Western Union Co. (WU) Short Interest Update
Western Union Co. (NYSE:WU) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 57,884,293 shares, a drop of 4.4% from the October 14th total of 60,571,447 shares. Currently, 11.9% of the shares of the stock are sold short. Based on an average daily volume of 3,715,507 shares, the days-to-cover ratio is currently 15.6 days.
WU has been the topic of a number of recent analyst reports. BTIG Research set a $23.00 target price on shares of Western Union and gave the company a “buy” rating in a research note on Monday, October 24th. Jefferies Group reaffirmed a “hold” rating and issued a $19.00 target price on shares of Western Union in a research note on Thursday, November 3rd. Vetr raised shares of Western Union from a “sell” rating to a “hold” rating and set a $19.20 target price on the stock in a research note on Tuesday, August 2nd. Zacks Investment Research raised shares of Western Union from a “sell” rating to a “hold” rating in a research note on Friday, August 5th. Finally, Monness Crespi & Hardt downgraded shares of Western Union from a “buy” rating to a “neutral” rating and set a $22.00 price target on the stock. in a research note on Thursday, September 8th. Eight research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $18.91.
In related news, CFO Rajesh K. Agrawal sold 9,263 shares of the firm’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $21.50, for a total value of $199,154.50. Following the sale, the chief financial officer now directly owns 126,997 shares of the company’s stock, valued at $2,730,435.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Odilon Almeida sold 18,064 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $21.57, for a total transaction of $389,640.48. Following the completion of the sale, the executive vice president now directly owns 72,560 shares in the company, valued at $1,565,119.20. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of WU. Itau Unibanco Holding S.A. purchased a new stake in shares of Western Union during the third quarter valued at about $115,000. D.A. Davidson & CO. raised its stake in Western Union by 6.6% in the third quarter. D.A. Davidson & CO. now owns 18,898 shares of the company’s stock valued at $393,000 after buying an additional 1,170 shares during the last quarter. Piedmont Investment Advisors LLC bought a new stake in Western Union during the third quarter valued at $4,197,000. Crow Point Partners LLC bought a new stake in Western Union during the third quarter valued at $139,000. Finally, Sawtooth Solutions LLC raised its stake in Western Union by 9.4% in the third quarter. Sawtooth Solutions LLC now owns 11,472 shares of the company’s stock valued at $239,000 after buying an additional 981 shares during the last quarter.
Western Union (NYSE:WU) opened at 21.27 on Wednesday. Western Union has a 12 month low of $16.02 and a 12 month high of $21.80. The stock has a market cap of $10.31 billion, a price-to-earnings ratio of 12.88 and a beta of 1.16. The firm’s 50-day moving average price is $20.19 and its 200 day moving average price is $20.08.
About Western Union
The Western Union Company (Western Union) is a provider of money movement and payment services. The Company operates through three segments: Consumer-to-Consumer, Consumer-to-Business and Business Solutions. Western Union’s Consumer-to-Consumer segment is engaged in individual money transfers from one consumer to another.
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