Genworth Financial, Inc. (NYSE:GNW) Sees Significant Increase in Short Interest

Genworth Financial, Inc. (NYSE:GNW) was the target of a large growth in short interest in October. As of October 15th, there was short interest totaling 7,180,000 shares, a growth of 35.5% from the September 30th total of 5,300,000 shares. Approximately 1.8% of the company’s stock are short sold. Based on an average trading volume of 5,010,000 shares, the days-to-cover ratio is currently 1.4 days. Based on an average trading volume of 5,010,000 shares, the days-to-cover ratio is currently 1.4 days. Approximately 1.8% of the company’s stock are short sold.

Genworth Financial Stock Performance

GNW stock traded down $0.01 during midday trading on Monday, reaching $8.44. The stock had a trading volume of 5,517,195 shares, compared to its average volume of 4,161,342. The stock has a market cap of $3.46 billion, a PE ratio of 18.74 and a beta of 1.05. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a fifty day simple moving average of $8.68 and a two-hundred day simple moving average of $7.88. Genworth Financial has a 52-week low of $5.99 and a 52-week high of $9.15.

Insider Transactions at Genworth Financial

In other Genworth Financial news, CEO Rohit Gupta sold 86,406 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $8.68, for a total transaction of $750,004.08. Following the sale, the chief executive officer owned 794,630 shares of the company’s stock, valued at approximately $6,897,388.40. This trade represents a 9.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Genworth Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC raised its stake in shares of Genworth Financial by 1,731.8% during the 3rd quarter. Salomon & Ludwin LLC now owns 3,279 shares of the financial services provider’s stock worth $29,000 after buying an additional 3,100 shares during the period. Headlands Technologies LLC acquired a new position in shares of Genworth Financial during the 2nd quarter worth approximately $44,000. EverSource Wealth Advisors LLC raised its stake in shares of Genworth Financial by 140.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,063 shares of the financial services provider’s stock worth $63,000 after buying an additional 4,708 shares during the period. Blueshift Asset Management LLC acquired a new position in shares of Genworth Financial during the 1st quarter worth approximately $71,000. Finally, Abel Hall LLC acquired a new position in shares of Genworth Financial during the 1st quarter worth approximately $71,000. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Analyst Upgrades and Downgrades

GNW has been the topic of several recent research reports. Keefe, Bruyette & Woods increased their target price on Genworth Financial from $9.50 to $10.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Genworth Financial in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered Genworth Financial from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $10.00.

About Genworth Financial

Genworth Financial, Inc, together with its subsidiaries, provides mortgage and long-term care insurance products in the United States and internationally. It operates in three segments: Enact, Long-Term Care Insurance, and Life and Annuities. The Enact segment offers private mortgage insurance products primarily insuring prime-based, individually underwritten residential mortgage loans; and pool mortgage insurance products.