Mik Capital adds Synchrony Financial (SYF) to its portfolio

Synchrony Financial (SYF) : Mik Capital added new position in Synchrony Financial during the most recent quarter end. The investment management firm now holds 1,553,056 shares of Synchrony Financial which is valued at $42,988,590 , the company said in a statement filed on Aug 15, 2016 with the SEC.Synchrony Financial makes up approximately 8.11% of Mik Capital’s portfolio.

Other Hedge Funds, Including , First Republic Investment Management boosted its stake in SYF in the latest quarter, The investment management firm added 5,638 additional shares and now holds a total of 25,763 shares of Synchrony Financial which is valued at $713,120. Synchrony Financial makes up approx 0.01% of First Republic Investment Management’s portfolio.Global X Management Co reduced its stake in SYF by selling 580 shares or 83.57% in the most recent quarter. The Hedge Fund company now holds 114 shares of SYF which is valued at $3,148.Calvert Investment Management reduced its stake in SYF by selling 4,832 shares or 7.4% in the most recent quarter. The Hedge Fund company now holds 60,437 shares of SYF which is valued at $1,705,532. Synchrony Financial makes up approx 0.09% of Calvert Investment Management’s portfolio. Jfs Wealth Advisors sold out all of its stake in SYF during the most recent quarter. The investment firm sold 98 shares of SYF which is valued $2,758.

Synchrony Financial opened for trading at $27.48 and hit $27.84 on the upside on Wednesday, eventually ending the session at $27.81, with a gain of 0.72% or 0.2 points. The heightened volatility saw the trading volume jump to 2,803,127 shares. Company has a market cap of $23,191 M.

On the company’s financial health, Synchrony Financial reported $0.58 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 22, 2016. Analyst had a consensus of $0.54.Analysts expectations of $ 2622.20.During the same quarter in the previous year, the company posted $0.65 EPS.

Many Wall Street Analysts have commented on Synchrony Financial. Shares were Reiterated by Jefferies on Jun 15, 2016 to “Buy” and Lowered the Price Target to $ 35 from a previous price target of $42 .

Synchrony Financial (Synchrony) is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of retailers local merchants manufacturers buying groups industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card Payment Solutions and CareCredit. The Company offers two types of credit cards: private label credit cards and Dual Cards. It offers its credit products through its wholly owned subsidiary Synchrony Bank (the Bank). Through the Bank it offers a range of deposit products insured by the Federal Deposit Insurance Corporation (FDIC) including certificates of deposit individual retirement accounts (IRAs) money market accounts and savings accounts under its Optimizer+Plus brand.

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