Commercial Vehicle Group, Inc. (NASDAQ:CVGI) Sees Significant Decrease in Short Interest

Commercial Vehicle Group, Inc. (NASDAQ:CVGI) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 720,000 shares, a drop of 6.0% from the October 15th total of 765,600 shares. Approximately 2.4% of the company’s shares are sold short. Based on an average daily trading volume, of 179,100 shares, the days-to-cover ratio is presently 4.0 days.

Commercial Vehicle Group Price Performance

Shares of NASDAQ:CVGI opened at $6.35 on Friday. The firm’s 50 day moving average price is $7.14 and its 200 day moving average price is $8.98. The stock has a market cap of $214.04 million, a price-to-earnings ratio of -31.75, a price-to-earnings-growth ratio of 0.30 and a beta of 2.91. Commercial Vehicle Group has a fifty-two week low of $5.48 and a fifty-two week high of $11.96. The company has a quick ratio of 1.34, a current ratio of 2.06 and a debt-to-equity ratio of 0.93.

Insiders Place Their Bets

In other Commercial Vehicle Group news, CFO Chung Kin Cheung purchased 4,000 shares of Commercial Vehicle Group stock in a transaction dated Friday, September 15th. The shares were acquired at an average price of $7.85 per share, with a total value of $31,400.00. Following the completion of the transaction, the chief financial officer now owns 100,920 shares of the company’s stock, valued at $792,222. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Roger L. Fix sold 9,000 shares of the stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $9.21, for a total transaction of $82,890.00. Following the sale, the director now owns 145,595 shares of the company’s stock, valued at $1,340,929.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Chung Kin Cheung purchased 4,000 shares of Commercial Vehicle Group stock in a transaction dated Friday, September 15th. The shares were acquired at an average cost of $7.85 per share, for a total transaction of $31,400.00. Following the transaction, the chief financial officer now directly owns 100,920 shares of the company’s stock, valued at approximately $792,222. The disclosure for this purchase can be found here. Insiders sold a total of 9,869 shares of company stock valued at $89,998 over the last 90 days. 4.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Commercial Vehicle Group

Several hedge funds have recently added to or reduced their stakes in CVGI. Advisor Group Holdings Inc. purchased a new position in Commercial Vehicle Group in the first quarter valued at approximately $67,000. Bank of New York Mellon Corp grew its position in shares of Commercial Vehicle Group by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 209,508 shares of the company’s stock worth $1,770,000 after acquiring an additional 2,728 shares during the last quarter. Rhumbline Advisers grew its position in shares of Commercial Vehicle Group by 7.6% during the first quarter. Rhumbline Advisers now owns 37,176 shares of the company’s stock worth $314,000 after acquiring an additional 2,616 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Commercial Vehicle Group by 6.1% during the first quarter. Vanguard Group Inc. now owns 1,537,929 shares of the company’s stock worth $12,996,000 after acquiring an additional 88,130 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its position in shares of Commercial Vehicle Group by 0.5% during the first quarter. Gamco Investors INC. ET AL now owns 789,885 shares of the company’s stock worth $6,675,000 after acquiring an additional 3,800 shares during the last quarter. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Barrington Research reissued an “outperform” rating and set a $13.00 price target on shares of Commercial Vehicle Group in a research report on Monday, August 7th. TheStreet cut shares of Commercial Vehicle Group from a “c” rating to a “d+” rating in a report on Thursday, November 2nd. Finally, StockNews.com raised shares of Commercial Vehicle Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 14th.

Commercial Vehicle Group Company Profile

Commercial Vehicle Group, Inc, together with its subsidiaries, designs, manufactures, produces, and sells components and assemblies in North America, Europe, and the Asia-Pacific regions. The company operates in four segments: Vehicle Solutions, Electrical Systems, Aftermarket & Accessories, and Industrial Automation.