Short Interest in Commercial Vehicle Group, Inc. (NASDAQ:CVGI) Drops By 20.0%

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Commercial Vehicle Group, Inc. (NASDAQ:CVGI) saw a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 684,400 shares, a decrease of 20.0% from the September 30th total of 855,700 shares. Approximately 2.4% of the shares of the stock are sold short. Based on an average daily volume of 259,800 shares, the short-interest ratio is presently 2.6 days.

Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its holdings in shares of Commercial Vehicle Group by 15.3% in the 2nd quarter. Renaissance Technologies LLC now owns 2,109,700 shares of the company’s stock worth $16,920,000 after purchasing an additional 279,300 shares during the period. BlackRock Inc. raised its holdings in shares of Commercial Vehicle Group by 13.1% in the 2nd quarter. BlackRock Inc. now owns 2,080,772 shares of the company’s stock worth $16,688,000 after purchasing an additional 241,657 shares during the period. Vanguard Group Inc. raised its holdings in shares of Commercial Vehicle Group by 23.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,493,459 shares of the company’s stock worth $11,977,000 after purchasing an additional 283,781 shares during the period. AQR Capital Management LLC raised its holdings in shares of Commercial Vehicle Group by 71.4% in the 2nd quarter. AQR Capital Management LLC now owns 494,180 shares of the company’s stock worth $3,963,000 after purchasing an additional 205,797 shares during the period. Finally, Mackay Shields LLC raised its holdings in shares of Commercial Vehicle Group by 11.7% during the 3rd quarter. Mackay Shields LLC now owns 487,581 shares of the company’s stock valued at $3,516,000 after buying an additional 50,900 shares during the period. Institutional investors own 81.96% of the company’s stock.

Commercial Vehicle Group stock traded down $0.07 during trading hours on Friday, hitting $6.92. The stock had a trading volume of 169,400 shares, compared to its average volume of 168,197. The stock’s fifty day moving average is $7.34 and its two-hundred day moving average is $7.33. The stock has a market capitalization of $217.18 million, a price-to-earnings ratio of 4.74, a PEG ratio of 0.62 and a beta of 2.75. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.25 and a quick ratio of 1.58. Commercial Vehicle Group has a 1-year low of $5.35 and a 1-year high of $9.77.

Commercial Vehicle Group (NASDAQ:CVGI) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). The firm had revenue of $225.40 million during the quarter, compared to analysts’ expectations of $226.20 million. Commercial Vehicle Group had a return on equity of 27.58% and a net margin of 3.82%. As a group, sell-side analysts anticipate that Commercial Vehicle Group will post 1.12 EPS for the current year.

Several analysts have weighed in on CVGI shares. Barrington Research reissued a “buy” rating and issued a $8.50 target price on shares of Commercial Vehicle Group in a report on Monday, October 21st. ValuEngine lowered Commercial Vehicle Group from a “sell” rating to a “strong sell” rating in a report on Friday, October 25th. Dougherty & Co started coverage on Commercial Vehicle Group in a report on Tuesday, August 27th. They issued a “neutral” rating on the stock. BidaskClub raised Commercial Vehicle Group from a “hold” rating to a “buy” rating in a report on Friday, July 26th. Finally, Zacks Investment Research lowered Commercial Vehicle Group from a “buy” rating to a “hold” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Commercial Vehicle Group presently has a consensus rating of “Hold” and a consensus target price of $8.75.

About Commercial Vehicle Group

Commercial Vehicle Group, Inc, together with its subsidiaries, designs, engineers, produces, and sells a range of cab related products and systems in North America, Europe, and the Asia Pacific regions. It operates through two segments, Electrical Systems and Global Seating. The Electrical Systems segment electronic provides wire harness assemblies that function as current carrying devices used to provide electrical interconnections for gauges, lights, control functions, power circuits, powertrain and transmission sensors, emissions systems, and other electronic applications on commercial vehicles; and panel assemblies and cabinets.

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