Synchrony Financial (SYF) : Traders are negative on Synchrony Financial (SYF), as it has 1.5% of short positions outstanding compared to its float. The total shorts have reduced by -3,133,934 shares, which is a -20.3% reduction. From Jul 29, 2016, to August 15, 2016, the shorts came down from,15,436,622 to 12,302,688 shares. While the daily trading volume of the stock is 5,976,048, there are 2 days remaining to cover the open short positions. The short interest indicates that the traders dont see a large downside in the stock from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
Synchrony Financial (NYSE:SYF): The stock opened at $27.33 on Wednesday but the bulls could not build on the opening and the stock topped out at $27.49 for the day. The stock traded down to $27.07 during the day, due to lack of any buying support eventually closed down at $27.12 with a loss of -0.59% for the day. The stock had closed at $27.28 on the previous day. The total traded volume was 4,352,044 shares.
In a related news, The Securities and Exchange Commission has divulged that Doubles Brian D, officer (See remarks) of Synchrony Financial, had unloaded 1,000 shares at an average price of $30 in a transaction dated on May 24, 2016. The total value of the transaction was worth $30,000.
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 Companys 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.