Streetbeat News

Equity Actions

FTV

Fortive (NYSE:FTV) has seen a 26.47% increase in short interest since its last report, with 2.69 million shares sold short, representing 0.86% of available shares. The short interest is below the peer group average of 3.37%. While high short interest can indicate bearish sentiment, it doesn't necessarily predict a price drop and can sometimes be bullish.

Portfolio Pulse from Benzinga Insights

January 05, 2024 | 2:45 pm

VRTS

Virtus Investment Partners (VRTS), a multi-boutique asset management firm, is transferring its common stock listing from NASDAQ to NYSE. The transfer will take place after market close on January 16, with VRTS shares trading on NYSE from January 17, retaining the same ticker symbol. Virtus, celebrating its 15th anniversary as an independent public company, manages $165.5 billion in assets as of November 30, 2023. The move to NYSE is aimed at providing long-term value for shareholders and joining many leading financial institutions.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 2:03 pm

DAVE

Dave Inc. (NASDAQ:DAVE) has agreed to repurchase a $100M convertible note from FTX Ventures Ltd. for $71M. The transaction is subject to approval by the Bankruptcy Court due to FTX's bankruptcy proceedings, with a hearing set for January 25, 2024. Dave's CEO believes this is a strategic capital allocation that supports their growth plan without needing extra equity capital.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 2:01 pm

INST

Instructure Hldgs (NYSE:INST) received mixed analyst ratings with an average 12-month price target of $30.5, slightly down from the previous $30.67. Jefferies' Brent Thill raised the target to $30 from $25, Citigroup's Steven Enders and Raymond James' Brian Peterson both lowered their targets to $30 from $33 and $34 respectively, while Needham's Ryan MacDonald maintained a target of $32. The company has shown solid revenue growth and strong financial performance but trails behind its IT sector peers in growth rate.

Portfolio Pulse from Benzinga Insights

January 05, 2024 | 2:01 pm

BYD

Boyd Gaming (NYSE:BYD) has received mixed ratings from 8 analysts in the past three months, with an average 12-month price target of $73.00, down from $76.83. Recent actions include downgrades and maintaining of ratings, with price targets ranging from $66.00 to $84.00. Boyd Gaming operates gaming and entertainment properties across several U.S. states and has shown positive revenue growth, strong net margin, and ROE, with effective asset utilization and prudent debt management.

Portfolio Pulse from Benzinga Insights

January 05, 2024 | 2:00 pm

IBM

IBM (NYSE:IBM) has received mixed analyst ratings over the past three months, with 7 analysts offering diverse opinions. The average 12-month price target is $152.43, with a high of $180.00 and a low of $130.00, marking a 3.73% decrease from the previous average target of $158.33. Analysts' actions include maintaining, raising, and lowering ratings and price targets. IBM's financials show a market cap above industry average, a revenue growth of 4.58%, a net margin of 11.55%, an ROE of 7.53%, but a lower-than-average ROA of 1.3% and a high debt-to-equity ratio of 2.54.

Portfolio Pulse from Benzinga Insights

January 05, 2024 | 2:00 pm

BALY

Analysts have mixed views on Ballys (NYSE:BALY), with recent ratings ranging from bullish to bearish. Over the last quarter, there have been 2 bullish, 2 indifferent, and 1 somewhat bearish rating. In the past 30 days, one analyst has maintained an 'Underweight' rating with a $10.00 price target, while three others have lowered their price targets, with an average target now at $11.8, down from the previous $15.4. Ballys's financials show a revenue growth of 9.38% over 3 months but lag behind industry averages in net margin, ROE, and ROA, and have a high debt-to-equity ratio of 5.42.

Portfolio Pulse from Benzinga Insights

January 05, 2024 | 2:00 pm

BOOT

Boot Barn Holdings (NYSE:BOOT) has been evaluated by 4 analysts over the last three months, with 3 bullish and 1 somewhat bullish ratings. The average 12-month price target is now $98.75, down from $118.00, with a high estimate of $108.00 and a low of $92.00. Analysts from UBS, B. Riley Securities, Piper Sandler, and Citigroup have provided recent evaluations, with two lowering their price targets. Boot Barn Holdings operates specialty retail stores and has shown a revenue growth of 6.52% as of September 30, 2023, a net margin of 7.39%, but an ROE below industry averages at 3.32%.

Portfolio Pulse from Benzinga Insights

January 05, 2024 | 2:00 pm

BNZI

DZSI

IMUX

Immunic, Inc. (IMUX) announced a private placement of up to $240M, causing its stock to surge by 54%. DZS Inc. (DZSI) revealed securing $25M in funding and a definitive agreement to sell its Asia business to DASAN Networks Inc. for $48M, leading to a 35% increase in its stock price. Banzai (BNZI) disclosed the execution of an LOI to acquire the lead generation platform IGLeads, resulting in a 44% jump in its stock.

Portfolio Pulse from ryanfaloona@benzinga.com

January 05, 2024 | 1:53 pm

FCST

FreeCast Inc has announced that registered shareholders are reselling up to 9.1 million shares of common stock. The resale involves existing shares and will not provide FreeCast with any additional capital, as the company is not selling any new shares itself.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 1:44 pm