General Cable Co. (BGC) Short Interest Update
General Cable Co. (NYSE:BGC) saw a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 7,316,478 shares, a growth of 88.9% from the November 30th total of 3,873,124 shares. Approximately 15.1% of the shares of the stock are short sold. Based on an average trading volume of 7,533,970 shares, the short-interest ratio is presently 1.0 days.
General Cable (NYSE:BGC) opened at $29.60 on Tuesday. General Cable has a one year low of $14.95 and a one year high of $30.17. The company has a quick ratio of 1.10, a current ratio of 1.98 and a debt-to-equity ratio of 8.42. The stock has a market cap of $1,494.57, a P/E ratio of -8.31 and a beta of 2.88.
General Cable (NYSE:BGC) last posted its earnings results on Wednesday, November 1st. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.08. General Cable had a negative net margin of 4.71% and a positive return on equity of 43.57%. The company had revenue of $994.00 million during the quarter, compared to analysts’ expectations of $879.80 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. General Cable’s quarterly revenue was up 7.5% compared to the same quarter last year.
Hedge funds have recently bought and sold shares of the stock. Piedmont Investment Advisors LLC bought a new position in General Cable in the 2nd quarter worth approximately $175,000. Quantum Capital Management bought a new position in General Cable in the 2nd quarter worth approximately $182,000. Municipal Employees Retirement System of Michigan raised its position in General Cable by 4.2% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 11,700 shares of the industrial products company’s stock worth $191,000 after purchasing an additional 470 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in General Cable in the 3rd quarter worth approximately $246,000. Finally, Quantbot Technologies LP raised its position in General Cable by 1,377.8% in the 2nd quarter. Quantbot Technologies LP now owns 15,724 shares of the industrial products company’s stock worth $257,000 after purchasing an additional 14,660 shares during the last quarter. Hedge funds and other institutional investors own 99.84% of the company’s stock.
About General Cable
General Cable Corporation is engaged in the development, design, manufacture, marketing and distribution of copper, aluminum and fiber optic wire and cable products for use in the energy, industrial, construction, specialty and communications markets. The Company’s segments include North America, Europe, Latin America, and Africa/Asia Pacific.
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