Royce & Associates LP Grows Stake in Figure Technology Solutions, Inc. $FIGR

Key Points

• Royce & Associates LP increased its stake in Figure Technology Solutions by 203.2% in the fourth quarter, bringing its holdings to 95,532 shares worth about $3.9 million.
• The company reported solid quarterly results, posting EPS of $0.18 versus a $0.17 estimate on revenue of $166.84 million.
• Figure Technology Solutions also authorized a $200 million share buyback, while analysts currently rate the stock Moderate Buy with a consensus price target of $53.63.

Royce & Associates LP boosted its position in shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR - Free Report) by 203.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 95,532 shares of the company's stock after purchasing an additional 64,023 shares during the quarter. Royce & Associates LP owned about 0.05% of Figure Technology Solutions worth $3,902,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Endeavour Capital Advisors Inc. increased its holdings in Figure Technology Solutions by 9.5% during the 4th quarter. Endeavour Capital Advisors Inc. now owns 322,851 shares of the company's stock worth $13,185,000 after purchasing an additional 28,140 shares during the period. William Blair Investment Management LLC purchased a new position in Figure Technology Solutions during the 4th quarter worth $4,339,000. Prospera Financial Services Inc purchased a new position in Figure Technology Solutions during the 4th quarter worth $1,020,000. Global Retirement Partners LLC purchased a new position in Figure Technology Solutions during the 4th quarter worth $25,000. Finally, Leonteq Securities AG purchased a new position in Figure Technology Solutions during the 4th quarter worth $607,000.

Figure Technology Solutions Stock Up 1.8%

Shares of NASDAQ FIGR opened at $35.35 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $6.46 billion and a PE ratio of 60.95. The stock's fifty day simple moving average is $35.08 and its two-hundred day simple moving average is $40.04. Figure Technology Solutions, Inc. has a 12-month low of $25.01 and a 12-month high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last announced its earnings results on Monday, May 11th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. The company had revenue of $166.84 million for the quarter. As a group, analysts expect that Figure Technology Solutions, Inc. will post 0.94 EPS for the current fiscal year.

Figure Technology Solutions announced that its board has authorized a share buyback program on Thursday, February 26th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Weiss Ratings upgraded Figure Technology Solutions from a "sell (d)" rating to a "sell (d+)" rating in a report on Monday, May 18th. Sanford C. Bernstein reduced their price objective on Figure Technology Solutions from $72.00 to $67.00 and set an "outperform" rating on the stock in a report on Monday, March 30th. Needham & Company LLC restated a "buy" rating and set a $55.00 price objective on shares of Figure Technology Solutions in a report on Wednesday, May 13th. Bank of America dropped their target price on Figure Technology Solutions from $34.00 to $31.00 in a research report on Thursday, April 2nd. Finally, Keefe, Bruyette & Woods raised Figure Technology Solutions from a "moderate buy" rating to a "strong-buy" rating in a research report on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $53.63.

Insider Buying and Selling at Figure Technology Solutions

In other news, Director Michael Scott Cagney sold 35,190 shares of the firm's stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $38.20, for a total value of $1,344,258.00. Following the completion of the sale, the director owned 35,190 shares of the company's stock, valued at $1,344,258. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Todd Stevens sold 47,064 shares of the firm's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $42.35, for a total value of $1,993,160.40. Following the completion of the sale, the insider directly owned 406,051 shares of the company's stock, valued at $17,196,259.85. The trade was a 10.39% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 728,641 shares of company stock worth $25,288,002. 26.60% of the stock is currently owned by company insiders.

Figure Technology Solutions Company Profile

Figure is building the future of capital markets using blockchain-based technology. Figure's proprietary technology powers next-generation lending, trading and investing activities in areas such as consumer credit and digital assets. Our application of the blockchain ledger allows us to better serve our end-customers, improve speed and efficiency, and enhance standardization and liquidity. Using our technology, we continue to develop dynamic, vertically-integrated marketplaces across the approximately $2 trillion consumer credit market and the rapidly growing approximately $4 trillion cryptocurrency and digital asset market.

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