ASGN Incorporated (NYSE:ASGN) Short Interest Up 8.9% in October

by · The Markets Daily

ASGN Incorporated (NYSE:ASGN – Get Free Report) was the target of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 1,590,000 shares, an increase of 8.9% from the October 15th total of 1,460,000 shares. Currently, 3.7% of the company’s shares are sold short. Based on an average daily trading volume, of 268,200 shares, the short-interest ratio is presently 5.9 days.

ASGN Stock Down 4.2 %

ASGN traded down $3.90 during trading hours on Friday, hitting $87.89. 701,452 shares of the company’s stock were exchanged, compared to its average volume of 322,470. ASGN has a 1-year low of $84.62 and a 1-year high of $106.42. The stock’s 50-day moving average is $94.02 and its two-hundred day moving average is $93.62. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of 22.25 and a beta of 1.40. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.58.

ASGN (NYSE:ASGN – Get Free Report) last announced its earnings results on Wednesday, October 23rd. The business services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.35 by $0.08. ASGN had a net margin of 4.37% and a return on equity of 13.65%. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the company posted $1.68 earnings per share. The firm’s revenue was down 7.7% on a year-over-year basis. Sell-side analysts predict that ASGN will post 5.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Canaccord Genuity Group restated a “buy” rating and set a $115.00 price objective on shares of ASGN in a report on Thursday, October 24th. Jefferies Financial Group reduced their price target on shares of ASGN from $95.00 to $88.00 and set a “hold” rating for the company in a report on Monday, September 9th. Finally, BMO Capital Markets upped their price target on shares of ASGN from $94.00 to $96.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, ASGN currently has a consensus rating of “Hold” and a consensus target price of $97.44.

Get Our Latest Analysis on ASGN

Insider Buying and Selling

In related news, President Randolph C. Blazer sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $95.03, for a total transaction of $950,300.00. Following the completion of the transaction, the president now owns 85,923 shares in the company, valued at approximately $8,165,262.69. The trade was a 10.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Theodore S. Hanson sold 1,200 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $99.64, for a total transaction of $119,568.00. Following the transaction, the chief executive officer now owns 288,855 shares of the company’s stock, valued at approximately $28,781,512.20. This represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,763 shares of company stock valued at $1,398,986 over the last ninety days. Insiders own 3.20% of the company’s stock.

Institutional Trading of ASGN

Several institutional investors and hedge funds have recently added to or reduced their stakes in ASGN. LRI Investments LLC bought a new stake in ASGN during the first quarter worth $154,000. SG Americas Securities LLC raised its position in ASGN by 1,851.6% during the second quarter. SG Americas Securities LLC now owns 19,887 shares of the business services provider’s stock worth $1,753,000 after acquiring an additional 18,868 shares in the last quarter. Argent Capital Management LLC raised its position in ASGN by 43.8% during the second quarter. Argent Capital Management LLC now owns 9,417 shares of the business services provider’s stock worth $830,000 after acquiring an additional 2,868 shares in the last quarter. Handelsbanken Fonder AB raised its position in ASGN by 28.2% during the third quarter. Handelsbanken Fonder AB now owns 11,823 shares of the business services provider’s stock worth $1,102,000 after acquiring an additional 2,600 shares in the last quarter. Finally, Reinhart Partners LLC. raised its position in ASGN by 7.2% during the third quarter. Reinhart Partners LLC. now owns 588,999 shares of the business services provider’s stock worth $54,912,000 after acquiring an additional 39,607 shares in the last quarter. 95.36% of the stock is owned by institutional investors.

About ASGN

(Get Free Report)

ASGN Incorporated engages in the provision of information technology (IT) services and solutions in the technology, digital, and creative fields for commercial and government sectors in the United States, Canada, and Europe. It operates through two segments: Commercial and Federal Government. The Commercial Segment provides consulting, creative digital marketing, and permanent placement services primarily to enterprise clients.

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