TravelCenters of America LLC (NASDAQ:TA) Short Interest Down 30.6% in March

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TravelCenters of America LLC (NASDAQ:TA) was the recipient of a significant drop in short interest during the month of March. As of March 13th, there was short interest totalling 169,600 shares, a drop of 30.6% from the February 27th total of 244,400 shares. Approximately 2.2% of the company’s stock are short sold. Based on an average daily trading volume, of 93,600 shares, the days-to-cover ratio is currently 1.8 days.

TA has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of TravelCenters of America from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Friday, March 6th. ValuEngine upgraded shares of TravelCenters of America from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Finally, B. Riley started coverage on shares of TravelCenters of America in a report on Monday, December 23rd. They set a “buy” rating and a $35.00 price target on the stock.

TravelCenters of America stock opened at $10.36 on Friday. TravelCenters of America has a fifty-two week low of $5.51 and a fifty-two week high of $21.95. The stock has a market cap of $78.28 million, a PE ratio of 2.55 and a beta of 2.02. The firm’s 50-day simple moving average is $13.22 and its 200 day simple moving average is $13.08. The company has a debt-to-equity ratio of 3.86, a quick ratio of 0.57 and a current ratio of 1.08.

TravelCenters of America (NASDAQ:TA) last released its quarterly earnings results on Tuesday, February 25th. The specialty retailer reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($1.01) by $0.12. TravelCenters of America had a net margin of 0.55% and a negative return on equity of 3.50%. The business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the previous year, the company earned ($0.17) earnings per share. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, analysts predict that TravelCenters of America will post 1.28 EPS for the current fiscal year.

In other TravelCenters of America news, CFO Peter J. Crage acquired 2,700 shares of TravelCenters of America stock in a transaction dated Wednesday, March 4th. The stock was purchased at an average cost of $13.32 per share, for a total transaction of $35,964.00. Also, Director Joseph Morea acquired 2,000 shares of TravelCenters of America stock in a transaction dated Tuesday, March 3rd. The shares were acquired at an average price of $13.33 per share, with a total value of $26,660.00. Following the completion of the acquisition, the director now directly owns 13,400 shares of the company’s stock, valued at $178,622. The disclosure for this purchase can be found here. 8.40% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in TA. Connor Clark & Lunn Investment Management Ltd. boosted its stake in TravelCenters of America by 51.3% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,342 shares of the specialty retailer’s stock valued at $366,000 after acquiring an additional 7,238 shares during the last quarter. Geode Capital Management LLC boosted its stake in TravelCenters of America by 141.0% in the fourth quarter. Geode Capital Management LLC now owns 50,967 shares of the specialty retailer’s stock valued at $874,000 after acquiring an additional 29,818 shares during the last quarter. Standard Life Aberdeen plc purchased a new position in TravelCenters of America in the fourth quarter valued at about $1,220,000. Goldman Sachs Group Inc. bought a new stake in shares of TravelCenters of America in the fourth quarter valued at approximately $1,791,000. Finally, Trexquant Investment LP bought a new stake in shares of TravelCenters of America in the fourth quarter valued at approximately $277,000. Institutional investors and hedge funds own 31.86% of the company’s stock.

About TravelCenters of America

TravelCenters of America LLC operates travel centers and standalone restaurants in the United States and Canada. Its travel centers offer a range of products and services, including diesel fuel and gasoline, as well as nonfuel products and services, such as parking, truck repair and maintenance services, full service restaurants, quick service restaurants, and various customer amenities.

Further Reading: Front-End Load

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