Press coverage about Switch (NYSE:SWCH) has trended negative on Thursday, according to InfoTrie Sentiment Analysis. The research firm identifies positive and negative news coverage by reviewing more than six thousand blog and news sources in real-time. The firm ranks coverage of publicly-traded companies on a scale of negative five to five, with scores nearest to five being the most favorable. Switch earned a media sentiment score of -2.00 on their scale. InfoTrie also assigned news headlines about the company an news buzz score of 0 out of 10, meaning that recent news coverage is extremely unlikely to have an effect on the company’s share price in the near future.
These are some of the media stories that may have effected Switch’s ranking:
- The Big Switch – Richmond magazine (richmondmagazine.com)
- Nintendo Switch is out of stock: Here’s how the cheaper Switch Lite compares – SlashGear (slashgear.com)
- Forget Dark Souls, Duck Souls+ Waddles Onto Switch This Week – Nintendo Life (nintendolife.com)
- Get a free Nintendo Switch with your next phone at Mobile Phones Direct – Techradar (techradar.com)
- Nintendo Switch is sold out (almost) everywhere — here’s where to get one today – Digital Trends (digitaltrends.com)
NYSE SWCH opened at $13.62 on Thursday. Switch has a 1 year low of $10.00 and a 1 year high of $17.83. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 170.27 and a beta of 0.59. The company has a fifty day moving average price of $14.94 and a 200-day moving average price of $15.31.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Thursday, March 12th were paid a $0.029 dividend. The ex-dividend date was Wednesday, March 11th. This represents a $0.12 annualized dividend and a dividend yield of 0.85%. Switch’s payout ratio is 80.00%.
A number of analysts have commented on the stock. Credit Suisse Group boosted their price target on shares of Switch from $19.00 to $21.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. William Blair restated an “outperform” rating on shares of Switch in a research note on Friday, February 28th. Stifel Nicolaus boosted their price target on shares of Switch from $17.50 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. ValuEngine upgraded shares of Switch from a “sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. Finally, Zacks Investment Research lowered shares of Switch from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $18.29.
In related news, major shareholder Lp Borden sold 50,000 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $13.59, for a total value of $679,500.00. Following the transaction, the insider now directly owns 5,549,998 shares of the company’s stock, valued at approximately $75,424,472.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Michael David Borden sold 75,000 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $11.78, for a total transaction of $883,500.00. Following the completion of the transaction, the insider now directly owns 5,374,998 shares in the company, valued at $63,317,476.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 515,576 shares of company stock valued at $7,358,630. Company insiders own 28.39% of the company’s stock.
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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