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FIHL

Fidelis Insurance has announced that its Board of Directors has approved a share repurchase program of $50 million. This program allows the company to repurchase its own shares, which can potentially increase the stock's value by reducing the number of shares available in the market and showing confidence in the company's financial health.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 2:17 pm

CPG

Crescent Point Energy has announced its intention to raise its quarterly base dividend by 15% annually, from $0.299 to $0.46.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 2:16 pm

GH

Guardant Health, Inc. (NASDAQ:GH) has announced a registered direct offering of 3,387,446 shares at $26.77 per share to Baillie Gifford, totaling approximately $90.7 million. The proceeds will be used for general corporate purposes, including working capital, operating expenses, and capital expenditures. The offering is pursuant to an automatic shelf registration statement on Form S-3 filed with the SEC. Guardant Health and Baillie Gifford express mutual support and look forward to a long-term partnership.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 2:07 pm

FNGR

Lind Partners has issued a statement regarding false allegations that they have taken naked short positions in FingerMotion, Inc. (NASDAQ:FNGR). They clarified their holdings, stating they own 3,215,296 shares, including shares issuable upon conversion of a convertible note, representing a 6.8% stake. They also hold 1,000 common shares with no other financial instruments related to FingerMotion. Lind Partners warns the public about misinformation spread by anonymous individuals for personal gain. They note FingerMotion's share price increased significantly since their investment.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 2:04 pm

SEIC

SEI (NASDAQ:SEIC) has acquired Altigo, a cloud-based technology platform for alternative investments. The acquisition aims to meet the growing demand for alternative assets, expected to reach $23 trillion by 2027, and streamline the investment process. SEI plans to integrate Altigo's capabilities with its own to provide a comprehensive solution for private fund investing, targeting the distribution of alternative investment products in a SaaS model to its clients by the first half of 2024. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 2:02 pm

WEN

Wendy's (NASDAQ:WEN) received mixed analyst ratings over the past three months, with no bullish, three somewhat bullish, and three indifferent ratings. The average 12-month price target is $22.17, a 13.06% decline from the previous average. Analysts from Stephens & Co., Barclays, Citigroup, Deutsche Bank, Wedbush, and Morgan Stanley have adjusted their ratings and price targets, reflecting changes in market dynamics and company performance. Wendy's is a major burger QSR in the U.S., with significant systemwide sales and a large number of units worldwide. The company's financials show strong net margin and ROE but a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

December 21, 2023 | 2:00 pm

CAKE

Cheesecake Factory (NASDAQ:CAKE) has been rated by 11 analysts in the past three months, with a shift towards a more bearish sentiment. The average 12-month price target is now $31.45, down 7.5% from previous estimates. Analysts from firms like Wedbush, Piper Sandler, Barclays, Stephens & Co., Deutsche Bank, Citigroup, Morgan Stanley, and B of A Securities have adjusted their ratings and price targets, reflecting changes in market conditions and company performance. Cheesecake Factory's financial indicators show a mixed performance with strong revenue growth but challenges in profitability and debt management.

Portfolio Pulse from Benzinga Insights

December 21, 2023 | 2:00 pm

UBER

Uber Technologies (NYSE:UBER) has seen a 9.13% increase in short interest since its last report, with 54.51 million shares sold short, representing 2.75% of its float. It would take about 2.43 days to cover these short positions based on average trading volume. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Uber's short interest is below its peer group average of 10.66%.

Portfolio Pulse from Benzinga Insights

December 21, 2023 | 2:00 pm

MMSI

Merit Medical Systems (NASDAQ:MMSI) has received varied analyst ratings over the past three months, with 3 bullish and 1 somewhat bullish out of 4 total ratings. The average 12-month price target is $93.25, with a high of $100.00 and a low of $81.00, reflecting a 4.78% increase from the previous target of $89.00. Analysts from Canaccord Genuity, Barrington Research, and Needham have updated their ratings and price targets, indicating a positive outlook on the company's performance. Merit Medical Systems specializes in medical equipment for interventional procedures and has shown strong financial indicators such as revenue growth, net margin, ROE, ROA, and a healthy debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

December 21, 2023 | 2:00 pm

PSX

Phillips 66 (NYSE:PSX) has seen a 17.91% increase in short interest since its last report, with 9.21 million shares sold short, representing 2.37% of its float. The average time to cover these short positions is 2.52 days. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Compared to its peers, Phillips 66 has a lower short interest as a percentage of float, with the peer group average at 8.49%.

Portfolio Pulse from Benzinga Insights

December 21, 2023 | 2:00 pm