Tejon Ranch (NYSE:TRC) saw a large drop in short interest during the month of November. As of November 29th, there was short interest totalling 510,000 shares, a drop of 14.5% from the November 14th total of 596,800 shares. Based on an average daily volume of 78,700 shares, the short-interest ratio is presently 6.5 days. Currently, 2.1% of the company’s shares are short sold.

Separately, ValuEngine raised shares of Tejon Ranch from a “hold” rating to a “buy” rating in a report on Thursday, October 10th.

In other Tejon Ranch news, major shareholder Towerview Llc bought 6,197 shares of Tejon Ranch stock in a transaction that occurred on Monday, November 18th. The shares were bought at an average price of $15.90 per share, with a total value of $98,532.30. Following the acquisition, the insider now owns 3,698,623 shares in the company, valued at $58,808,105.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Dt Four Partners, Llc bought 2,104 shares of Tejon Ranch stock in a transaction that occurred on Thursday, November 14th. The shares were acquired at an average cost of $15.95 per share, for a total transaction of $33,558.80. Following the acquisition, the insider now owns 1,047,501 shares in the company, valued at approximately $16,707,640.95. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 9,678 shares of company stock worth $153,985. 19.79% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Millennium Management LLC bought a new stake in Tejon Ranch in the 3rd quarter worth $398,000. Squarepoint Ops LLC lifted its position in Tejon Ranch by 94.6% during the 3rd quarter. Squarepoint Ops LLC now owns 26,474 shares of the real estate development and agribusiness company’s stock valued at $449,000 after acquiring an additional 12,867 shares during the period. State Street Corp lifted its position in Tejon Ranch by 1.9% during the 3rd quarter. State Street Corp now owns 422,725 shares of the real estate development and agribusiness company’s stock valued at $7,174,000 after acquiring an additional 8,057 shares during the period. Tower Research Capital LLC TRC purchased a new position in Tejon Ranch during the 3rd quarter valued at about $30,000. Finally, Rhumbline Advisers lifted its position in Tejon Ranch by 7.7% during the 3rd quarter. Rhumbline Advisers now owns 40,395 shares of the real estate development and agribusiness company’s stock valued at $686,000 after acquiring an additional 2,892 shares during the period. 70.79% of the stock is currently owned by institutional investors and hedge funds.

Tejon Ranch stock traded up $0.18 during trading hours on Friday, reaching $16.42. The stock had a trading volume of 76,703 shares, compared to its average volume of 72,745. The stock has a market cap of $420.69 million, a PE ratio of 403.75 and a beta of 0.97. Tejon Ranch has a 52 week low of $15.82 and a 52 week high of $19.66. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.63 and a quick ratio of 3.33. The company has a fifty day simple moving average of $16.22 and a 200-day simple moving average of $16.86.

About Tejon Ranch

Tejon Ranch Co operates as a diversified real estate development and agribusiness company. It operates through five segments: Commercial/Industrial Real Estate Development, Resort/Residential Real Estate Development, Mineral Resources, Farming, and Ranch Operations. The Commercial/Industrial Real Estate Development segment engages in the entitling, planning, and permitting of land for development; construction of infrastructure; construction of pre-leased buildings, and buildings to be leased or sold; and sale of land to third parties for their own development.

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