Baupost Group LLC Position In Synchrony Finl (SYF) Was Boosted

October 10, 2017 - By Dolores Ford

Seth Klarman increased its stake in Synchrony Finl (SYF) by 65.84% based on its latest 2017Q2 regulatory filing with the SEC. Baupost Group Llc bought 11.63M shares as the company’s stock declined 26.83% while stock markets rallied. The hedge fund run by Seth Klarman held 29.30M shares of the consumer services company at the end of 2017Q2, valued at $873.58M, up from 17.67M at the end of the previous reported quarter. Baupost Group Llc who had been investing in Synchrony Finl for a number of months, seems to be bullish on the $25.01B market cap company. It closed at $31.44 lastly. It is down 10.35% since October 10, 2016 and is downtrending. It has underperformed by 27.05% the S&P500.

Baupost Group Llc, which manages about $29.88 billion and $8.75 billion US Long portfolio, decreased its stake in Credit Accep Corp Mich (NASDAQ:CACC) by 145,700 shares to 98,700 shares, valued at $25.38M in 2017Q2, according to the filing.

More notable recent Synchrony Financial (NYSE:SYF) news were published by: Businesswire.com which released: “Synchrony Financial Drives New Relationship with Mavis Discount Tire to …” on September 13, 2017, also Benzinga.com with their article: “Pair Trade: American Express Vs. Synchrony Financial” published on October 06, 2017, Nasdaq.com published: “Commit To Buy Synchrony Financial At $18, Earn 2.8% Using Options” on September 18, 2017. More interesting news about Synchrony Financial (NYSE:SYF) were released by: Businesswire.com and their article: “Synchrony Financial to Announce Third Quarter 2017 Financial Results on …” published on October 03, 2017 as well as Forbes.com‘s news article titled: “Buffett’s Synchrony Leads Gains In Financials As Fed Grows Hawkish” with publication date: September 28, 2017.

Synchrony Financial (NYSE:SYF) Ratings Coverage

Among 25 analysts covering Synchrony Financial (NYSE:SYF), 18 have Buy rating, 0 Sell and 7 Hold. Therefore 72% are positive. Synchrony Financial had 50 analyst reports since July 20, 2015 according to SRatingsIntel. Oppenheimer maintained Synchrony Financial (NYSE:SYF) on Friday, July 21 with “Hold” rating. The rating was maintained by Jefferies on Wednesday, June 7 with “Buy”. BMO Capital Markets maintained Synchrony Financial (NYSE:SYF) on Friday, July 21 with “Buy” rating. Bank of America downgraded the stock to “Hold” rating in Friday, October 6 report. The rating was upgraded by Sterne Agee CRT on Monday, November 23 to “Buy”. The rating was maintained by Wood on Wednesday, April 12 with “Buy”. DA Davidson initiated the stock with “Buy” rating in Wednesday, January 13 report. The rating was maintained by BMO Capital Markets on Monday, October 19 with “Market Perform”. The firm earned “Buy” rating on Wednesday, August 23 by BMO Capital Markets. As per Monday, July 17, the company rating was maintained by BTIG Research.

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