Shaw Communications Inc (NYSE:SJR) Short Interest Up 20.7% in September

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Shaw Communications Inc (NYSE:SJR) (TSE:SJR.B) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 1,690,000 shares, an increase of 20.7% from the August 30th total of 1,400,000 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average trading volume of 373,200 shares, the days-to-cover ratio is currently 4.5 days.

Shares of Shaw Communications stock traded up $0.17 during trading on Friday, reaching $19.74. The company’s stock had a trading volume of 220,629 shares, compared to its average volume of 367,281. The stock has a 50-day moving average price of $19.63 and a two-hundred day moving average price of $20.03. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 0.65. Shaw Communications has a one year low of $17.50 and a one year high of $21.08. The stock has a market capitalization of $9.72 billion, a P/E ratio of 17.25, a price-to-earnings-growth ratio of 4.02 and a beta of 0.73.

Several institutional investors have recently added to or reduced their stakes in SJR. Pacer Advisors Inc. bought a new position in shares of Shaw Communications in the second quarter valued at about $32,000. Parallel Advisors LLC raised its holdings in shares of Shaw Communications by 75.9% in the second quarter. Parallel Advisors LLC now owns 2,578 shares of the company’s stock valued at $53,000 after buying an additional 1,112 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Shaw Communications by 53.2% in the second quarter. Signaturefd LLC now owns 3,707 shares of the company’s stock valued at $76,000 after buying an additional 1,288 shares during the last quarter. Neuburgh Advisers LLC raised its holdings in shares of Shaw Communications by 15.3% in the second quarter. Neuburgh Advisers LLC now owns 5,296 shares of the company’s stock valued at $104,000 after buying an additional 704 shares during the last quarter. Finally, Riverhead Capital Management LLC raised its holdings in shares of Shaw Communications by 14.8% in the second quarter. Riverhead Capital Management LLC now owns 5,932 shares of the company’s stock valued at $116,000 after buying an additional 763 shares during the last quarter. 55.02% of the stock is owned by institutional investors and hedge funds.

SJR has been the subject of a number of analyst reports. Canaccord Genuity raised Shaw Communications from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. BMO Capital Markets reissued a “hold” rating and set a $28.00 price objective on shares of Shaw Communications in a report on Monday, September 9th. TheStreet cut Shaw Communications from a “b-” rating to a “c+” rating in a report on Tuesday, August 27th. Finally, Desjardins reissued a “buy” rating on shares of Shaw Communications in a report on Friday, June 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $27.00.

Shaw Communications Company Profile

Shaw Communications Inc operates as a connectivity company in North America. The company operates through Wireline and Wireless segments. The Wireline segment provides broadband Internet, Shaw Go WiFi, video, and digital phone services to residential customers; and Internet, data, WiFi, digital phone, and video services to business customers.

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