Short Interest in CTC Media Grows By 71.3% (CTCM)
CTC Media (NASDAQ:CTCM) was the target of a large increase in short interest in May. As of May 30th, there was short interest totalling 2,158,175 shares, an increase of 71.3% from the May 15th total of 1,260,246 shares, Analyst Ratings Network.com reports. Based on an average daily trading volume, of 607,947 shares, the short-interest ratio is currently 3.5 days. Approximately 3.8% of the company’s stock are sold short.
CTCM has been the subject of a number of recent research reports. Analysts at Renaissance Capital cut their price target on shares of CTC Media from $10.70 to $10.40 in a research note on Thursday, May 1st. Analysts at Credit Suisse downgraded shares of CTC Media from a “neutral” rating to an “underperform” rating in a research note on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The company has an average rating of “Hold” and an average target price of $11.50.
CTC Media (NASDAQ:CTCM) opened at 10.52 on Wednesday. CTC Media has a 52 week low of $8.25 and a 52 week high of $13.95. The stock’s 50-day moving average is $9.78 and its 200-day moving average is $10.77. The company has a market cap of $1.639 billion and a P/E ratio of 10.49.
CTC Media (NASDAQ:CTCM) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.20 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.17 by $0.03. The company had revenue of $186.25 million for the quarter, compared to the consensus estimate of $195.29 million. CTC Media’s revenue was down 4.7% compared to the same quarter last year. On average, analysts predict that CTC Media will post $0.89 earnings per share for the current fiscal year.
CTC Media, Inc operates three Russian television networks CTC, Domashny and Peretz. CTC network offers entertainment programming targeted at 6-54 year-old viewers.
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