Montage Resources Corp (NYSE:MR) Sees Significant Growth in Short Interest

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Montage Resources Corp (NYSE:MR) was the recipient of a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 888,900 shares, an increase of 15.1% from the April 30th total of 772,000 shares. Based on an average daily volume of 249,900 shares, the short-interest ratio is presently 3.6 days. Approximately 16.3% of the shares of the stock are short sold.

In related news, CEO John K. Reinhart acquired 5,050 shares of the stock in a transaction dated Friday, May 17th. The shares were purchased at an average price of $9.90 per share, for a total transaction of $49,995.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Oleg E. Tolmachev acquired 2,400 shares of the stock in a transaction dated Wednesday, May 15th. The shares were bought at an average price of $10.45 per share, for a total transaction of $25,080.00. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 8,450 shares of company stock valued at $85,035. Insiders own 1.01% of the company’s stock.

Large investors have recently modified their holdings of the stock. Quantamental Technologies LLC purchased a new position in Montage Resources in the 1st quarter worth $27,000. Kayne Anderson Capital Advisors LP purchased a new position in Montage Resources in the 1st quarter worth $6,670,000. Sanders Morris Harris LLC purchased a new position in Montage Resources in the 1st quarter worth $5,641,000. Spark Investment Management LLC purchased a new position in Montage Resources in the 1st quarter worth $308,000. Finally, Barings LLC purchased a new position in Montage Resources in the 1st quarter worth $1,337,000. Institutional investors own 75.09% of the company’s stock.

Several research firms have recently weighed in on MR. Zacks Investment Research upgraded shares of Montage Resources from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Friday, May 17th. ValuEngine cut shares of Montage Resources from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 25th. Finally, Capital One Financial upgraded shares of Montage Resources from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, May 8th.

Shares of Montage Resources stock traded down $0.05 on Wednesday, hitting $6.73. 273,400 shares of the company traded hands, compared to its average volume of 182,510. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a market cap of $234.36 million, a P/E ratio of 7.31 and a beta of 2.01. Montage Resources has a 12-month low of $6.27 and a 12-month high of $29.40.

Montage Resources (NYSE:MR) last posted its quarterly earnings data on Tuesday, May 7th. The medical instruments supplier reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.91. The firm had revenue of $141.50 million for the quarter, compared to analysts’ expectations of $125.10 million. Montage Resources had a net margin of 1.35% and a return on equity of 8.73%. On average, analysts predict that Montage Resources will post 2.43 earnings per share for the current year.

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Montage Resources Company Profile

Montage Resources Corporation operates as an oil and natural gas exploration and production company. As of December 31, 2018, it had an acreage position comprising approximately 241,000 net acres in Ohio and Pennsylvania; and had estimated proved reserves of 1,864.7 billion cubic feet of natural gas equivalent.

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