Short Interest in Crown Holdings, Inc. (CCK) Expands By 57.7%

Crown Holdings, Inc. (NYSE:CCK) was the recipient of a significant growth in short interest in January. As of January 31st, there was short interest totalling 3,088,804 shares, a growth of 57.7% from the January 12th total of 1,959,094 shares. Approximately 2.4% of the shares of the stock are sold short. Based on an average daily volume of 1,409,406 shares, the days-to-cover ratio is currently 2.2 days.

A number of institutional investors have recently made changes to their positions in CCK. Millennium Management LLC boosted its stake in Crown by 6,760.0% during the fourth quarter. Millennium Management LLC now owns 1,014,450 shares of the industrial products company’s stock valued at $57,063,000 after buying an additional 999,662 shares during the last quarter. LSV Asset Management boosted its stake in Crown by 506.5% during the fourth quarter. LSV Asset Management now owns 1,069,908 shares of the industrial products company’s stock valued at $60,182,000 after buying an additional 893,500 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Crown by 130.9% in the 4th quarter. Renaissance Technologies LLC now owns 999,400 shares of the industrial products company’s stock valued at $56,216,000 after purchasing an additional 566,600 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of Crown by 283.5% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 726,995 shares of the industrial products company’s stock valued at $43,416,000 after purchasing an additional 537,416 shares during the last quarter. Finally, Caxton Associates LP bought a new stake in shares of Crown in the 4th quarter valued at approximately $28,969,000. 88.91% of the stock is owned by institutional investors.

CCK has been the subject of several research analyst reports. Vertical Research upgraded Crown from a “hold” rating to a “buy” rating in a research report on Wednesday, December 20th. TheStreet cut Crown from a “b” rating to a “c” rating in a research report on Thursday, February 8th. ValuEngine cut Crown from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. KeyCorp reiterated a “hold” rating on shares of Crown in a research report on Tuesday, December 19th. Finally, Wells Fargo & Co increased their target price on Crown from $57.00 to $60.00 and gave the stock a “market perform” rating in a research report on Friday, October 20th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $64.27.

Crown (NYSE:CCK) opened at $50.65 on Thursday. Crown has a one year low of $50.16 and a one year high of $62.27. The company has a market capitalization of $6,852.08, a P/E ratio of 21.46, a P/E/G ratio of 1.65 and a beta of 1.42. The company has a debt-to-equity ratio of 4.60, a quick ratio of 0.57 and a current ratio of 1.04.

Crown (NYSE:CCK) last announced its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $0.79 EPS for the quarter, meeting analysts’ consensus estimates of $0.79. Crown had a return on equity of 56.47% and a net margin of 3.71%. The company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the prior year, the company earned $0.71 earnings per share. The firm’s revenue was up 12.7% on a year-over-year basis. equities analysts anticipate that Crown will post 4.41 EPS for the current year.

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About Crown

Crown Holdings, Inc is engaged in the design, manufacture and sale of packaging products for consumer goods. The Company’s business is organized within three divisions: Americas, Europe and Asia Pacific. Within each division, the Company is organized along product lines. The Company’s segments within the Americas Division are Americas Beverage and North America Food.

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