Tile Shop Holdings Inc (NASDAQ:TTS) Sees Significant Decline in Short Interest

Tile Shop Holdings Inc (NASDAQ:TTS) was the recipient of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 4,770,000 shares, a decrease of 8.1% from the August 30th total of 5,190,000 shares. Approximately 13.3% of the company’s shares are short sold. Based on an average daily volume of 519,200 shares, the short-interest ratio is presently 9.2 days.

In related news, Director Peter J. Jacullo III purchased 40,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average price of $2.56 per share, with a total value of $102,400.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased 180,014 shares of company stock valued at $446,832 in the last ninety days. 27.70% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Swiss National Bank boosted its stake in shares of Tile Shop by 5.7% in the second quarter. Swiss National Bank now owns 73,900 shares of the company’s stock valued at $296,000 after purchasing an additional 4,000 shares during the period. Paloma Partners Management Co boosted its stake in shares of Tile Shop by 32.5% in the second quarter. Paloma Partners Management Co now owns 22,100 shares of the company’s stock valued at $88,000 after purchasing an additional 5,424 shares during the period. Camelot Portfolios LLC purchased a new position in shares of Tile Shop in the second quarter valued at $40,000. Accredited Investors Inc. boosted its stake in shares of Tile Shop by 77.0% in the second quarter. Accredited Investors Inc. now owns 23,634 shares of the company’s stock valued at $95,000 after purchasing an additional 10,279 shares during the period. Finally, NorthRock Partners LLC boosted its stake in shares of Tile Shop by 23.0% in the second quarter. NorthRock Partners LLC now owns 62,055 shares of the company’s stock valued at $248,000 after purchasing an additional 11,600 shares during the period. 64.37% of the stock is owned by institutional investors.

Tile Shop stock opened at $3.05 on Thursday. Tile Shop has a 52-week low of $2.24 and a 52-week high of $7.99. The firm has a fifty day moving average of $2.90 and a 200-day moving average of $3.86. The firm has a market capitalization of $150.71 million, a P/E ratio of 15.25 and a beta of 1.40. The company has a quick ratio of 0.28, a current ratio of 1.70 and a debt-to-equity ratio of 1.45.

TTS has been the subject of several research analyst reports. ValuEngine lowered shares of Tile Shop from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Telsey Advisory Group lowered shares of Tile Shop from a “market perform” rating to an “underperform” rating and dropped their price objective for the stock from $5.00 to $2.50 in a research report on Tuesday, July 23rd. Loop Capital dropped their price objective on shares of Tile Shop from $5.00 to $3.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Finally, Zacks Investment Research raised shares of Tile Shop from a “strong sell” rating to a “hold” rating in a research report on Friday, September 27th. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. The stock has an average rating of “Hold” and an average target price of $5.42.

About Tile Shop

Tile Shop Holdings, Inc operates as a specialty retailer of natural stone and man-made tiles, setting and maintenance materials, and related accessories in the United States. It offers approximately 6,000 products, including marble, travertine, granite, quartz, sandstone, slate, and onyx tiles; and ceramic, porcelain, glass, cement, wood look, and metal tiles primarily under the Rush River and Fired Earth brands.

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