Centric Brands Inc (NASDAQ:CTRC) Short Interest Update

Centric Brands Inc (NASDAQ:CTRC) saw a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 793,900 shares, an increase of 20.7% from the June 30th total of 657,600 shares. Based on an average trading volume of 71,100 shares, the days-to-cover ratio is currently 11.2 days. Approximately 2.5% of the company’s shares are short sold.

CTRC stock opened at $2.68 on Tuesday. The company has a market capitalization of $162.75 million, a P/E ratio of -0.45 and a beta of -0.94. Centric Brands has a twelve month low of $2.43 and a twelve month high of $6.00. The company has a current ratio of 0.77, a quick ratio of 0.25 and a debt-to-equity ratio of 304.20. The business’s fifty day moving average price is $3.09.

Centric Brands (NASDAQ:CTRC) last released its earnings results on Monday, May 20th. The company reported ($1.40) earnings per share for the quarter. The firm had revenue of $528.90 million for the quarter. Centric Brands had a negative return on equity of 424.90% and a negative net margin of 18.55%. On average, analysts predict that Centric Brands will post -1.18 EPS for the current year.

Separately, ValuEngine upgraded Centric Brands from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st.

Several institutional investors have recently made changes to their positions in the stock. Altfest L J & Co. Inc. grew its stake in shares of Centric Brands by 24.1% during the first quarter. Altfest L J & Co. Inc. now owns 106,106 shares of the company’s stock worth $477,000 after purchasing an additional 20,600 shares during the period. Geode Capital Management LLC acquired a new stake in shares of Centric Brands during the fourth quarter worth $327,000. Dimensional Fund Advisors LP acquired a new stake in shares of Centric Brands during the fourth quarter worth $197,000. Creative Planning acquired a new stake in shares of Centric Brands during the second quarter worth $206,000. Finally, Northern Trust Corp grew its stake in shares of Centric Brands by 46.3% during the second quarter. Northern Trust Corp now owns 43,723 shares of the company’s stock worth $180,000 after purchasing an additional 13,839 shares during the period. 53.32% of the stock is owned by institutional investors and hedge funds.

About Centric Brands

Centric Brands Inc designs, produces, manages, and builds kid's wear, and women's and men's accessories and apparel, and distributes its products across various retail and digital channels in North America and international markets. The company also licenses approximately 100 brands across its core product categories, including kid's, women's, and men's accessories and apparel.

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