Veritiv Corp (NYSE:VRTV) Short Interest Down 9.2% in June

Veritiv Corp (NYSE:VRTV) was the recipient of a significant decrease in short interest during the month of June. As of June 15th, there was short interest totalling 399,000 shares, a decrease of 9.2% from the May 15th total of 439,600 shares. Based on an average daily trading volume, of 86,600 shares, the short-interest ratio is currently 4.6 days. Approximately 3.2% of the company’s stock are sold short.

Shares of NYSE VRTV traded up $0.35 during trading on Friday, hitting $16.67. The stock had a trading volume of 107,628 shares, compared to its average volume of 103,990. Veritiv has a 12 month low of $16.11 and a 12 month high of $51.00. The company has a quick ratio of 1.46, a current ratio of 2.25 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $267.97 million, a P/E ratio of 7.03 and a beta of 1.46. The company’s fifty day moving average price is $18.49.

Veritiv (NYSE:VRTV) last posted its earnings results on Thursday, May 9th. The basic materials company reported ($1.68) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($2.11). The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $2.11 billion. Veritiv had a positive return on equity of 0.48% and a negative net margin of 0.31%. The business’s revenue was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.28 EPS. On average, research analysts predict that Veritiv will post -0.2 earnings per share for the current year.

In other Veritiv news, VP John G. Biscanti sold 2,500 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $19.09, for a total transaction of $47,725.00. Following the transaction, the vice president now owns 6,173 shares in the company, valued at $117,842.57. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.60% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nordea Investment Management AB raised its position in shares of Veritiv by 3.0% in the 1st quarter. Nordea Investment Management AB now owns 51,400 shares of the basic materials company’s stock worth $1,352,000 after purchasing an additional 1,500 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Veritiv in the 1st quarter worth about $341,000. ClariVest Asset Management LLC raised its position in shares of Veritiv by 3.0% in the 1st quarter. ClariVest Asset Management LLC now owns 51,400 shares of the basic materials company’s stock worth $1,352,000 after purchasing an additional 1,500 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Veritiv by 42.4% in the 1st quarter. JPMorgan Chase & Co. now owns 433,601 shares of the basic materials company’s stock worth $11,413,000 after purchasing an additional 129,074 shares during the last quarter. Finally, Spark Investment Management LLC raised its position in shares of Veritiv by 19.5% in the 1st quarter. Spark Investment Management LLC now owns 75,377 shares of the basic materials company’s stock worth $1,983,000 after purchasing an additional 12,277 shares during the last quarter. Institutional investors own 91.63% of the company’s stock.

Several research firms have recently issued reports on VRTV. Zacks Investment Research upgraded shares of Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Friday. Bank of America upgraded shares of Copa from a “neutral” rating to a “buy” rating in a research note on Monday, May 13th. Finally, ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $33.33.

Veritiv Company Profile

Veritiv Corporation operates as a business-to-business distributor of packaging, facility solutions, print, and publishing products and services in the United States, Canada, Mexico, and internationally. It operates through four segments: Packaging, Facility Solutions, Print, and Publishing. The Packaging segment offers standard, custom, and comprehensive packaging solutions.

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