Investors Title Company (NASDAQ:ITIC) Short Interest Update

by · The Markets Daily

Investors Title Company (NASDAQ:ITIC – Get Free Report) was the target of a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 53,934 shares, a growth of 21.4% from the January 15th total of 44,440 shares. Approximately 3.9% of the company’s shares are sold short. Based on an average daily trading volume, of 20,951 shares, the short-interest ratio is presently 2.6 days. Based on an average daily trading volume, of 20,951 shares, the short-interest ratio is presently 2.6 days. Approximately 3.9% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Investors Title in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Read Our Latest Stock Report on ITIC

Institutional Investors Weigh In On Investors Title

Several hedge funds have recently modified their holdings of the stock. SummerHaven Investment Management LLC purchased a new position in Investors Title in the 3rd quarter worth approximately $1,125,000. Aviva PLC lifted its position in shares of Investors Title by 146.2% during the second quarter. Aviva PLC now owns 2,186 shares of the insurance provider’s stock worth $462,000 after purchasing an additional 1,298 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new position in shares of Investors Title in the second quarter valued at $490,000. Los Angeles Capital Management LLC purchased a new position in shares of Investors Title in the second quarter valued at $412,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Investors Title during the 2nd quarter valued at $224,000. 41.40% of the stock is currently owned by hedge funds and other institutional investors.

Investors Title Stock Down 10.1%

Shares of NASDAQ ITIC traded down $26.67 during trading on Wednesday, hitting $238.29. 8,686 shares of the company traded hands, compared to its average volume of 15,963. The firm has a market capitalization of $450.37 million, a P/E ratio of 12.61 and a beta of 0.65. The company has a 50-day moving average price of $256.45 and a 200-day moving average price of $256.89. Investors Title has a 1 year low of $190.20 and a 1 year high of $288.98.

Investors Title (NASDAQ:ITIC – Get Free Report) last issued its earnings results on Tuesday, February 17th. The insurance provider reported $3.97 earnings per share for the quarter. Investors Title had a return on equity of 13.72% and a net margin of 13.15%.The firm had revenue of $69.52 million for the quarter.

About Investors Title

(Get Free Report)

Investors Title Company engages in the issuance of residential and commercial title insurance for residential, institutional, commercial, and industrial properties. The company underwrites land title insurance for owners and mortgagees as a primary insurer; and assumes the reinsurance of title insurance risks from other title insurance companies. It offers services in connection with tax-deferred exchanges of like-kind property; acts as a qualified intermediary in tax-deferred exchanges of property; coordinates the exchange aspects of the real estate transaction, such as drafting standard exchange documents, holding the exchange funds between the sale of the old property and the purchase of the new property, and accepting the formal identification of the replacement property.

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