Short Interest in Multi-Color Co. (LABL) Drops By 30.1%

Multi-Color Co. (NASDAQ:LABL) saw a large drop in short interest in December. As of December 15th, there was short interest totalling 767,920 shares, a drop of 30.1% from the November 30th total of 1,097,876 shares. Approximately 5.5% of the company’s stock are short sold. Based on an average trading volume of 64,900 shares, the days-to-cover ratio is currently 11.8 days.

LABL has been the subject of several analyst reports. Zacks Investment Research raised shares of Multi-Color from a “sell” rating to a “hold” rating in a research note on Wednesday. BMO Capital Markets reissued a “hold” rating and issued a $88.00 target price on shares of Multi-Color in a research note on Wednesday, October 25th. Robert W. Baird reissued a “hold” rating and issued a $85.00 target price on shares of Multi-Color in a research note on Thursday, October 12th. Finally, BidaskClub raised shares of Multi-Color from a “strong sell” rating to a “sell” rating in a research note on Friday, December 22nd. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $82.75.

Multi-Color (NASDAQ LABL) opened at $74.05 on Thursday. The company has a current ratio of 1.96, a quick ratio of 1.48 and a debt-to-equity ratio of 1.13. Multi-Color has a 52-week low of $63.05 and a 52-week high of $88.25. The company has a market cap of $1,529.98, a price-to-earnings ratio of 21.84 and a beta of 0.73.

Multi-Color (NASDAQ:LABL) last released its quarterly earnings data on Tuesday, November 7th. The business services provider reported $1.06 EPS for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.05). Multi-Color had a return on equity of 15.52% and a net margin of 6.10%. The company had revenue of $256.03 million for the quarter, compared to the consensus estimate of $246.61 million. During the same period last year, the firm earned $0.99 earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. equities analysts predict that Multi-Color will post 3.83 EPS for the current year.

In other Multi-Color news, CEO Michael Julian Henry purchased 1,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was bought at an average cost of $71.03 per share, with a total value of $71,030.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert R. Buck sold 9,530 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $72.06, for a total transaction of $686,731.80. Following the transaction, the director now directly owns 17,441 shares of the company’s stock, valued at $1,256,798.46. The disclosure for this sale can be found here. 19.40% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in LABL. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Multi-Color by 1.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 716,475 shares of the business services provider’s stock worth $58,715,000 after buying an additional 9,025 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Multi-Color by 3.7% during the second quarter. Vanguard Group Inc. now owns 715,059 shares of the business services provider’s stock worth $58,348,000 after buying an additional 25,470 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Multi-Color by 2.1% during the third quarter. Dimensional Fund Advisors LP now owns 660,588 shares of the business services provider’s stock worth $54,135,000 after buying an additional 13,868 shares in the last quarter. State Street Corp lifted its holdings in shares of Multi-Color by 4.0% during the second quarter. State Street Corp now owns 327,791 shares of the business services provider’s stock worth $26,748,000 after buying an additional 12,528 shares in the last quarter. Finally, Pictet Asset Management Ltd. lifted its holdings in shares of Multi-Color by 48.3% during the third quarter. Pictet Asset Management Ltd. now owns 170,151 shares of the business services provider’s stock worth $13,944,000 after buying an additional 55,428 shares in the last quarter. 63.50% of the stock is owned by hedge funds and other institutional investors.

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About Multi-Color

Multi-Color Corporation (Multi-Color) is engaged in label solutions business, supporting brands, including producers of home and personal care, wine and spirit, food and beverage, healthcare and specialty consumer products. The Company serves international brand owners in North, Central and South America, Europe, Australia, New Zealand, South Africa and China and Southeast Asia with a range of label technologies in Pressure Sensitive, Glue-Applied (Cut and Stack), In-Mold, Shrink Sleeve and Heat Transfer.

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