Short Interest in Points International Ltd. (NASDAQ:PCOM) Drops By 36.6%

Points International Ltd. (NASDAQ:PCOM) (TSE:PTS) was the target of a large drop in short interest in the month of June. As of June 30th, there was short interest totalling 40,200 shares, a drop of 36.6% from the June 15th total of 63,400 shares. Currently, 0.4% of the company’s shares are short sold. Based on an average daily trading volume, of 78,500 shares, the days-to-cover ratio is currently 0.5 days.

A number of large investors have recently made changes to their positions in the business. Harspring Capital Management LLC raised its stake in Points International by 72.5% during the first quarter. Harspring Capital Management LLC now owns 620,643 shares of the information services provider’s stock valued at $5,108,000 after buying an additional 260,751 shares during the last quarter. FDx Advisors Inc. purchased a new position in Points International during the first quarter valued at $2,688,000. North Star Investment Management Corp. raised its stake in Points International by 3.0% during the first quarter. North Star Investment Management Corp. now owns 103,925 shares of the information services provider’s stock valued at $855,000 after buying an additional 3,000 shares during the last quarter. Wedge Capital Management L L P NC raised its stake in Points International by 126.3% during the first quarter. Wedge Capital Management L L P NC now owns 64,638 shares of the information services provider’s stock valued at $532,000 after buying an additional 36,081 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Points International by 13.9% during the fourth quarter. Geode Capital Management LLC now owns 42,417 shares of the information services provider’s stock valued at $646,000 after buying an additional 5,189 shares during the last quarter. Institutional investors and hedge funds own 61.99% of the company’s stock.

PCOM has been the subject of several research analyst reports. Zacks Investment Research upgraded Points International from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Wednesday, June 17th. Northland Securities reiterated a “hold” rating and issued a $13.00 price objective on shares of Points International in a report on Thursday, May 14th. Royal Bank of Canada cut Points International from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $22.00 to $18.08 in a report on Tuesday, April 14th. TheStreet cut Points International from a “b-” rating to a “c+” rating in a research note on Monday, April 6th. Finally, ValuEngine upgraded Points International from a “hold” rating to a “buy” rating in a research note on Thursday, July 2nd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $15.27.

Shares of PCOM traded down $0.36 on Tuesday, reaching $8.85. The stock had a trading volume of 34,108 shares, compared to its average volume of 82,209. The company has a 50-day simple moving average of $8.86 and a 200-day simple moving average of $12.00. The firm has a market capitalization of $115.46 million, a price-to-earnings ratio of 10.93 and a beta of 1.55. Points International has a 12-month low of $6.89 and a 12-month high of $19.06. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.75 and a current ratio of 1.75.

Points International (NASDAQ:PCOM) (TSE:PTS) last announced its quarterly earnings data on Wednesday, May 13th. The information services provider reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.02. The business had revenue of $82.67 million during the quarter, compared to analysts’ expectations of $99.00 million. Points International had a return on equity of 28.36% and a net margin of 2.91%. On average, analysts expect that Points International will post -0.74 EPS for the current fiscal year.

Points International Company Profile

Points International Ltd. provides e-commerce and technology services to loyalty program operators in the United States, Europe, and internationally. It operates through three segments: Loyalty Currency Retailing, Platform Partners, and Points Travel. The Loyalty Currency Retailing segment provides products and services designed to help loyalty program members unlock the value of their loyalty currency and accelerate the time to a reward.

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