Investors Title (NASDAQ:ITIC) was the target of a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 13,200 shares, an increase of 65.0% from the May 30th total of 8,000 shares. Based on an average trading volume of 3,400 shares, the short-interest ratio is currently 3.9 days. Currently, 1.0% of the shares of the stock are sold short.
NASDAQ ITIC traded down $4.48 during trading hours on Thursday, reaching $157.99. 4,600 shares of the company’s stock were exchanged, compared to its average volume of 3,677. The company has a market cap of $305.45 million, a PE ratio of 12.81 and a beta of 0.54. Investors Title has a one year low of $153.01 and a one year high of $202.85. The business’s fifty day simple moving average is $161.11. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.15 and a current ratio of 1.15.
Investors Title (NASDAQ:ITIC) last released its quarterly earnings results on Friday, May 3rd. The insurance provider reported $3.49 EPS for the quarter. The business had revenue of $39.95 million for the quarter. Investors Title had a return on equity of 13.16% and a net margin of 14.99%.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.40 dividend. The ex-dividend date was Thursday, June 13th. This represents a $1.60 dividend on an annualized basis and a yield of 1.01%.
Separately, BidaskClub lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers lifted its holdings in shares of Investors Title by 40.3% during the fourth quarter. Rhumbline Advisers now owns 1,955 shares of the insurance provider’s stock worth $345,000 after purchasing an additional 562 shares during the period. First Trust Advisors LP lifted its holdings in shares of Investors Title by 18.5% during the fourth quarter. First Trust Advisors LP now owns 2,412 shares of the insurance provider’s stock worth $426,000 after purchasing an additional 377 shares during the period. BlackRock Inc. lifted its holdings in shares of Investors Title by 2.5% during the fourth quarter. BlackRock Inc. now owns 109,408 shares of the insurance provider’s stock worth $19,329,000 after purchasing an additional 2,656 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Investors Title by 1.4% during the fourth quarter. Bank of New York Mellon Corp now owns 7,490 shares of the insurance provider’s stock worth $1,323,000 after purchasing an additional 103 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Investors Title by 14.6% during the fourth quarter. Geode Capital Management LLC now owns 15,063 shares of the insurance provider’s stock worth $2,661,000 after purchasing an additional 1,923 shares during the period. Hedge funds and other institutional investors own 42.13% of the company’s stock.
Investors Title Company Profile
Investors Title Company, through its subsidiaries, provides title insurance for residential, institutional, commercial, and industrial properties. The company underwrites land title insurance for owners and mortgagees as a primary insurer; and assumes the reinsurance of title insurance risks from other title insurance companies.
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