Short Interest in Yext, Inc. (NYSE:YEXT) Grows By 17.5%

by · The Markets Daily

Yext, Inc. (NYSE:YEXT – Get Free Report) saw a significant increase in short interest in September. As of September 15th, there was short interest totalling 3,160,000 shares, an increase of 17.5% from the August 31st total of 2,690,000 shares. Based on an average daily trading volume, of 896,100 shares, the short-interest ratio is currently 3.5 days. Currently, 3.0% of the shares of the stock are short sold.

Insider Activity

In related news, Director Seth H. Waugh purchased 32,600 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were bought at an average price of $6.65 per share, for a total transaction of $216,790.00. Following the completion of the transaction, the director now owns 153,350 shares of the company’s stock, valued at $1,019,777.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.40% of the stock is owned by company insiders.

Institutional Trading of Yext

A number of institutional investors and hedge funds have recently added to or reduced their stakes in YEXT. Lynrock Lake LP grew its holdings in Yext by 23.8% during the 2nd quarter. Lynrock Lake LP now owns 8,267,487 shares of the company’s stock worth $44,231,000 after acquiring an additional 1,591,791 shares during the period. Federated Hermes Inc. increased its holdings in Yext by 86.6% in the second quarter. Federated Hermes Inc. now owns 2,748,420 shares of the company’s stock worth $14,704,000 after purchasing an additional 1,275,348 shares in the last quarter. Invenomic Capital Management LP lifted its stake in Yext by 67.0% in the first quarter. Invenomic Capital Management LP now owns 1,503,960 shares of the company’s stock valued at $9,069,000 after buying an additional 603,598 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Yext by 12.5% in the second quarter. The Manufacturers Life Insurance Company now owns 4,734,880 shares of the company’s stock valued at $25,332,000 after buying an additional 526,043 shares during the period. Finally, Circumference Group LLC bought a new position in shares of Yext during the 4th quarter worth approximately $2,503,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on YEXT shares. DA Davidson increased their price objective on shares of Yext from $5.50 to $5.75 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Needham & Company LLC upgraded Yext from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a research note on Thursday, September 5th. Finally, Roth Mkm reissued a “buy” rating and set a $7.50 price objective (down previously from $8.00) on shares of Yext in a report on Thursday, September 5th.

Check Out Our Latest Report on Yext

Yext Trading Up 3.0 %

NYSE YEXT traded up $0.20 on Monday, hitting $6.92. The company’s stock had a trading volume of 852,032 shares, compared to its average volume of 913,557. The company’s 50-day moving average is $5.63 and its 200 day moving average is $5.49. Yext has a 1-year low of $4.29 and a 1-year high of $7.53.

Yext (NYSE:YEXT – Get Free Report) last announced its earnings results on Wednesday, September 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. Yext had a negative return on equity of 3.35% and a negative net margin of 1.68%. The business had revenue of $97.90 million during the quarter, compared to analyst estimates of $98.15 million. During the same period last year, the company earned ($0.03) EPS. Yext’s revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, equities analysts forecast that Yext will post 0.08 EPS for the current year.

Yext Company Profile

(Get Free Report)

Yext, Inc organizes business facts to provide answers to consumer questions in North America and internationally. It operates Yext platform, a cloud-based platform that allows its customers to offer answers to consumer questions, to control the facts about their businesses and the content of their landing pages, and to manage their consumer reviews; and provides customers to update their information and content through its publisher network of maps, apps, search engines, intelligent GPS systems, digital assistants, vertical directories, and social networks, as well as professional services.

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