Castle Brands Inc (NYSE:ROX) was the recipient of a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 6,261,656 shares, a drop of 12.7% from the July 14th total of 7,174,634 shares. Based on an average trading volume of 489,514 shares, the days-to-cover ratio is currently 12.8 days. Currently, 7.2% of the shares of the company are sold short.
Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Castle Brands by 30.1% in the second quarter. Vanguard Group Inc. now owns 3,841,633 shares of the company’s stock valued at $6,608,000 after buying an additional 889,189 shares during the last quarter. Northern Trust Corp raised its position in shares of Castle Brands by 501.7% in the second quarter. Northern Trust Corp now owns 973,335 shares of the company’s stock valued at $1,674,000 after buying an additional 811,570 shares during the last quarter. EAM Investors LLC bought a new position in shares of Castle Brands during the first quarter valued at $633,000. Goldman Sachs Group Inc. raised its position in shares of Castle Brands by 245.9% in the first quarter. Goldman Sachs Group Inc. now owns 390,787 shares of the company’s stock valued at $606,000 after buying an additional 277,822 shares during the last quarter. Finally, TIAA CREF Investment Management LLC bought a new position in shares of Castle Brands during the second quarter valued at $401,000.
Separately, Zacks Investment Research downgraded shares of Castle Brands from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th.
Castle Brands (NYSE:ROX) opened at 1.58 on Friday. Castle Brands has a one year low of $0.65 and a one year high of $2.22. The company has a 50-day moving average of $1.79 and a 200 day moving average of $1.50. The company’s market cap is $259.60 million.
Castle Brands (NYSE:ROX) last announced its quarterly earnings results on Wednesday, August 9th. The company reported ($0.01) EPS for the quarter. The firm had revenue of $20.85 million during the quarter, compared to analyst estimates of $18.18 million. Castle Brands had a net margin of 3.10% and a return on equity of 6.81%. Equities research analysts predict that Castle Brands will post $0.02 EPS for the current year.
About Castle Brands
Castle Brands Inc develops and markets premium and super premium brands in the beverage alcohol categories. The Company is engaged in the sale of premium beverage alcohol. Its beverage alcohol categories include rum, whiskey, liqueurs, vodka and tequila. Its brands include Gosling’s rum, Gosling’s Stormy Ginger Beer, Gosling’s Dark ‘n Stormy ready-to-drink cocktail, Jefferson’s bourbon, Jefferson’s Reserve, Jefferson’s Ocean Aged at Sea, Jefferson’s Wine Finish Collection, Jefferson’s The Manhattan: Barrel Finished Cocktail, Jefferson’s Chef’s Collaboration, Jefferson’s Wood Experiment, Jefferson’s Presidential Select, Jefferson’s Rye whiskey, Pallini liqueurs, Clontarf Irish whiskey, Knappogue Castle Whiskey, Brady’s Irish Cream, Boru vodka, Tierras tequila, Celtic Honey liqueur and Gozio amaretto.
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