HP Inc. (HPQ) Sees Large Increase in Short Interest
HP Inc. (NYSE:HPQ) was the target of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 29,526,370 shares, an increase of 24.8% from the October 31st total of 23,667,768 shares. Approximately 1.7% of the company’s stock are sold short. Based on an average daily trading volume, of 14,874,922 shares, the short-interest ratio is presently 2.0 days.
A number of analysts recently issued reports on HPQ shares. Credit Suisse Group AG reissued a “buy” rating and set a $19.00 price objective on shares of HP in a research report on Friday, August 12th. Royal Bank Of Canada lifted their price objective on HP from $12.00 to $14.00 and gave the company a “sector perform” rating in a research report on Monday, August 22nd. RBC Capital Markets reissued a “sector perform” rating and set a $14.00 price objective (up previously from $12.00) on shares of HP in a research report on Monday, August 22nd. Citigroup Inc. lifted their price objective on HP from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, August 25th. Finally, Jefferies Group lifted their price objective on HP from $16.00 to $16.75 and gave the company a “buy” rating in a research report on Thursday, August 25th. Fifteen equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. HP presently has an average rating of “Hold” and a consensus target price of $15.84.
In related news, insider Tracy S. Keogh sold 100,000 shares of HP stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $15.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the insider now owns 213,582 shares of the company’s stock, valued at $3,203,730. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.51% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in HPQ. Itau Unibanco Holding S.A. acquired a new position in shares of HP during the third quarter valued at approximately $106,000. FineMark National Bank & Trust boosted its position in shares of HP by 2.4% in the third quarter. FineMark National Bank & Trust now owns 7,027 shares of the computer maker’s stock valued at $109,000 after buying an additional 168 shares in the last quarter. Virtus Investment Advisers Inc. acquired a new position in shares of HP during the third quarter valued at approximately $120,000. Acrospire Investment Management LLC boosted its position in shares of HP by 9.6% in the third quarter. Acrospire Investment Management LLC now owns 8,000 shares of the computer maker’s stock valued at $124,000 after buying an additional 700 shares in the last quarter. Finally, Cedar Wealth Management LLC boosted its position in shares of HP by 2.7% in the third quarter. Cedar Wealth Management LLC now owns 8,431 shares of the computer maker’s stock valued at $131,000 after buying an additional 220 shares in the last quarter. 76.75% of the stock is currently owned by institutional investors.
HP (NYSE:HPQ) opened at 15.15 on Wednesday. The firm has a market cap of $25.94 billion, a P/E ratio of 10.58 and a beta of 1.53. HP has a 12-month low of $8.91 and a 12-month high of $16.19. The firm’s 50-day moving average price is $14.91 and its 200 day moving average price is $14.11.
HP (NYSE:HPQ) last released its quarterly earnings results on Tuesday, November 22nd. The computer maker reported $0.36 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. The firm had revenue of $12.50 billion for the quarter, compared to analysts’ expectations of $11.89 billion. HP had a net margin of 5.17% and a negative return on equity of 61.38%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.93 EPS. Analysts forecast that HP will post $1.60 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 14th will be issued a $0.1327 dividend. This is a boost from HP’s previous quarterly dividend of $0.12. This represents a $0.53 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend is Monday, December 12th. HP’s dividend payout ratio is currently 35.21%.
TRADEMARK VIOLATION NOTICE: “HP Inc. (HPQ) Sees Large Increase in Short Interest” was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this article on another website, it was stolen and reposted in violation of U.S. and international copyright & trademark laws. The correct version of this article can be accessed at https://www.thecerbatgem.com/2016/11/30/hp-inc-hpq-sees-large-increase-in-short-interest.html.
HP Company Profile
HP Inc, formerly Hewlett-Packard Company, is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses and large enterprises. The Company operates in seven business segments: Personal Systems, Printing, the Enterprise Group, Enterprise Services, Software, HP Financial Services and Corporate Investments.
Receive News & Stock Ratings for HP Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HP Inc. and related stocks with our FREE daily email newsletter.