Cenveo, Inc. (CVO) Sees Significant Growth in Short Interest
Cenveo, Inc. (NASDAQ:CVO) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 1,180,462 shares, an increase of 56.9% from the October 31st total of 752,196 shares. Based on an average daily volume of 768,194 shares, the days-to-cover ratio is currently 1.5 days. Approximately 20.7% of the company’s stock are sold short.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CVO. Northern Trust Corp increased its holdings in shares of Cenveo by 2.3% in the 2nd quarter. Northern Trust Corp now owns 19,139 shares of the business services provider’s stock valued at $117,000 after acquiring an additional 436 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Cenveo by 29.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 43,633 shares of the business services provider’s stock valued at $266,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Algert Global LLC increased its holdings in shares of Cenveo by 3.7% in the 2nd quarter. Algert Global LLC now owns 79,791 shares of the business services provider’s stock valued at $486,000 after acquiring an additional 2,879 shares during the last quarter. Institutional investors and hedge funds own 38.33% of the company’s stock.
Shares of Cenveo (NASDAQ CVO) opened at $1.46 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.44 and a debt-to-equity ratio of -1.70. Cenveo has a 1-year low of $0.76 and a 1-year high of $7.79.
Cenveo Company Profile
Cenveo, Inc is a diversified manufacturing company focused on print-related products. The Company’s portfolio of products includes envelope converting, commercial printing and label manufacturing. The Company operates through three segments: Envelope, Print and Label. The Company’s Envelope segment offers direct mail products used for customer solicitations and transactional envelopes used for billing and remittance by end users, including financial institutions, insurance companies and telecommunications companies.
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