Independence Holding (NYSE:IHC) Short Interest Update

Independence Holding (NYSE:IHC) saw a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 80,900 shares, a decrease of 8.1% from the August 30th total of 88,000 shares. Approximately 1.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 8,700 shares, the short-interest ratio is currently 9.3 days.

Several large investors have recently bought and sold shares of IHC. Bank of Montreal Can lifted its stake in shares of Independence by 65.0% in the 2nd quarter. Bank of Montreal Can now owns 1,066 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 420 shares during the last quarter. Aperio Group LLC bought a new stake in shares of Independence in the 2nd quarter valued at approximately $80,000. Zebra Capital Management LLC bought a new stake in shares of Independence in the 2nd quarter valued at approximately $211,000. Janney Montgomery Scott LLC bought a new stake in shares of Independence in the 2nd quarter valued at approximately $213,000. Finally, Swiss National Bank lifted its stake in shares of Independence by 6.7% in the 2nd quarter. Swiss National Bank now owns 9,600 shares of the financial services provider’s stock valued at $372,000 after purchasing an additional 600 shares during the last quarter. 18.77% of the stock is owned by institutional investors and hedge funds.

Separately, ValuEngine lowered Independence from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd.

Independence stock traded up $0.07 during midday trading on Thursday, reaching $38.36. 3,800 shares of the stock traded hands, compared to its average volume of 6,784. The stock’s fifty day moving average is $38.13 and its 200-day moving average is $37.54. Independence has a 12 month low of $33.37 and a 12 month high of $41.04. The stock has a market cap of $563.17 million, a P/E ratio of 18.83 and a beta of 0.20.

Independence (NYSE:IHC) last announced its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $0.46 EPS for the quarter. Independence had a return on equity of 6.65% and a net margin of 8.27%. The company had revenue of $95.12 million during the quarter.

Independence Company Profile

Independence Holding Company, through its subsidiaries, engages in life and health insurance business. The company's dental portfolio includes indemnity and PPO plans for employer groups of two or more lives, and for individuals within affinity groups; vision plans that offer a flat reimbursement amount for exams and materials; and short-term medical products for people with temporary needs for health coverage.

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