FirstService Corporation (NASDAQ:FSV) Short Interest Down 28.5% in July

Key Points

• Short interest in FirstService Corporation declined by 28.5%, dropping from 296,600 shares to 212,100 shares as of July 31st, with only 0.5% of the company's shares currently short sold.
• Institutional investors hold 69.35% of FirstService's stock, with several hedge funds increasing their positions significantly during the 2nd quarter.
• FirstService reported earnings of $1.71 per share in its latest quarter, exceeding analyst expectations, with a quarterly revenue increase of 9.1% year-over-year.

FirstService Corporation (NASDAQ:FSV - Get Free Report) TSE: FSV was the recipient of a large decrease in short interest in July. As of July 31st, there was short interest totaling 212,100 shares, adecreaseof28.5% from the July 15th total of 296,600 shares. Based on an average trading volume of 129,800 shares, the short-interest ratio is currently 1.6 days. Currently,0.5% of the company's shares are short sold. Currently,0.5% of the company's shares are short sold. Based on an average trading volume of 129,800 shares, the short-interest ratio is currently 1.6 days.

FirstService Stock Up 0.2%

NASDAQ FSV traded up $0.46 during trading hours on Monday, hitting $200.25. 59,948 shares of the company were exchanged, compared to its average volume of 138,303. The company has a 50 day moving average of $185.92 and a two-hundred day moving average of $177.02. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.99. FirstService has a 52-week low of $153.13 and a 52-week high of $201.67. The firm has a market cap of $9.12 billion, a price-to-earnings ratio of 64.18 and a beta of 0.95.

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FSV. Wall Street Zen raised FirstService from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Scotiabank increased their target price on FirstService from $210.00 to $220.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 30th. Finally, TD Securities increased their target price on FirstService from $200.00 to $211.00 and gave the stock 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 given a Hold rating to the company's stock. According to data from MarketBeat, FirstService currently has a consensus rating of "Moderate Buy" and a consensus target price of $217.75.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Fiera Capital Corp increased its holdings in shares of FirstService by 3.9% in the 1st quarter. Fiera Capital Corp now owns 268,935 shares of the financial services provider's stock valued at $44,639,000 after acquiring an additional 10,087 shares during the last quarter. TD Asset Management Inc increased its holdings in shares of FirstService by 61.6% in the 1st quarter. TD Asset Management Inc now owns 335,542 shares of the financial services provider's stock valued at $55,637,000 after acquiring an additional 127,846 shares during the last quarter. Summit Creek Advisors LLC increased its holdings in shares of FirstService by 8.4% in the 1st quarter. Summit Creek Advisors LLC now owns 115,245 shares of the financial services provider's stock valued at $19,125,000 after acquiring an additional 8,961 shares during the last quarter. Baskin Financial Services Inc. boosted its position in shares of FirstService by 0.6% in the 1st quarter. Baskin Financial Services Inc. now owns 251,850 shares of the financial services provider's stock valued at $41,757,000 after purchasing an additional 1,588 shares during the period. Finally, Spire Wealth Management boosted its position in shares of 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 purchasing an additional 186 shares during the period. Hedge funds and other institutional investors own 69.35% of the company's stock.

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.