BT Group PLC (BT) Short Interest Down 64.5% in September
BT Group PLC (NYSE:BT) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 184,917 shares, a drop of 64.5% from the September 15th total of 521,510 shares. Based on an average daily volume of 473,404 shares, the days-to-cover ratio is currently 0.4 days.
Institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its position in BT Group PLC by 4.4% in the first quarter. Goldman Sachs Group Inc. now owns 548,923 shares of the company’s stock valued at $17,609,000 after buying an additional 23,383 shares during the period. Douglass Winthrop Advisors LLC acquired a new position in BT Group PLC during the second quarter valued at approximately $214,000. Envestnet Asset Management Inc. raised its position in BT Group PLC by 32.8% in the first quarter. Envestnet Asset Management Inc. now owns 323,668 shares of the company’s stock valued at $10,383,000 after buying an additional 79,870 shares during the period. Capital Fund Management S.A. raised its position in BT Group PLC by 577.8% in the second quarter. Capital Fund Management S.A. now owns 48,800 shares of the company’s stock valued at $1,359,000 after buying an additional 41,600 shares during the period. Finally, Renaissance Technologies LLC raised its position in BT Group PLC by 4.5% in the first quarter. Renaissance Technologies LLC now owns 3,871,801 shares of the company’s stock valued at $124,207,000 after buying an additional 165,101 shares during the period. 1.17% of the stock is currently owned by hedge funds and other institutional investors.
BT Group PLC (NYSE:BT) opened at 23.85 on Wednesday. BT Group PLC has a one year low of $22.49 and a one year high of $37.69. The stock has a 50 day moving average price of $25.01 and a 200 day moving average price of $28.34. The firm has a market cap of $47.38 billion, a PE ratio of 12.82 and a beta of 1.14.
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BT has been the topic of several research reports. Deutsche Bank AG restated a “sell” rating and set a GBX 390 ($4.75) price objective on shares of BT Group PLC in a report on Tuesday, September 13th. Haitong Bank restated a “buy” rating and set a GBX 560 ($6.83) price objective on shares of BT Group PLC in a report on Tuesday, October 4th. Macquarie downgraded BT Group PLC from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $360.00 to $310.00 in a report on Friday, October 7th. TheStreet downgraded BT Group PLC from a “buy” rating to a “hold” rating in a report on Monday, September 19th. Finally, Goldman Sachs Group Inc. restated a “conviction-buy” rating on shares of BT Group PLC in a report on Monday, September 26th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $449.50.
About BT Group PLC
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