WINTON GROUP Ltd Sells 49,167 Shares of Figure Technology Solutions, Inc. $FIGR

Key Points

• WINTON GROUP Ltd cut its Figure Technology Solutions stake by 78.6% in the second quarter, selling 49,167 shares and retaining 13,421 shares valued at approximately $412,000. Other institutions, including Engineers Gate and Waverly Advisors, initiated or increased positions.
• Company insiders sold 71,650 shares worth approximately $2.27 million over the past 90 days under pre-arranged Rule 10b5-1 plans; insiders retain a 26.6% ownership stake.
• Analyst sentiment remains mixed but leans positive, with a consensus “Moderate Buy” rating and $52.88 average price target. Figure reported quarterly EPS of $0.35, above the $0.24 estimate, on revenue of $218.45 million.

WINTON GROUP Ltd trimmed its position in Figure Technology Solutions, Inc. (NASDAQ:FIGR - Free Report) by 78.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,421 shares of the company's stock after selling 49,167 shares during the period. WINTON GROUP Ltd's holdings in Figure Technology Solutions were worth $412,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Engineers Gate Manager LP acquired a new stake in Figure Technology Solutions in the 2nd quarter valued at approximately $3,398,000. Integrated Wealth Concepts LLC bought a new position in shares of Figure Technology Solutions during the 2nd quarter worth approximately $47,000. Arizona State Retirement System acquired a new stake in shares of Figure Technology Solutions in the second quarter valued at approximately $278,000. Waverly Advisors LLC lifted its position in shares of Figure Technology Solutions by 78.1% in the second quarter. Waverly Advisors LLC now owns 53,089 shares of the company's stock worth $1,630,000 after purchasing an additional 23,277 shares in the last quarter. Finally, Corient Private Wealth LP boosted its holdings in Figure Technology Solutions by 22.1% during the second quarter. Corient Private Wealth LP now owns 80,728 shares of the company's stock worth $2,479,000 after purchasing an additional 14,607 shares during the last quarter.

Insider Buying and Selling

In related news, insider David Stevens sold 47,650 shares of the company's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $31.38, for a total value of $1,495,257.00. Following the transaction, the insider owned 376,599 shares in the company, valued at approximately $11,817,676.62. This represents a 11.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Minchung Kgil sold 8,000 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $38.69, for a total value of $309,520.00. Following the transaction, the chief financial officer owned 483,651 shares in the company, valued at approximately $18,712,457.19. This trade represents a 1.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 71,650 shares of company stock valued at $2,268,097. Insiders own 26.60% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Sanford C. Bernstein lifted their price target on shares of Figure Technology Solutions from $67.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, August 6th. Bank of America upgraded shares of Figure Technology Solutions from an "underperform" rating to a "neutral" rating and increased their price objective for the stock from $31.00 to $49.00 in a research note on Wednesday, September 9th. Weiss Ratings cut Figure Technology Solutions from a "hold (c)" rating to a "sell (d+)" rating in a report on Friday, September 11th. Wall Street Zen raised Figure Technology Solutions from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Finally, Keefe, Bruyette & Woods reduced their price target on Figure Technology Solutions from $55.00 to $45.00 and set an "outperform" rating for the company in a research report on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Figure Technology Solutions presently has an average rating of "Moderate Buy" and a consensus target price of $52.88.

Figure Technology Solutions Stock Performance

NASDAQ FIGR opened at $33.29 on Thursday. The firm has a market capitalization of $6.18 billion and a P/E ratio of 35.80. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.22. The firm's fifty day moving average price is $32.46 and its two-hundred day moving average price is $32.89. Figure Technology Solutions, Inc. has a 1 year low of $24.11 and a 1 year high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.11. The company had revenue of $218.45 million during the quarter. Figure Technology Solutions had a net margin of 33.45% and a return on equity of 18.90%. As a group, research analysts anticipate that Figure Technology Solutions, Inc. will post 1.2 EPS for the current year.

Figure Technology Solutions Profile

Figure Technology Solutions, Inc is a financial technology company that develops and operates digital platforms for lending and other financial services. Its technology is designed to streamline the origination, underwriting, servicing and funding of loans through automated processes and data-driven tools.

The company's offerings have included home equity financing, personal loans and related lending products, delivered directly to consumers and through institutional or other financial-services partners.

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