Wexford Capital Lp buys $12.9 Million stake in Synchrony Financial (SYF)

Synchrony Financial (SYF) : Wexford Capital Lp scooped up 78,836 additional shares in Synchrony Financial during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 443,270 shares of Synchrony Financial which is valued at $12.9 Million.Synchrony Financial makes up approximately 2.49% of Wexford Capital Lp’s portfolio.

Other Hedge Funds, Including , Employees Retirement System Of Texas boosted its stake in SYF in the latest quarter, The investment management firm added 65,000 additional shares and now holds a total of 551,441 shares of Synchrony Financial which is valued at $16 Million. Synchrony Financial makes up approx 0.22% of Employees Retirement System Of Texas’s portfolio.Utah Retirement Systems boosted its stake in SYF in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 149,700 shares of Synchrony Financial which is valued at $4.3 Million. Synchrony Financial makes up approx 0.12% of Utah Retirement Systems’s portfolio.Janney Montgomery Scott reduced its stake in SYF by selling 1,518 shares or 15.18% in the most recent quarter. The Hedge Fund company now holds 8,482 shares of SYF which is valued at $246,317. Synchrony Financial makes up approx 0.01% of Janney Montgomery Scott’s portfolio.Td Asset Management Inc reduced its stake in SYF by selling 213,056 shares or 3.55% in the most recent quarter. The Hedge Fund company now holds 5,786,209 shares of SYF which is valued at $174 Million. Synchrony Financial makes up approx 0.33% of Td Asset Management Inc’s portfolio.Bluecrest Capital Management Ltd reduced its stake in SYF by selling 513,198 shares or 79.01% in the most recent quarter. The Hedge Fund company now holds 136,374 shares of SYF which is valued at $4.1 Million. Synchrony Financial makes up approx 0.36% of Bluecrest Capital Management Ltd’s portfolio.

Synchrony Financial closed down -0.06 points or -0.20% at $29.88 with 49,05,003 shares getting traded on Friday. Post opening the session at $30.04, the shares hit an intraday low of $29.74 and an intraday high of $30.37 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Synchrony Financial reported $0.70 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 22, 2016. Analyst had a consensus of $0.69.Analysts expectations of $ 2565.24.During the same quarter in the previous year, the company posted $0.66 EPS.

Many Wall Street Analysts have commented on Synchrony Financial. Synchrony Financial was Initiated by Macquarie to “Neutral” on May 11, 2016. Company shares were Reiterated by Deutsche Bank on Apr 25, 2016 to “Buy”, Firm has raised the Price Target to $ 35 from a previous price target of $34 .Synchrony Financial was Downgraded by BofA/Merrill to ” Neutral” on Apr 8, 2016.

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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