Ingles Markets, Incorporated (NASDAQ:IMKTA) Sees Significant Increase in Short Interest

Ingles Markets, Incorporated (NASDAQ:IMKTA) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 304,000 shares, a growth of 5.6% from the March 15th total of 288,000 shares. Based on an average daily trading volume, of 82,800 shares, the short-interest ratio is presently 3.7 days.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. TheStreet lowered Ingles Markets from a “b” rating to a “c+” rating in a research report on Monday, February 26th. StockNews.com lowered Ingles Markets from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 9th.

Ingles Markets Trading Down 0.1 %

NASDAQ IMKTA opened at $73.27 on Wednesday. Ingles Markets has a 52 week low of $72.72 and a 52 week high of $94.68. The firm has a 50 day moving average of $76.06 and a two-hundred day moving average of $80.24. The stock has a market capitalization of $1.39 billion, a PE ratio of 7.54 and a beta of 0.60. The company has a quick ratio of 1.45, a current ratio of 3.22 and a debt-to-equity ratio of 0.36.

Ingles Markets (NASDAQ:IMKTA) last posted its earnings results on Thursday, February 8th. The company reported $2.28 earnings per share for the quarter. Ingles Markets had a return on equity of 12.92% and a net margin of 3.14%. The firm had revenue of $1.48 billion during the quarter.

Ingles Markets Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Thursday, April 11th will be given a $0.165 dividend. The ex-dividend date is Wednesday, April 10th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.90%. Ingles Markets’s dividend payout ratio (DPR) is presently 6.79%.

Insiders Place Their Bets

In other news, Director Sharp Laura Ingle sold 2,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $76.00, for a total transaction of $152,000.00. Following the completion of the transaction, the director now directly owns 24,700 shares in the company, valued at approximately $1,877,200. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 8,000 shares of company stock worth $607,000. Corporate insiders own 23.10% of the company’s stock.

Institutional Investors Weigh In On Ingles Markets

Several large investors have recently modified their holdings of IMKTA. Ensign Peak Advisors Inc acquired a new stake in shares of Ingles Markets during the third quarter worth about $35,000. Osaic Holdings Inc. lifted its position in Ingles Markets by 53.0% during the 2nd quarter. Osaic Holdings Inc. now owns 439 shares of the company’s stock worth $36,000 after acquiring an additional 152 shares during the period. Penserra Capital Management LLC purchased a new position in shares of Ingles Markets in the 1st quarter valued at approximately $45,000. Quadrant Capital Group LLC increased its holdings in shares of Ingles Markets by 30.1% in the fourth quarter. Quadrant Capital Group LLC now owns 735 shares of the company’s stock valued at $63,000 after purchasing an additional 170 shares during the period. Finally, Quantbot Technologies LP raised its stake in shares of Ingles Markets by 717.0% during the first quarter. Quantbot Technologies LP now owns 817 shares of the company’s stock worth $72,000 after purchasing an additional 717 shares during the last quarter. 62.54% of the stock is owned by institutional investors and hedge funds.

Ingles Markets Company Profile

Ingles Markets, Incorporated, together with its subsidiaries, operates a chain of supermarkets in the southeast United States. It offers food products, including grocery, meat and dairy products, produce, frozen foods, and other perishables; and non-food products, which include fuel centers, pharmacies, health and beauty care products, and general merchandise, as well as private label items.