Veritiv Corp (NYSE:VRTV) Short Interest Update

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Veritiv Corp (NYSE:VRTV) was the recipient of a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 460,100 shares, an increase of 15.3% from the May 30th total of 399,000 shares. Based on an average daily volume of 88,900 shares, the short-interest ratio is presently 5.2 days. Currently, 3.7% of the shares of the company are sold short.

Several brokerages recently commented on VRTV. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Bank of America raised shares of Copa from a “neutral” rating to a “buy” rating in a report on Monday, May 13th. Finally, Zacks Investment Research raised shares of SCHNEIDER ELEC /ADR from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Friday, July 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Veritiv currently has a consensus rating of “Hold” and a consensus price target of $33.33.

NYSE VRTV traded down $0.39 on Monday, hitting $17.08. The company had a trading volume of 813 shares, compared to its average volume of 100,670. The stock has a market capitalization of $280.84 million, a P/E ratio of 7.16 and a beta of 1.46. The company’s fifty day moving average price is $18.73. The company has a quick ratio of 1.46, a current ratio of 2.25 and a debt-to-equity ratio of 1.80. Veritiv has a 12-month low of $17.23 and a 12-month high of $51.00.

Veritiv (NYSE:VRTV) last issued its quarterly earnings results on Thursday, May 9th. The basic materials company reported ($1.68) EPS for the quarter, missing the consensus estimate of $0.43 by ($2.11). The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Veritiv had a positive return on equity of 0.48% and a negative net margin of 0.31%. Veritiv’s revenue was down 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.28 EPS.

In related news, VP John G. Biscanti sold 2,500 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $19.09, for a total value of $47,725.00. Following the completion of the transaction, the vice president now directly owns 6,173 shares in the company, valued at approximately $117,842.57. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.60% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Meeder Asset Management Inc. acquired a new position in Veritiv in the first quarter valued at about $52,000. BNP Paribas Arbitrage SA lifted its position in Veritiv by 88.8% in the first quarter. BNP Paribas Arbitrage SA now owns 2,679 shares of the basic materials company’s stock valued at $71,000 after buying an additional 1,260 shares during the last quarter. Macquarie Group Ltd. lifted its position in Veritiv by 63.6% in the fourth quarter. Macquarie Group Ltd. now owns 3,600 shares of the basic materials company’s stock valued at $90,000 after buying an additional 1,400 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in Veritiv in the fourth quarter valued at about $90,000. Finally, Metropolitan Life Insurance Co. NY lifted its position in Veritiv by 347.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,995 shares of the basic materials company’s stock valued at $100,000 after buying an additional 3,102 shares during the last quarter. 91.63% of the stock is owned by institutional investors.

Veritiv Company Profile

Veritiv Corporation operates as a business-to-business distributor of packaging, facility solutions, print, and publishing products and services in the United States, Canada, Mexico, and internationally. It operates through four segments: Packaging, Facility Solutions, Print, and Publishing. The Packaging segment offers standard, custom, and comprehensive packaging solutions.

See Also: Lock-Up Period Expiration

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