J.C. Penney Company, Inc. Holding Company (JCP) Short Interest Up 10.3% in October

J.C. Penney Company, Inc. Holding Company (NYSE:JCP) saw a significant increase in short interest in the month of October. As of October 13th, there was short interest totalling 152,105,688 shares, an increase of 10.3% from the September 29th total of 137,896,674 shares. Based on an average trading volume of 15,313,314 shares, the days-to-cover ratio is currently 9.9 days. Currently, 52.6% of the shares of the stock are sold short.

A number of research analysts recently issued reports on the company. Zacks Investment Research cut J.C. Penney Company, Inc. Holding from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $5.00 price target on shares of J.C. Penney Company, Inc. Holding in a report on Thursday, August 3rd. BidaskClub raised J.C. Penney Company, Inc. Holding from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Deutsche Bank AG lifted their price target on J.C. Penney Company, Inc. Holding from $5.50 to $6.50 and gave the company a “hold” rating in a report on Tuesday, August 8th. Finally, Credit Suisse Group cut J.C. Penney Company, Inc. Holding to a “sell” rating in a report on Thursday, August 10th. Three research analysts have rated the stock with a sell rating, twenty have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $5.06.

J.C. Penney Company, Inc. Holding (NYSE:JCP) last issued its quarterly earnings data on Friday, August 11th. The department store operator reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.03). J.C. Penney Company, Inc. Holding had a positive return on equity of 10.55% and a negative net margin of 0.94%. The company had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter last year, the business earned ($0.05) earnings per share. J.C. Penney Company, Inc. Holding’s revenue was up 1.5% compared to the same quarter last year.

In related news, Director Paul J. Brown acquired 25,000 shares of the business’s stock in a transaction on Monday, August 21st. The stock was bought at an average cost of $3.62 per share, with a total value of $90,500.00. Following the completion of the acquisition, the director now owns 68,123 shares in the company, valued at $246,605.26. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Jeffrey A. Davis acquired 50,000 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were bought at an average cost of $3.62 per share, with a total value of $181,000.00. Following the completion of the acquisition, the chief financial officer now owns 72,645 shares of the company’s stock, valued at approximately $262,974.90. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 310,135 shares of company stock valued at $1,111,391. Company insiders own 1.02% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of JCP. Cambridge Investment Research Advisors Inc. raised its position in shares of J.C. Penney Company, Inc. Holding by 33.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,721 shares of the department store operator’s stock worth $103,000 after acquiring an additional 4,205 shares during the last quarter. Tudor Investment Corp ET AL raised its position in shares of J.C. Penney Company, Inc. Holding by 12.8% during the first quarter. Tudor Investment Corp ET AL now owns 22,900 shares of the department store operator’s stock worth $141,000 after acquiring an additional 2,600 shares during the last quarter. Blair William & Co. IL raised its position in shares of J.C. Penney Company, Inc. Holding by 3.1% during the second quarter. Blair William & Co. IL now owns 33,625 shares of the department store operator’s stock worth $156,000 after acquiring an additional 1,000 shares during the last quarter. Quinn Opportunity Partners LLC raised its position in shares of J.C. Penney Company, Inc. Holding by 13.9% during the second quarter. Quinn Opportunity Partners LLC now owns 40,900 shares of the department store operator’s stock worth $190,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Pinebridge Investments L.P. bought a new position in shares of J.C. Penney Company, Inc. Holding during the second quarter worth about $190,000. Institutional investors own 72.14% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This news story was originally published by Community Financial News and is the sole property of of Community Financial News. If you are reading this news story on another domain, it was copied illegally and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this news story can be read at https://www.com-unik.info/2017/11/03/j-c-penney-company-inc-holding-company-jcp-short-interest-up-10-3-in-october.html.

J.C. Penney Company, Inc. Holding Company Profile

J. C. Penney Company, Inc is a holding company. The Company’s business consists of selling merchandise and services to consumers through its department stores and its Website at jcpenney.com. Its department stores and Website generally serve the same type of customers, its Website offers virtually the same mix of merchandise as its store assortment and other categories, and its department stores generally accept returns from sales made in stores and through its Website.

What are top analysts saying about J.C. Penney Company Inc. Holding Company? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for J.C. Penney Company Inc. Holding Company and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit