its floral network members, which include traditional retail florists and other non-florist retail locations.
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