Short Interest in HP Inc. (NYSE:HPQ) Grows By 14.6%

HP Inc. (NYSE:HPQ) saw a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 16,590,000 shares, an increase of 14.6% from the January 15th total of 14,480,000 shares. Currently, 1.1% of the company’s shares are short sold. Based on an average daily trading volume, of 11,960,000 shares, the days-to-cover ratio is currently 1.4 days.

A number of research firms have recently weighed in on HPQ. Evercore ISI raised HP from an “in-line” rating to an “outperform” rating and set a $24.00 price target on the stock in a research note on Monday, November 11th. Wells Fargo & Co reaffirmed a “hold” rating on shares of HP in a research note on Tuesday, November 26th. Morgan Stanley upped their price objective on HP from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Finally, Zacks Investment Research upgraded HP from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $19.56.

In other news, insider Christoph Schell sold 42,804 shares of HP stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $19.99, for a total transaction of $855,651.96. Following the completion of the sale, the insider now owns 144,684 shares in the company, valued at approximately $2,892,233.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.28% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Ackerman Capital Advisors LLC bought a new position in HP in the fourth quarter valued at approximately $308,000. First American Bank acquired a new position in HP in the 4th quarter worth $2,665,000. Parallel Advisors LLC boosted its stake in HP by 40.5% in the 4th quarter. Parallel Advisors LLC now owns 14,927 shares of the computer maker’s stock worth $307,000 after purchasing an additional 4,304 shares during the period. National Pension Service increased its holdings in HP by 4.8% during the 3rd quarter. National Pension Service now owns 2,102,980 shares of the computer maker’s stock worth $39,788,000 after purchasing an additional 96,185 shares in the last quarter. Finally, Maverick Capital Ltd. increased its holdings in HP by 140.2% during the 3rd quarter. Maverick Capital Ltd. now owns 341,643 shares of the computer maker’s stock worth $6,464,000 after purchasing an additional 199,423 shares in the last quarter. Institutional investors and hedge funds own 84.07% of the company’s stock.

Shares of HPQ stock traded up $0.15 on Friday, hitting $22.37. The stock had a trading volume of 8,979,250 shares, compared to its average volume of 9,435,892. HP has a twelve month low of $15.93 and a twelve month high of $24.09. The company has a fifty day moving average price of $21.40 and a two-hundred day moving average price of $19.56. The firm has a market cap of $31.82 billion, a P/E ratio of 10.86, a PEG ratio of 4.79 and a beta of 1.41.

HP (NYSE:HPQ) last issued its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. HP had a negative return on equity of 241.43% and a net margin of 5.36%. The business had revenue of $15.40 billion for the quarter, compared to the consensus estimate of $15.29 billion. During the same quarter last year, the business posted $0.54 EPS. The firm’s revenue was up .2% compared to the same quarter last year. Research analysts expect that HP will post 2.29 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 11th will be issued a dividend of $0.1762 per share. This represents a $0.70 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Tuesday, March 10th. This is a boost from HP’s previous quarterly dividend of $0.18. HP’s payout ratio is 31.25%.

HP Company Profile

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.

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