Centric Brands Inc (NASDAQ:CTRC) Short Interest Update

Centric Brands Inc (NASDAQ:CTRC) was the recipient of a significant growth in short interest in July. As of July 31st, there was short interest totalling 793,900 shares, a growth of 20.7% from the June 30th total of 657,600 shares. Approximately 2.5% of the company’s stock are short sold. Based on an average daily volume of 71,100 shares, the short-interest ratio is presently 11.2 days.

Separately, ValuEngine upgraded shares of Centric Brands from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st.

Hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC purchased a new stake in Centric Brands in the 2nd quarter valued at $53,000. Millennium Management LLC purchased a new stake in Centric Brands in the 4th quarter valued at $75,000. Northern Trust Corp purchased a new stake in Centric Brands in the 4th quarter valued at $103,000. Bank of New York Mellon Corp purchased a new stake in Centric Brands in the 2nd quarter valued at $125,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in Centric Brands in the 2nd quarter valued at $141,000. Hedge funds and other institutional investors own 53.32% of the company’s stock.

Shares of NASDAQ:CTRC traded up $0.06 during trading on Thursday, hitting $2.76. 1,876 shares of the company were exchanged, compared to its average volume of 47,500. The stock has a market capitalization of $170.94 million, a PE ratio of -0.45 and a beta of -0.94. The company has a quick ratio of 0.25, a current ratio of 0.77 and a debt-to-equity ratio of 304.20. Centric Brands has a 12-month low of $2.43 and a 12-month high of $6.00. The company has a 50 day moving average of $3.03.

Centric Brands (NASDAQ:CTRC) last issued its quarterly earnings data on Monday, May 20th. The company reported ($1.40) earnings per share for the quarter. Centric Brands had a negative return on equity of 424.90% and a negative net margin of 18.55%. The company had revenue of $528.90 million for the quarter. As a group, analysts forecast that Centric Brands will post -1.18 EPS for the current fiscal year.

About Centric Brands

Centric Brands Inc designs, produces, manages, and builds kid's wear, and women's and men's accessories and apparel, and distributes its products across various retail and digital channels in North America and international markets. The company also licenses approximately 100 brands across its core product categories, including kid's, women's, and men's accessories and apparel.

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