Multi-Color Co. (NASDAQ:LABL) saw a large decrease in short interest in the month of December. As of December 15th, there was short interest totalling 767,920 shares, a decrease of 30.1% from the November 30th total of 1,097,876 shares. Approximately 5.5% of the company’s stock are short sold. Based on an average daily volume of 64,900 shares, the short-interest ratio is currently 11.8 days.
In other Multi-Color news, CEO Michael Julian Henry bought 1,000 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were bought at an average price of $71.03 per share, for a total transaction of $71,030.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert R. Buck sold 9,530 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $72.06, for a total value of $686,731.80. Following the completion of the transaction, the director now owns 17,441 shares in the company, valued at approximately $1,256,798.46. The disclosure for this sale can be found here. 19.40% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Pictet Asset Management Ltd. boosted its position in Multi-Color by 48.3% during the third quarter. Pictet Asset Management Ltd. now owns 170,151 shares of the business services provider’s stock worth $13,944,000 after purchasing an additional 55,428 shares during the period. Vanguard Group Inc. boosted its position in Multi-Color by 3.7% during the second quarter. Vanguard Group Inc. now owns 715,059 shares of the business services provider’s stock worth $58,348,000 after purchasing an additional 25,470 shares during the period. Stifel Financial Corp boosted its position in Multi-Color by 15.6% during the second quarter. Stifel Financial Corp now owns 145,693 shares of the business services provider’s stock worth $11,915,000 after purchasing an additional 19,686 shares during the period. JPMorgan Chase & Co. boosted its position in Multi-Color by 113.8% during the third quarter. JPMorgan Chase & Co. now owns 29,875 shares of the business services provider’s stock worth $2,447,000 after purchasing an additional 15,903 shares during the period. Finally, First Trust Advisors LP boosted its position in Multi-Color by 144.1% during the third quarter. First Trust Advisors LP now owns 25,604 shares of the business services provider’s stock worth $2,098,000 after purchasing an additional 15,116 shares during the period. Hedge funds and other institutional investors own 63.50% of the company’s stock.
Multi-Color (NASDAQ:LABL) last released its quarterly earnings data on Tuesday, November 7th. The business services provider reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.05). Multi-Color had a return on equity of 15.52% and a net margin of 6.10%. The firm had revenue of $256.03 million during the quarter, compared to analyst estimates of $246.61 million. During the same quarter in the prior year, the company posted $0.99 EPS. The company’s quarterly revenue was up 10.3% on a year-over-year basis. analysts expect that Multi-Color will post 3.83 EPS for the current fiscal year.
A number of equities analysts recently commented on LABL shares. BMO Capital Markets restated a “hold” rating and issued a $88.00 price objective on shares of Multi-Color in a report on Monday, September 25th. Zacks Investment Research upgraded Multi-Color from a “hold” rating to a “strong-buy” rating and set a $96.00 price objective on the stock in a report on Wednesday, October 11th. Robert W. Baird restated a “hold” rating and issued a $85.00 price objective on shares of Multi-Color in a report on Thursday, October 12th. Finally, BidaskClub downgraded Multi-Color from a “sell” rating to a “strong sell” rating in a report on Friday, December 15th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Multi-Color currently has an average rating of “Hold” and an average target price of $82.75.
Multi-Color Corporation (Multi-Color) is engaged in label solutions business, supporting brands, including producers of home and personal care, wine and spirit, food and beverage, healthcare and specialty consumer products. The Company serves international brand owners in North, Central and South America, Europe, Australia, New Zealand, South Africa and China and Southeast Asia with a range of label technologies in Pressure Sensitive, Glue-Applied (Cut and Stack), In-Mold, Shrink Sleeve and Heat Transfer.
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