Cubist Systematic Strategies LLC Acquires 8,520 Shares of FirstService Corporation $FSV

Key Points

• Cubist Systematic Strategies LLC has increased its ownership of FirstService Corporation (NASDAQ: FSV) by 153.3%, acquiring an additional 8,520 shares and bringing its total holdings to 14,078 shares valued at approximately $2.34 million.
• FirstService reported $1.71 EPS for the latest quarter, exceeding analyst expectations of $1.45, with revenue up 9.1% year-over-year at $1.42 billion.
• Analyst opinions are mixed; Scotiabank upgraded its price target to $220.00, while the consensus rating for FirstService is a "Moderate Buy" with an average target price of $217.75.

Cubist Systematic Strategies LLC boosted its holdings in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 153.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,078 shares of the financial services provider's stock after acquiring an additional 8,520 shares during the quarter. Cubist Systematic Strategies LLC's holdings in FirstService were worth $2,337,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. TCTC Holdings LLC raised its stake in shares of FirstService by 155.2% in the first quarter. TCTC Holdings LLC now owns 171 shares of the financial services provider's stock worth $28,000 after purchasing an additional 104 shares during the last quarter. Spire Wealth Management raised its position in FirstService by 52.1% in the 1st quarter. Spire Wealth Management now owns 543 shares of the financial services provider's stock valued at $90,000 after buying an additional 186 shares during the last quarter. SVB Wealth LLC purchased a new stake in FirstService in the 1st quarter valued at $90,000. State of Wyoming bought a new position in FirstService during the 4th quarter valued at $101,000. Finally, Fifth Third Bancorp boosted its holdings in FirstService by 23.0% during the 1st quarter. Fifth Third Bancorp now owns 769 shares of the financial services provider's stock worth $128,000 after acquiring an additional 144 shares during the last quarter. Institutional investors and hedge funds own 69.35% of the company's stock.

FirstService Price Performance

FSV opened at $201.58 on Friday. FirstService Corporation has a fifty-two week low of $153.13 and a fifty-two week high of $203.80. The firm has a 50-day moving average of $190.97 and a 200 day moving average of $178.81. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.76 and a current ratio of 1.76. The firm has a market cap of $9.18 billion, a P/E ratio of 64.61 and a beta of 0.96.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $1.71 EPS for the quarter, topping the consensus estimate of $1.45 by $0.26. FirstService had a net margin of 2.61% and a return on equity of 18.24%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the firm posted $1.36 earnings per share. The company's revenue for the quarter was up 9.1% on a year-over-year basis. On average, research analysts expect that FirstService Corporation will post 5.27 EPS for the current year.

Analyst Ratings Changes

FSV has been the subject of several recent analyst reports. Scotiabank upped their target price on shares of FirstService from $210.00 to $220.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 30th. Wall Street Zen raised shares of FirstService from a "hold" rating to a "buy" rating in a research report on Sunday. Finally, TD Securities increased their price objective on shares of FirstService from $200.00 to $211.00 and gave the company a "hold" rating in a research note on Friday, July 25th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $217.75.

FirstService Company Profile

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.

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