Lincluden Management Ltd Exits Position in Symantec Corporation (SYMC)

Symantec Corporation (SYMC) : Lincluden Management Ltd has sold out all of its stake in Symantec Corporation during the most recent quarter, according to the disclosure filed by the company on Apr 21, 2016 with the SEC. The investment management company has sold out 127,613 shares of Symantec Corporation which is valued at $2,298,310.

Symantec Corporation opened for trading at $18.04 and hit $18.16 on the upside on Wednesday, eventually ending the session at $18.11, with a gain of 0.39% or 0.07 points. The heightened volatility saw the trading volume jump to 52,24,628 shares. Company has a market cap of $11,812 M.

Other Hedge Funds, Including , Saddle Road Partners boosted its stake in SYMC in the latest quarter, The investment management firm added 67,337 additional shares and now holds a total of 163,437 shares of Symantec Corporation which is valued at $2,943,500. Symantec Corporation makes up approx 0.63% of Saddle Road Partners’s portfolio. River Mercantile Asset Management Llp added SYMC to its portfolio by purchasing 46,740 company shares during the most recent quarter which is valued at $839,918. Symantec Corporation makes up approx 0.55% of River Mercantile Asset Management Llp’s portfolio.Proficio Capital Partners boosted its stake in SYMC in the latest quarter, The investment management firm added 68 additional shares and now holds a total of 89 shares of Symantec Corporation which is valued at $1,599.

On the company’s financial health, Symantec Corporation reported $0.26 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Feb 4, 2016. Analyst had a consensus of $0.24. The company had revenue of $909.00 million for the quarter, compared to analysts expectations of $905.38 million. The company’s revenue was down -6.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.33 EPS.

Many Wall Street Analysts have commented on Symantec Corporation. Symantec Corporation was Upgraded by Piper Jaffray to ” Overweight” on Mar 21, 2016. Symantec Corporation was Initiated by Goldman to “Neutral” on Mar 21, 2016. RBC Capital Mkts Upgraded Symantec Corporation on Mar 11, 2016 to ” Outperform”, Price Target of the shares are set at $23.

Symantec Corporation provides security backup and availability solutions. The Company operates in three segments: Consumer Security Enterprise Security and Information Management. The Company’s products and services offer protection of information in any environment from the mobile device to the enterprise data center to cloud-based systems. Consumers receive automatic downloads of the latest virus definitions application bug fixes and patches for its consumer product. The Company’s enterprise security support program offers annual maintenance support contracts including content upgrades and technical support. The Company’s Consumer Security segment offers Norton-branded services which provide multi-layer security and identity protection on desktop and mobile operating systems to defend against online threats to individuals families and small businesses.

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