Fanhua Inc. (NASDAQ:FANH) Sees Significant Decline in Short Interest

Fanhua Inc. (NASDAQ:FANHGet Rating) was the target of a large decrease in short interest in June. As of June 15th, there was short interest totalling 1,200,000 shares, a decrease of 34.8% from the May 31st total of 1,840,000 shares. Based on an average daily trading volume, of 102,500 shares, the short-interest ratio is currently 11.7 days.

NASDAQ:FANH traded down $0.11 on Monday, hitting $5.06. 161 shares of the stock were exchanged, compared to its average volume of 74,698. The stock has a market capitalization of $271.80 million, a price-to-earnings ratio of 24.10 and a beta of 0.51. Fanhua has a 52 week low of $4.35 and a 52 week high of $15.57. The company’s 50-day moving average price is $5.40 and its 200 day moving average price is $6.42.

A number of large investors have recently made changes to their positions in the business. Gabelli Funds LLC raised its holdings in Fanhua by 63.3% during the 1st quarter. Gabelli Funds LLC now owns 24,500 shares of the financial services provider’s stock worth $178,000 after purchasing an additional 9,500 shares during the last quarter. State Street Corp raised its holdings in Fanhua by 5.4% during the 1st quarter. State Street Corp now owns 339,938 shares of the financial services provider’s stock worth $2,475,000 after purchasing an additional 17,562 shares during the last quarter. Invesco Ltd. raised its holdings in Fanhua by 59.1% during the 1st quarter. Invesco Ltd. now owns 40,687 shares of the financial services provider’s stock worth $296,000 after purchasing an additional 15,109 shares during the last quarter. Hsbc Holdings PLC raised its holdings in Fanhua by 2.8% during the 1st quarter. Hsbc Holdings PLC now owns 73,817 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 2,026 shares during the last quarter. Finally, Penserra Capital Management LLC bought a new stake in Fanhua during the 1st quarter worth about $133,000. 25.05% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of Fanhua in a research report on Thursday. They set a “hold” rating on the stock. TheStreet downgraded shares of Fanhua from a “c-” rating to a “d+” rating in a research report on Tuesday, June 14th.

About Fanhua (Get Rating)

Fanhua Inc, together with its subsidiary, distributes insurance products in China. It operates through two segments, Insurance Agency and Claims Adjusting. The Insurance Agency segment provides property and casualty insurance products that primarily include individual accident, travel, homeowner, and indemnity medical insurance products; and life insurance products, such as individual health, individual whole life, individual term life, individual endowment life, and individual annuity, as well as participating insurance products.

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