Valvoline (VVV) Short Interest Update
Valvoline (NYSE:VVV) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 3,551,960 shares, an increase of Infinity from the September 15th total of 0 shares. Based on an average daily volume of 4,423,804 shares, the days-to-cover ratio is currently 0.8 days. Currently, 10.3% of the shares of the stock are short sold.
A number of equities analysts recently weighed in on VVV shares. Seaport Global Securities started coverage on shares of Valvoline in a research report on Monday, September 26th. They set a “buy” rating and a $27.00 target price for the company. Gabelli started coverage on shares of Valvoline in a research report on Wednesday, September 21st. They set a “buy” rating and a $29.00 target price for the company. Finally, Monness Crespi & Hardt started coverage on shares of Valvoline in a research report on Tuesday, September 27th. They set a “buy” rating and a $27.00 target price for the company.
Shares of Valvoline (NYSE:VVV) opened at 23.28 on Monday. The stock has a market cap of $4.66 billion and a P/E ratio of 19.34. Valvoline has a 1-year low of $22.60 and a 1-year high of $24.51. The company’s 50-day moving average is $23.28 and its 200-day moving average is $23.28.
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In related news, Director Stephen E. Macadam bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 28th. The stock was purchased at an average price of $22.00 per share, for a total transaction of $110,000.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at $110,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Samuel J. Mitchell bought 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 28th. The shares were bought at an average price of $22.00 per share, with a total value of $550,000.00. Following the transaction, the chief executive officer now owns 25,000 shares of the company’s stock, valued at approximately $550,000. The disclosure for this purchase can be found here.
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