Short Interest in Genworth Financial Inc (GNW) Declines By 20.8%
Genworth Financial Inc (NYSE:GNW) was the target of a significant decrease in short interest during the month of October. As of October 13th, there was short interest totalling 10,427,504 shares, a decrease of 20.8% from the September 29th total of 13,174,088 shares. Based on an average trading volume of 5,325,640 shares, the short-interest ratio is currently 2.0 days. Currently, 2.1% of the shares of the company are sold short.
Genworth Financial (NYSE:GNW) opened at 3.40 on Monday. Genworth Financial has a 12 month low of $3.12 and a 12 month high of $4.46. The company has a 50-day moving average of $3.75 and a 200-day moving average of $3.66. The company’s market cap is $1.70 billion.
Genworth Financial (NYSE:GNW) last released its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.08. Genworth Financial had a negative return on equity of 1.63% and a negative net margin of 1.66%. The business had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the previous year, the business posted $0.39 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. Analysts predict that Genworth Financial will post $1.06 EPS for the current year.
A number of hedge funds have recently made changes to their positions in the stock. Crossmark Global Holdings Inc. acquired a new stake in Genworth Financial in the third quarter worth about $325,000. State of New Jersey Common Pension Fund D increased its position in Genworth Financial by 2.3% in the third quarter. State of New Jersey Common Pension Fund D now owns 4,400,000 shares of the financial services provider’s stock worth $16,940,000 after purchasing an additional 100,000 shares during the period. Shell Asset Management Co. acquired a new stake in Genworth Financial in the third quarter worth about $914,000. Fondren Management LP acquired a new stake in Genworth Financial in the second quarter worth about $189,000. Finally, Capital Returns Management LLC acquired a new stake in Genworth Financial in the second quarter worth about $2,793,000. Hedge funds and other institutional investors own 67.63% of the company’s stock.
Several equities analysts have recently commented on the stock. BTIG Research restated a “neutral” rating on shares of Genworth Financial in a research report on Saturday, September 16th. Wells Fargo & Company reiterated a “hold” rating on shares of Genworth Financial in a research report on Monday, October 2nd. Zacks Investment Research lowered shares of Genworth Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. BidaskClub upgraded shares of Genworth Financial from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 9th. Finally, ValuEngine upgraded shares of Genworth Financial from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. Genworth Financial has an average rating of “Hold” and a consensus target price of $4.03.
Genworth Financial Company Profile
Genworth Financial, Inc (Genworth) is a financial security company. The Company provides insurance, wealth management, investment and financial solutions. As of December 31, 2011, the Company had more than 15 million customers, with a presence in more than 25 countries. The Company operates in Insurance, Mortgage Insurance and Corporate and Runoff.
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