Pico Holdings Inc (NASDAQ:PICO) saw a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 202,000 shares, a drop of 20.6% from the June 30th total of 254,400 shares. Based on an average daily trading volume, of 72,900 shares, the short-interest ratio is presently 2.8 days. Approximately 1.0% of the company’s stock are sold short.
A number of hedge funds have recently added to or reduced their stakes in the business. Northern Trust Corp boosted its stake in Pico by 1.3% during the 2nd quarter. Northern Trust Corp now owns 244,840 shares of the financial services provider’s stock valued at $2,845,000 after purchasing an additional 3,131 shares during the last quarter. Geode Capital Management LLC boosted its stake in Pico by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 243,646 shares of the financial services provider’s stock valued at $2,226,000 after purchasing an additional 10,684 shares during the last quarter. KBC Group NV boosted its stake in Pico by 1.4% during the 2nd quarter. KBC Group NV now owns 198,367 shares of the financial services provider’s stock valued at $2,305,000 after purchasing an additional 2,704 shares during the last quarter. Moors & Cabot Inc. boosted its stake in Pico by 100.0% during the 1st quarter. Moors & Cabot Inc. now owns 49,500 shares of the financial services provider’s stock valued at $490,000 after purchasing an additional 24,750 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in Pico during the 2nd quarter valued at about $496,000. Institutional investors and hedge funds own 67.29% of the company’s stock.
Shares of PICO traded down $0.04 during trading hours on Tuesday, hitting $9.58. The stock had a trading volume of 24,900 shares, compared to its average volume of 70,832. The business’s 50 day moving average is $10.71. Pico has a 1-year low of $8.85 and a 1-year high of $12.63.
Separately, TheStreet upgraded Pico from a “d+” rating to a “c” rating in a research note on Monday, June 3rd.
Pico Company Profile
PICO Holdings, Inc, together with its subsidiaries, engages in the water resource and water storage activities in the southwestern United States. It engages in selling its water rights and storage credits in Arizona, Colorado, Nevada, and New Mexico. The Company sells its water rights to real estate developers, power generating facilities, or other commercial and industrial users, as well as to water utilities, municipalities, and other government agencies; and sells its stored water to state agencies, commercial developers, or municipalities for their commercial projects or communities.
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