Ballantyne Strong Inc (NYSEAMERICAN:BTN) was the recipient of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 13,900 shares, a drop of 20.6% from the September 30th total of 17,500 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 18,600 shares, the short-interest ratio is presently 0.7 days.
In other Ballantyne Strong news, Director Global Investors Fundamental purchased 23,859 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were purchased at an average price of $3.36 per share, for a total transaction of $80,166.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased 125,644 shares of company stock worth $387,899 in the last 90 days.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Capital Management LLC purchased a new position in Ballantyne Strong in the third quarter valued at approximately $302,000. Dalton Greiner Hartman Maher & Co. purchased a new position in Ballantyne Strong in the third quarter valued at approximately $680,000. Finally, Renaissance Technologies LLC raised its holdings in Ballantyne Strong by 4.0% in the second quarter. Renaissance Technologies LLC now owns 588,903 shares of the consumer goods maker’s stock valued at $1,902,000 after buying an additional 22,774 shares during the period.
Ballantyne Strong (NYSEAMERICAN:BTN) last posted its quarterly earnings results on Wednesday, August 14th. The consumer goods maker reported ($0.24) EPS for the quarter. The company had revenue of $14.27 million for the quarter.
Ballantyne Strong Company Profile
Ballantyne Strong, Inc designs, integrates, and installs technology solutions for the cinema, retail, financial, advertising, and government markets worldwide. It operates in three segments: Strong Cinema, Convergent, and Strong Outdoor. The Cinema segment provides audio-visual products and accessories, such as digital projectors, projection screens, servers, library management systems, menu boards, flat panel displays, and sound systems, as well as network monitoring and on-site service for cinema equipment.
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