Summit Creek Advisors LLC Purchases 33,646 Shares of FirstService Co. (NASDAQ:FSV)

Summit Creek Advisors LLC raised its position in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 47.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 104,272 shares of the financial services provider’s stock after acquiring an additional 33,646 shares during the period. FirstService makes up about 2.2% of Summit Creek Advisors LLC’s holdings, making the stock its 22nd largest position. Summit Creek Advisors LLC’s holdings in FirstService were worth $15,888,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. acquired a new stake in FirstService in the 4th quarter valued at $39,000. Spire Wealth Management acquired a new position in shares of FirstService during the fourth quarter valued at about $40,000. Accent Capital Management LLC bought a new stake in shares of FirstService during the fourth quarter worth about $40,000. Blue Trust Inc. raised its holdings in shares of FirstService by 8,066.7% in the 2nd quarter. Blue Trust Inc. now owns 245 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 242 shares during the last quarter. Finally, Gulf International Bank UK Ltd lifted its position in FirstService by 25.9% in the 1st quarter. Gulf International Bank UK Ltd now owns 365 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 75 shares in the last quarter. Institutional investors own 69.35% of the company’s stock.

FirstService Trading Down 0.2 %

Shares of FSV stock opened at $178.87 on Friday. The stock has a market capitalization of $8.04 billion, a price-to-earnings ratio of 88.55 and a beta of 1.05. The company’s fifty day simple moving average is $168.47 and its two-hundred day simple moving average is $160.17. FirstService Co. has a 1 year low of $134.77 and a 1 year high of $181.23. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.84 and a quick ratio of 1.84.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.10. FirstService had a return on equity of 15.60% and a net margin of 1.73%. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the company posted $1.37 EPS. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, analysts anticipate that FirstService Co. will post 4.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FSV. Scotiabank upped their price target on FirstService from $175.00 to $190.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Royal Bank of Canada boosted their target price on FirstService from $187.00 to $192.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. BMO Capital Markets increased their price target on FirstService from $193.00 to $196.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. Finally, TD Securities boosted their target price on shares of FirstService from $174.00 to $178.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, FirstService currently has a consensus rating of “Moderate Buy” and an average target price of $189.33.

FirstService 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.