Short Interest in Invesco Ltd. (NYSE:IVZ) Rises By 25.9%

Invesco Ltd. (NYSE:IVZ) was the target of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 30,110,000 shares, a growth of 25.9% from the August 30th total of 23,910,000 shares. Based on an average daily trading volume, of 5,500,000 shares, the short-interest ratio is presently 5.5 days. Approximately 6.5% of the company’s stock are short sold.

Hedge funds have recently added to or reduced their stakes in the company. IHT Wealth Management LLC purchased a new position in shares of Invesco during the second quarter valued at approximately $362,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Invesco by 26.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 123,070 shares of the asset manager’s stock valued at $2,518,000 after acquiring an additional 25,633 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Invesco by 27.1% during the second quarter. CIBC Asset Management Inc now owns 168,172 shares of the asset manager’s stock valued at $3,441,000 after acquiring an additional 35,871 shares in the last quarter. AGF Investments America Inc. increased its position in shares of Invesco by 1.9% during the second quarter. AGF Investments America Inc. now owns 68,673 shares of the asset manager’s stock valued at $1,405,000 after acquiring an additional 1,250 shares in the last quarter. Finally, Aviance Capital Partners LLC increased its position in shares of Invesco by 82.0% during the second quarter. Aviance Capital Partners LLC now owns 80,435 shares of the asset manager’s stock valued at $1,646,000 after acquiring an additional 36,229 shares in the last quarter. Hedge funds and other institutional investors own 67.82% of the company’s stock.

Shares of IVZ stock traded up $0.49 during trading hours on Friday, hitting $15.84. 5,229,348 shares of the company’s stock traded hands, compared to its average volume of 4,754,925. The stock’s fifty day simple moving average is $16.28 and its two-hundred day simple moving average is $19.03. Invesco has a 12-month low of $15.15 and a 12-month high of $22.79. The stock has a market cap of $7.23 billion, a price-to-earnings ratio of 6.52, a PEG ratio of 0.83 and a beta of 1.54. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.71.

Invesco (NYSE:IVZ) last released its earnings results on Thursday, July 25th. The asset manager reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.08. Invesco had a net margin of 11.45% and a return on equity of 10.23%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the business earned $0.66 earnings per share. The business’s revenue was up 5.9% on a year-over-year basis. On average, equities analysts forecast that Invesco will post 2.44 earnings per share for the current fiscal year.

Several brokerages have commented on IVZ. Zacks Investment Research lowered shares of Invesco from a “buy” rating to a “hold” rating and set a $19.00 price objective for the company. in a report on Monday, September 23rd. Wells Fargo & Co restated a “market perform” rating and issued a $17.00 price objective (down from $23.00) on shares of Invesco in a report on Thursday. Citigroup set a $20.00 price objective on shares of Invesco and gave the stock a “hold” rating in a report on Wednesday, July 31st. ValuEngine upgraded shares of Invesco from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, BMO Capital Markets began coverage on shares of Invesco in a report on Monday, October 7th. They issued a “market perform” rating and a $18.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $20.42.

Invesco Company Profile

Invesco Ltd. is a publicly owned investment manager. The firm provides its services to retail clients, institutional clients, high-net worth clients, public entities, corporations, unions, non-profit organizations, endowments, foundations, pension funds, financial institutions, and sovereign wealth funds.

Featured Story: Capital gains and your 401(k) or IRA

Receive News & Ratings for Invesco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invesco and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


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