HP Inc. (HPQ) Short Interest Update
HP Inc. (NYSE:HPQ) was the target of a large decrease in short interest in the month of October. As of October 13th, there was short interest totalling 28,227,257 shares, a decrease of 10.1% from the September 29th total of 31,405,252 shares. Based on an average trading volume of 9,390,179 shares, the short-interest ratio is currently 3.0 days. Currently, 1.7% of the shares of the company are short sold.
HPQ has been the topic of several analyst reports. Stifel Nicolaus reissued a “hold” rating and set a $14.00 target price on shares of HP in a report on Wednesday, August 16th. Loop Capital increased their target price on HP from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, October 13th. Jefferies Group LLC increased their target price on HP from $18.00 to $18.75 and gave the stock a “hold” rating in a report on Tuesday, July 18th. BMO Capital Markets reissued a “hold” rating and set a $20.00 target price on shares of HP in a report on Thursday, August 24th. Finally, Citigroup Inc. increased their target price on HP from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, October 13th. Nine equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $21.57.
In other HP news, insider Marie Myers sold 10,025 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $19.50, for a total value of $195,487.50. Following the transaction, the insider now directly owns 10,025 shares of the company’s stock, valued at approximately $195,487.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Tracy S. Keogh sold 265,600 shares of the company’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $19.90, for a total value of $5,285,440.00. Following the completion of the transaction, the insider now directly owns 165,952 shares in the company, valued at $3,302,444.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,206,355 shares of company stock worth $24,141,327. 0.62% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in HPQ. Bronfman E.L. Rothschild L.P. raised its holdings in HP by 19.7% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 6,167 shares of the computer maker’s stock worth $108,000 after purchasing an additional 1,013 shares during the period. American Beacon Advisors Inc. bought a new position in HP in the 1st quarter worth $112,000. YorkBridge Wealth Partners LLC raised its holdings in HP by 3.2% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 6,457 shares of the computer maker’s stock worth $113,000 after purchasing an additional 200 shares during the period. First Command Bank raised its holdings in HP by 80.0% in the 2nd quarter. First Command Bank now owns 6,714 shares of the computer maker’s stock worth $118,000 after purchasing an additional 2,984 shares during the period. Finally, Evercore Wealth Management LLC raised its holdings in HP by 14.0% in the 2nd quarter. Evercore Wealth Management LLC now owns 6,793 shares of the computer maker’s stock worth $119,000 after purchasing an additional 836 shares during the period. 78.98% of the stock is currently owned by institutional investors.
Shares of HP (HPQ) opened at 21.50 on Monday. HP has a 52 week low of $13.94 and a 52 week high of $22.31. The company has a market capitalization of $35.91 billion, a price-to-earnings ratio of 15.62 and a beta of 1.94. The firm has a 50 day moving average price of $20.47 and a 200 day moving average price of $19.10.
HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.01. The firm had revenue of $13.06 billion for the quarter, compared to analysts’ expectations of $12.31 billion. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.48 EPS. Equities analysts forecast that HP will post $1.65 EPS for the current year.
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HP Company Profile
HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
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