HRG Group, Inc. (HRG) Short Interest Up 43.6% in October
HRG Group, Inc. (NYSE:HRG) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 2,688,307 shares, a growth of 43.6% from the October 13th total of 1,872,011 shares. Currently, 1.6% of the shares of the stock are short sold. Based on an average trading volume of 942,819 shares, the days-to-cover ratio is currently 2.9 days.
Hedge funds have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership grew its holdings in shares of HRG Group by 98.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,165,394 shares of the company’s stock valued at $38,349,000 after buying an additional 1,074,404 shares in the last quarter. Three Peaks Capital Management LLC acquired a new stake in HRG Group during the second quarter valued at $5,257,000. Russell Investments Group Ltd. boosted its position in HRG Group by 1,359.0% during the second quarter. Russell Investments Group Ltd. now owns 336,465 shares of the company’s stock valued at $5,958,000 after purchasing an additional 313,404 shares during the last quarter. Vanguard Group Inc. boosted its position in HRG Group by 13.8% during the second quarter. Vanguard Group Inc. now owns 12,943,044 shares of the company’s stock valued at $229,221,000 after purchasing an additional 1,566,284 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in HRG Group by 186.7% during the second quarter. Goldman Sachs Group Inc. now owns 393,674 shares of the company’s stock valued at $6,972,000 after purchasing an additional 256,348 shares during the last quarter. Institutional investors and hedge funds own 95.08% of the company’s stock.
Separately, BidaskClub cut HRG Group from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th.
HRG Group Company Profile
HRG Group, Inc is a holding company. The Company operates through two segments: Consumer Products and Insurance. The Consumer Products segment consists of the Company’s subsidiary, Spectrum Brands Holdings, Inc (Spectrum Brands). The Insurance segment includes its subsidiary, Front Street Re (Delaware) Ltd.
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