DLD Asset Management LP Takes Position in Switch, Inc. (NYSE:SWCH)

DLD Asset Management LP bought a new stake in shares of Switch, Inc. (NYSE:SWCHGet Rating) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 257,400 shares of the company’s stock, valued at approximately $8,623,000. DLD Asset Management LP owned about 0.11% of Switch as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in SWCH. Brown Brothers Harriman & Co. purchased a new position in Switch in the 1st quarter worth approximately $27,000. WD Rutherford LLC raised its holdings in Switch by 575.0% in the 1st quarter. WD Rutherford LLC now owns 1,350 shares of the company’s stock worth $42,000 after acquiring an additional 1,150 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in Switch in the 1st quarter worth approximately $46,000. PNC Financial Services Group Inc. raised its holdings in Switch by 172.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,941 shares of the company’s stock worth $59,000 after acquiring an additional 1,229 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in Switch by 119.1% in the 1st quarter. Signaturefd LLC now owns 2,312 shares of the company’s stock worth $71,000 after acquiring an additional 1,257 shares during the last quarter. 52.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Switch

In other Switch news, Director Thomas A. Thomas sold 40,000 shares of the business’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $33.99, for a total transaction of $1,359,600.00. Following the completion of the sale, the director now directly owns 2,964,360 shares in the company, valued at approximately $100,758,596.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 14.00% of the company’s stock.

Switch Stock Up 0.1 %

NYSE SWCH traded up $0.04 during mid-day trading on Thursday, reaching $34.19. The stock had a trading volume of 967,599 shares, compared to its average volume of 2,507,919. Switch, Inc. has a 1 year low of $23.03 and a 1 year high of $34.20. The stock has a market cap of $8.38 billion, a PE ratio of 22.49 and a beta of 0.59. The company has a fifty day moving average price of $33.96 and a 200 day moving average price of $33.74. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.37 and a quick ratio of 0.37.

Switch (NYSE:SWCHGet Rating) last announced its earnings results on Wednesday, November 9th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.07). The company had revenue of $174.47 million for the quarter, compared to analysts’ expectations of $169.52 million. Switch had a net margin of 56.70% and a return on equity of 1.06%. On average, research analysts expect that Switch, Inc. will post 1.87 earnings per share for the current year.

Switch Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 21st will be paid a dividend of $0.052 per share. The ex-dividend date is Friday, November 18th. This represents a $0.21 dividend on an annualized basis and a yield of 0.61%. Switch’s dividend payout ratio is presently 13.82%.

Switch Company Profile

(Get Rating)

Switch, Inc, through its subsidiary, Switch, Ltd., provides colocation space and related services. It develops and operates data centers in Nevada, Michigan, and Georgia. The company serves technology and digital media companies, financial institutions, government agencies, and network and telecommunications providers, as well as cloud, IT, and software providers.

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Institutional Ownership by Quarter for Switch (NYSE:SWCH)

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