Black Box Corporation (BBOX) Short Interest Update
Black Box Corporation (NASDAQ:BBOX) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 228,732 shares, a decline of 61.5% from the August 15th total of 594,368 shares. Based on an average trading volume of 249,855 shares, the short-interest ratio is currently 0.9 days. Currently, 1.6% of the shares of the company are short sold.
In other news, Director John S. Heller acquired 10,000 shares of Black Box Corporation stock in a transaction dated Monday, August 14th. The stock was bought at an average price of $4.35 per share, for a total transaction of $43,500.00. Following the completion of the acquisition, the director now directly owns 52,320 shares in the company, valued at approximately $227,592. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.70% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank boosted its holdings in Black Box Corporation by 2.8% in the 1st quarter. Comerica Bank now owns 16,461 shares of the technology company’s stock worth $167,000 after buying an additional 450 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Black Box Corporation by 0.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 98,388 shares of the technology company’s stock worth $881,000 after buying an additional 810 shares during the period. Tudor Investment Corp ET AL boosted its holdings in Black Box Corporation by 11.8% in the 1st quarter. Tudor Investment Corp ET AL now owns 11,337 shares of the technology company’s stock worth $101,000 after buying an additional 1,199 shares during the period. ClariVest Asset Management LLC boosted its holdings in Black Box Corporation by 5.3% in the 1st quarter. ClariVest Asset Management LLC now owns 24,680 shares of the technology company’s stock worth $220,000 after buying an additional 1,241 shares during the period. Finally, Cigna Investments Inc. New boosted its holdings in Black Box Corporation by 10.3% in the 2nd quarter. Cigna Investments Inc. New now owns 20,291 shares of the technology company’s stock worth $176,000 after buying an additional 1,897 shares during the period. 90.98% of the stock is owned by institutional investors.
Separately, Sidoti cut Black Box Corporation from a “buy” rating to a “neutral” rating in a report on Friday, August 11th.
Shares of Black Box Corporation (NASDAQ BBOX) opened at 3.25 on Friday. The company has a 50 day moving average price of $4.59 and a 200 day moving average price of $7.67. The company’s market capitalization is $49.20 million. Black Box Corporation has a 52 week low of $2.85 and a 52 week high of $17.05.
Black Box Corporation (NASDAQ:BBOX) last issued its quarterly earnings results on Thursday, August 10th. The technology company reported ($0.33) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.34). Black Box Corporation had a positive return on equity of 3.05% and a negative net margin of 1.97%. The company had revenue of $191.60 million for the quarter, compared to analysts’ expectations of $207.63 million. During the same quarter in the previous year, the business earned $0.13 EPS. The company’s revenue for the quarter was down 12.3% on a year-over-year basis. On average, equities research analysts expect that Black Box Corporation will post ($0.69) earnings per share for the current year.
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About Black Box Corporation
Black Box Corporation is a technology solutions provider. The Company is engaged in designing, building, managing and securing the information technology (IT) infrastructure. Offerings under the Company’s Products platform include IT infrastructure, specialty networking, multimedia and keyboard/video/mouse (KVM) switching.
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