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.

COPYRIGHT VIOLATION WARNING: This piece was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece on another domain, it was illegally stolen and republished in violation of United States & international copyright and trademark laws. The original version of this piece can be read at https://www.thecerbatgem.com/2016/11/23/western-union-co-wu-short-interest-update.html.

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.

5 Day Chart for NYSE:WU

Receive News & Stock Ratings for Western Union Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Union Co. and related stocks with our FREE daily email newsletter.