Park West Asset Management Lowers stake in Service Corporation International (SCI)

Service Corporation International (SCI) : Park West Asset Management reduced its stake in Service Corporation International by 0.13% during the most recent quarter end. The investment management company now holds a total of 957,129 shares of Service Corporation International which is valued at $26,196,621 after selling 1,276 shares in Service Corporation International , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Service Corporation International makes up approximately 2.34% of Park West Asset Management’s portfolio.

Other Hedge Funds, Including , Invictus Rg Pte. Ltd. added SCI to its portfolio by purchasing 732 company shares during the most recent quarter which is valued at $20,035. Service Corporation International makes up approx 0.02% of Invictus Rg Pte. Ltd.’s portfolio.Edgepoint Investment Group reduced its stake in SCI by selling 120,873 shares or 1.38% in the most recent quarter. The Hedge Fund company now holds 8,627,338 shares of SCI which is valued at $236,130,241. Service Corporation International makes up approx 3.88% of Edgepoint Investment Group’s portfolio.First Mercantile Trust Co reduced its stake in SCI by selling 2,330 shares or 15.07% in the most recent quarter. The Hedge Fund company now holds 13,130 shares of SCI which is valued at $359,368. Service Corporation International makes up approx 0.04% of First Mercantile Trust Co’s portfolio.Three Peaks Capital Management boosted its stake in SCI in the latest quarter, The investment management firm added 12,314 additional shares and now holds a total of 302,130 shares of Service Corporation International which is valued at $8,145,425. Service Corporation International makes up approx 1.37% of Three Peaks Capital Management’s portfolio.

Service Corporation International closed down -0.18 points or -0.67% at $26.67 with 713,206 shares getting traded on Wednesday. Post opening the session at $26.77, the shares hit an intraday low of $26.63 and an intraday high of $26.91 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Service Corporation International reported $0.28 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $0.29. The company had revenue of $751.70 million for the quarter, compared to analysts expectations of $767.11 million. The company’s revenue was down -.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.28 EPS.

Investors should note that on Aug 10, 2016, Service Corporation International announced a cash dividend of $0.1300. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Sep 30, 2016.

Many Wall Street Analysts have commented on Service Corporation International. Service Corporation International was Initiated by Wells Fargo to “Market Perform” on Aug 2, 2016.

Service Corporation International is a provider of death care products and services. The Company has a network of funeral service locations and cemeteries operating in the United States and Canada. Its funeral service and cemetery operations consist of funeral service locations cemeteries funeral service/cemetery combination locations crematoria and related businesses. The Company’s segments include Funeral and Cemetery. The Company’s brands include Dignity Memorial Dignity Planning National Cremation Society Advantage Funeraria Del Angel Making Everlasting Memories and Neptune Society/Trident Society. The Company sells cemetery property and funeral and cemetery merchandise and services at the time of need and on a pre-need basis. The Company provides professional services relating to funerals and cremations including the use of funeral facilities and motor vehicles and preparation and embalming services.

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