Short Interest in Tile Shop Holdings Inc (NASDAQ:TTS) Expands By 15.5%

Tile Shop Holdings Inc (NASDAQ:TTS) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 5,464,900 shares, a growth of 15.5% from the June 30th total of 4,730,500 shares. Based on an average trading volume of 538,700 shares, the days-to-cover ratio is presently 10.1 days. Currently, 14.2% of the company’s stock are sold short.

Several research analysts recently weighed in on TTS shares. Citigroup downgraded Tile Shop from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $9.00 to $5.50 in a research note on Wednesday, May 1st. Loop Capital dropped their target price on Tile Shop from $5.00 to $3.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Telsey Advisory Group downgraded Tile Shop from a “market perform” rating to an “underperform” rating and dropped their target price for the stock from $5.00 to $2.50 in a research note on Tuesday, July 23rd. BidaskClub downgraded Tile Shop from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Finally, ValuEngine upgraded Tile Shop from a “hold” rating to a “buy” rating in a research note on Monday, July 29th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Tile Shop has a consensus rating of “Hold” and a consensus target price of $5.42.

TTS traded down $0.22 on Thursday, reaching $2.34. 439,734 shares of the stock were exchanged, compared to its average volume of 449,253. The company’s 50-day moving average price is $3.40 and its 200 day moving average price is $4.95. Tile Shop has a fifty-two week low of $2.27 and a fifty-two week high of $8.20. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.70 and a quick ratio of 0.28. The firm has a market capitalization of $122.19 million, a PE ratio of 11.70 and a beta of 1.50.

The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Monday, July 29th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $0.20 dividend on an annualized basis and a yield of 8.55%. Tile Shop’s dividend payout ratio is currently 100.00%.

In related news, Director Peter J. Jacullo III purchased 20,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were acquired at an average cost of $4.19 per share, for a total transaction of $83,800.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders bought a total of 265,000 shares of company stock worth $854,450 over the last quarter. Company insiders own 27.70% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. lifted its position in Tile Shop by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 316,970 shares of the company’s stock worth $1,737,000 after acquiring an additional 2,059 shares during the period. Thrivent Financial for Lutherans lifted its position in Tile Shop by 14.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 27,538 shares of the company’s stock worth $151,000 after acquiring an additional 3,445 shares during the period. Swiss National Bank lifted its position in Tile Shop by 5.7% during the 2nd quarter. Swiss National Bank now owns 73,900 shares of the company’s stock worth $296,000 after acquiring an additional 4,000 shares during the period. Paloma Partners Management Co lifted its position in Tile Shop by 32.5% during the 2nd quarter. Paloma Partners Management Co now owns 22,100 shares of the company’s stock worth $88,000 after acquiring an additional 5,424 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its position in Tile Shop by 1,076.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 8,529 shares of the company’s stock worth $48,000 after acquiring an additional 7,804 shares during the period. 66.10% of the stock is owned by institutional investors.

Tile Shop Company Profile

Tile Shop Holdings, Inc operates as a specialty retailer of natural stone and man-made tiles, setting and maintenance materials, and related accessories in the United States. It offers approximately 6,000 products, including marble, travertine, granite, quartz, sandstone, slate, and onyx tiles; and ceramic, porcelain, glass, cement, wood look, and metal tiles primarily under the Rush River and Fired Earth brands.

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