180 Degree Capital Corp (NASDAQ:TURN) Sees Large Decline in Short Interest

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180 Degree Capital Corp (NASDAQ:TURN) was the recipient of a significant decrease in short interest during the month of March. As of March 13th, there was short interest totalling 63,700 shares, a decrease of 30.0% from the February 27th total of 91,000 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily trading volume, of 37,400 shares, the short-interest ratio is currently 1.7 days.

Shares of NASDAQ:TURN opened at $1.36 on Friday. 180 Degree Capital has a fifty-two week low of $1.04 and a fifty-two week high of $2.30. The business has a 50-day moving average of $1.87 and a two-hundred day moving average of $2.08.

Separately, ValuEngine cut shares of 180 Degree Capital from a “hold” rating to a “sell” rating in a report on Monday, March 9th.

In other 180 Degree Capital news, President Daniel B. Wolfe bought 22,887 shares of 180 Degree Capital stock in a transaction on Friday, February 28th. The stock was purchased at an average cost of $2.00 per share, for a total transaction of $45,774.00. Following the completion of the purchase, the president now directly owns 310,000 shares of the company’s stock, valued at $620,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kevin Rendino bought 14,534 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was acquired at an average cost of $1.96 per share, with a total value of $28,486.64. Following the completion of the transaction, the chief executive officer now directly owns 755,401 shares of the company’s stock, valued at $1,480,585.96. The disclosure for this purchase can be found here. Insiders purchased 82,207 shares of company stock worth $143,834 in the last 90 days. 4.10% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TURN. B. Riley Financial Inc. lifted its holdings in 180 Degree Capital by 0.8% in the 4th quarter. B. Riley Financial Inc. now owns 1,379,915 shares of the company’s stock worth $2,967,000 after purchasing an additional 10,427 shares during the last quarter. Raffles Associates LP grew its holdings in 180 Degree Capital by 94.0% during the third quarter. Raffles Associates LP now owns 97,000 shares of the company’s stock valued at $207,000 after purchasing an additional 47,000 shares during the last quarter. Ariel Investments LLC raised its position in shares of 180 Degree Capital by 2.2% in the fourth quarter. Ariel Investments LLC now owns 2,978,818 shares of the company’s stock valued at $6,404,000 after purchasing an additional 64,500 shares during the period. Finally, Punch & Associates Investment Management Inc. raised its position in shares of 180 Degree Capital by 34.6% in the fourth quarter. Punch & Associates Investment Management Inc. now owns 1,474,510 shares of the company’s stock valued at $3,170,000 after purchasing an additional 379,200 shares during the period. Institutional investors own 33.90% of the company’s stock.

About 180 Degree Capital

180 Degree Capital Corp. is a publicly owned investment manager. The firm manages separate client-focused equity portfolios. It invests in the public equity markets of the United States. The firm also invests in privately held portfolio companies. It primarily invests in value stocks of small cap companies.

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