FirstService Co. (NASDAQ:FSV) Short Interest Up 19.0% in January

FirstService Co. (NASDAQ:FSV) (TSE:FSV) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 165,000 shares, a growth of 19.0% from the December 31st total of 138,600 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average daily volume of 89,700 shares, the days-to-cover ratio is currently 1.8 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FSV. Berry Wealth Group LP increased its stake in FirstService by 5.4% in the 4th quarter. Berry Wealth Group LP now owns 1,786 shares of the financial services provider’s stock valued at $323,000 after buying an additional 91 shares during the last quarter. HighTower Advisors LLC increased its position in shares of FirstService by 3.5% in the third quarter. HighTower Advisors LLC now owns 2,932 shares of the financial services provider’s stock valued at $533,000 after acquiring an additional 98 shares during the last quarter. Raymond James Trust N.A. raised its holdings in FirstService by 3.2% during the third quarter. Raymond James Trust N.A. now owns 3,523 shares of the financial services provider’s stock worth $643,000 after acquiring an additional 110 shares in the last quarter. Public Sector Pension Investment Board boosted its position in FirstService by 3.7% during the second quarter. Public Sector Pension Investment Board now owns 4,048 shares of the financial services provider’s stock valued at $616,000 after purchasing an additional 143 shares during the last quarter. Finally, Versant Capital Management Inc bought a new position in FirstService in the fourth quarter valued at approximately $29,000. 69.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FSV has been the topic of a number of analyst reports. Scotiabank increased their price target on shares of FirstService from $190.00 to $200.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 15th. StockNews.com upgraded shares of FirstService from a “hold” rating to a “buy” rating in a report on Friday, October 25th. TD Securities boosted their price target on shares of FirstService from $179.00 to $182.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Stifel Nicolaus raised their price objective on FirstService from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Raymond James lifted their target price on FirstService from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $201.67.

FirstService Stock Down 1.3 %

Shares of NASDAQ:FSV traded down $2.31 during midday trading on Friday, reaching $181.87. 127,763 shares of the company were exchanged, compared to its average volume of 108,025. The firm has a market cap of $8.23 billion, a PE ratio of 75.78 and a beta of 1.06. FirstService has a fifty-two week low of $141.26 and a fifty-two week high of $197.84. The stock has a fifty day simple moving average of $185.18 and a two-hundred day simple moving average of $181.66. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 1.13.

FirstService Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 31st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Tuesday, December 31st. FirstService’s dividend payout ratio is 41.67%.

About FirstService

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.