Commercial Vehicle Group, Inc. (NASDAQ:CVGI) was the target of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 443,455 shares, a decrease of 26.1% from the October 31st total of 599,763 shares. Approximately 1.7% of the company’s shares are short sold. Based on an average daily trading volume, of 303,815 shares, the short-interest ratio is currently 1.5 days.
Several large investors have recently bought and sold shares of CVGI. Renaissance Technologies LLC boosted its position in shares of Commercial Vehicle Group by 50.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,864,305 shares of the company’s stock worth $15,753,000 after purchasing an additional 622,305 shares during the period. Numeric Investors LLC boosted its position in shares of Commercial Vehicle Group by 56.5% during the 2nd quarter. Numeric Investors LLC now owns 1,535,958 shares of the company’s stock worth $12,979,000 after purchasing an additional 554,206 shares during the period. ClariVest Asset Management LLC boosted its position in shares of Commercial Vehicle Group by 758.2% during the 2nd quarter. ClariVest Asset Management LLC now owns 625,054 shares of the company’s stock worth $5,282,000 after purchasing an additional 552,225 shares during the period. Cortina Asset Management LLC purchased a new position in shares of Commercial Vehicle Group during the 3rd quarter worth approximately $3,937,000. Finally, AJO LP purchased a new position in shares of Commercial Vehicle Group during the 2nd quarter worth approximately $3,490,000. 76.44% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on CVGI. ValuEngine raised shares of Commercial Vehicle Group from a “hold” rating to a “buy” rating in a research report on Tuesday, November 7th. Zacks Investment Research raised shares of Commercial Vehicle Group from a “hold” rating to a “buy” rating and set a $8.75 price objective for the company in a research report on Thursday, October 19th.
Commercial Vehicle Group (NASDAQ:CVGI) last posted its quarterly earnings data on Monday, November 6th. The company reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.11. The firm had revenue of $198.30 million during the quarter, compared to analysts’ expectations of $173.90 million. Commercial Vehicle Group had a net margin of 0.82% and a return on equity of 14.58%. The firm’s quarterly revenue was up 29.1% on a year-over-year basis. During the same quarter last year, the company posted $0.07 EPS. analysts expect that Commercial Vehicle Group will post 0.32 earnings per share for the current fiscal year.
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About Commercial Vehicle Group
Commercial Vehicle Group, Inc is a supplier of a range of cab-related products and systems. The Company operates through two segments: the Global Truck and Bus Segment (GTB Segment) and the Global Construction and Agriculture Segment (GCA Segment). The GTB Segment manufactures and sells products, which include Seats, Trim, sleeper boxes, cab structures, structural components and body panels, and mirrors and wiper systems.
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