Multi-Color Co. (LABL) Short Interest Down 36.6% in February

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Multi-Color Co. (NASDAQ:LABL) was the target of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 1,087,952 shares, a drop of 36.6% from the February 15th total of 1,715,469 shares. Based on an average trading volume of 840,306 shares, the days-to-cover ratio is currently 1.3 days. Approximately 7.7% of the shares of the stock are sold short.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Multi-Color by 1.8% in the fourth quarter. BlackRock Inc. now owns 2,054,459 shares of the business services provider’s stock worth $72,091,000 after purchasing an additional 35,786 shares during the last quarter. FMR LLC increased its holdings in shares of Multi-Color by 1.7% in the third quarter. FMR LLC now owns 2,045,320 shares of the business services provider’s stock worth $127,322,000 after purchasing an additional 33,538 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Multi-Color by 7.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,174,145 shares of the business services provider’s stock worth $41,200,000 after acquiring an additional 77,051 shares in the last quarter. Vanguard Group Inc. grew its position in Multi-Color by 1.1% in the third quarter. Vanguard Group Inc. now owns 818,445 shares of the business services provider’s stock worth $50,948,000 after acquiring an additional 9,052 shares in the last quarter. Finally, Vanguard Group Inc grew its position in Multi-Color by 1.1% in the third quarter. Vanguard Group Inc now owns 818,445 shares of the business services provider’s stock worth $50,948,000 after acquiring an additional 9,052 shares in the last quarter. 69.28% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have commented on LABL. BidaskClub raised Multi-Color from a “hold” rating to a “buy” rating in a report on Thursday, February 7th. Sidoti cut Multi-Color from a “buy” rating to a “neutral” rating in a report on Tuesday, February 12th. Robert W. Baird cut Multi-Color from an “outperform” rating to a “neutral” rating and set a $55.00 price target on the stock. in a report on Wednesday, February 27th. Zacks Investment Research cut Multi-Color from a “hold” rating to a “strong sell” rating in a report on Friday, February 15th. Finally, KeyCorp reissued a “sell” rating on shares of Multi-Color in a report on Wednesday, January 23rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a strong buy rating to the stock. Multi-Color has an average rating of “Hold” and an average target price of $57.75.

Shares of LABL stock opened at $50.01 on Friday. Multi-Color has a 12-month low of $29.95 and a 12-month high of $71.94. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 2.10. The stock has a market capitalization of $1.03 billion, a PE ratio of 13.30 and a beta of 1.37.

Multi-Color (NASDAQ:LABL) last issued its earnings results on Monday, February 11th. The business services provider reported $0.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.28). Multi-Color had a return on equity of 10.84% and a net margin of 4.33%. The firm had revenue of $397.00 million during the quarter, compared to the consensus estimate of $409.65 million. As a group, analysts predict that Multi-Color will post 3.68 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 15th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, February 14th. This represents a $0.20 annualized dividend and a dividend yield of 0.40%. Multi-Color’s dividend payout ratio (DPR) is 5.32%.

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Multi-Color Company Profile

Multi-Color Corporation provides various label solutions in the United States, Australia, Germany, and internationally. The company offers pressure sensitive labels; in-mold labels; heat transfer labels; cut and stack labels, such as peel-away promotional labels, thermochromics, holographics, and metalized films, as well as scratch-off coupons and static-clings; and roll fed labels.

See Also: Current Ratio

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