Citigroup Inc (C) Sees Large Decline in Short Interest
Citigroup Inc (NYSE:C) was the target of a large decrease in short interest in December. As of December 29th, there was short interest totalling 27,646,259 shares, a decrease of 16.8% from the December 15th total of 33,216,191 shares. Based on an average trading volume of 13,155,824 shares, the days-to-cover ratio is currently 2.1 days. Currently, 1.0% of the company’s shares are short sold.
Several brokerages recently commented on C. Jefferies Group restated a “hold” rating and issued a $83.00 price target on shares of Citigroup in a research report on Tuesday. Keefe, Bruyette & Woods lowered shares of Citigroup from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Credit Suisse Group reiterated a “buy” rating and issued a $86.00 price objective on shares of Citigroup in a research note on Thursday, January 4th. Barclays upped their price objective on shares of Citigroup from $76.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Finally, ValuEngine upgraded shares of Citigroup from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $78.02.
Institutional investors and hedge funds have recently made changes to their positions in the company. Catamount Wealth Management acquired a new position in shares of Citigroup during the 2nd quarter worth $100,000. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in shares of Citigroup by 206.0% during the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,530 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 1,030 shares during the last quarter. Balentine LLC increased its stake in shares of Citigroup by 20.2% during the 2nd quarter. Balentine LLC now owns 1,617 shares of the financial services provider’s stock worth $108,000 after purchasing an additional 272 shares during the last quarter. Acrospire Investment Management LLC increased its stake in shares of Citigroup by 21.4% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,700 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 300 shares during the last quarter. Finally, Sawyer & Company Inc acquired a new position in shares of Citigroup during the 4th quarter worth $117,000. Institutional investors own 78.53% of the company’s stock.
Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $1.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.09. Citigroup had a net margin of 18.11% and a return on equity of 7.48%. The company had revenue of $17.26 billion for the quarter, compared to analyst estimates of $17.23 billion. During the same quarter in the prior year, the business posted $1.14 EPS. Citigroup’s quarterly revenue was up 1.4% on a year-over-year basis. research analysts forecast that Citigroup will post 5.25 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: “Citigroup Inc (C) Sees Large Decline in Short Interest” was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of United States and international trademark and copyright legislation. The original version of this story can be accessed at https://www.americanbankingnews.com/2018/01/17/citigroup-inc-c-sees-large-decline-in-short-interest.html.
Citigroup Inc (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.
Receive News & Ratings for Citigroup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citigroup and related companies with MarketBeat.com's FREE daily email newsletter.