Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) Sees Large Growth in Short Interest

by · The Markets Daily

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI – Get Free Report) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 666,700 shares, a growth of 25.9% from the May 31st total of 529,400 shares. Based on an average daily trading volume, of 246,100 shares, the days-to-cover ratio is presently 2.7 days. Approximately 3.8% of the company’s stock are short sold.

Consensus Cloud Solutions Price Performance

NASDAQ CCSI traded up $0.84 on Friday, hitting $17.18. 631,765 shares of the stock were exchanged, compared to its average volume of 184,065. The business’s fifty day moving average is $16.98 and its 200 day moving average is $17.92. Consensus Cloud Solutions has a 52 week low of $11.62 and a 52 week high of $35.29. The company has a market capitalization of $330.20 million, a PE ratio of 3.79 and a beta of 1.38.

Consensus Cloud Solutions (NASDAQ:CCSI – Get Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.30. Consensus Cloud Solutions had a net margin of 24.55% and a negative return on equity of 49.60%. The firm had revenue of $88.15 million for the quarter, compared to analyst estimates of $87.29 million. Analysts predict that Consensus Cloud Solutions will post 4.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CCSI shares. Oppenheimer cut their price objective on shares of Consensus Cloud Solutions from $29.00 to $20.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Wedbush reissued an “outperform” rating and issued a $24.00 price objective on shares of Consensus Cloud Solutions in a research report on Friday, May 10th.

Read Our Latest Report on Consensus Cloud Solutions

Institutional Trading of Consensus Cloud Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its position in shares of Consensus Cloud Solutions by 1.0% in the first quarter. Janus Henderson Group PLC now owns 1,587,963 shares of the company’s stock valued at $25,185,000 after purchasing an additional 15,871 shares during the period. Heron Bay Capital Management raised its position in shares of Consensus Cloud Solutions by 63.7% in the first quarter. Heron Bay Capital Management now owns 1,100,425 shares of the company’s stock valued at $17,453,000 after purchasing an additional 428,232 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Consensus Cloud Solutions by 13.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 269,965 shares of the company’s stock valued at $7,076,000 after acquiring an additional 31,433 shares in the last quarter. Kent Lake Capital LLC acquired a new position in shares of Consensus Cloud Solutions in the first quarter valued at about $2,312,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Consensus Cloud Solutions by 3,943.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 114,549 shares of the company’s stock valued at $1,817,000 after acquiring an additional 111,716 shares in the last quarter. 93.93% of the stock is owned by institutional investors.

About Consensus Cloud Solutions

(Get Free Report)

Consensus Cloud Solutions, Inc, together with its subsidiaries, provides information delivery services with a software-as-a-service platform worldwide. The company offers eFax Corporate, a digital cloud-fax technology; Unite, a single platform that allows the user to choose between various protocols to send and receive healthcare information and can integrate into an existing electronic health record system or stand-alone if no EHR is present.

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