Short Interest in Old Republic International Co. (NYSE:ORI) Grows By 13.5%

Old Republic International Co. (NYSE:ORI) was the recipient of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 4,880,000 shares, a growth of 13.5% from the January 15th total of 4,300,000 shares. Currently, 1.7% of the company’s stock are short sold. Based on an average daily trading volume, of 1,470,000 shares, the short-interest ratio is currently 3.3 days.

Old Republic International stock opened at $23.49 on Friday. The company has a market capitalization of $7.10 billion, a P/E ratio of 6.71 and a beta of 0.72. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.49 and a current ratio of 1.21. Old Republic International has a fifty-two week low of $20.40 and a fifty-two week high of $24.10. The stock has a 50-day simple moving average of $22.73 and a 200-day simple moving average of $22.76.

Old Republic International (NYSE:ORI) last released its quarterly earnings results on Thursday, January 23rd. The insurance provider reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.08. Old Republic International had a return on equity of 9.52% and a net margin of 14.64%. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the business posted $0.45 EPS. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, analysts forecast that Old Republic International will post 1.65 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC increased its holdings in shares of Old Republic International by 188.5% in the 4th quarter. FMR LLC now owns 5,835,560 shares of the insurance provider’s stock valued at $130,542,000 after acquiring an additional 3,813,092 shares during the period. Victory Capital Management Inc. boosted its stake in Old Republic International by 64.1% during the 4th quarter. Victory Capital Management Inc. now owns 7,183,071 shares of the insurance provider’s stock worth $161,978,000 after purchasing an additional 2,807,051 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new stake in Old Republic International during the 4th quarter worth $58,545,000. Bank of America Corp DE grew its position in Old Republic International by 277.0% during the 4th quarter. Bank of America Corp DE now owns 1,722,965 shares of the insurance provider’s stock worth $38,542,000 after purchasing an additional 1,265,885 shares during the last quarter. Finally, NWQ Investment Management Company LLC grew its position in Old Republic International by 144.8% during the 4th quarter. NWQ Investment Management Company LLC now owns 2,037,660 shares of the insurance provider’s stock worth $45,582,000 after purchasing an additional 1,205,448 shares during the last quarter. Institutional investors and hedge funds own 74.93% of the company’s stock.

Several equities research analysts recently commented on ORI shares. Zacks Investment Research lowered shares of Old Republic International from a “hold” rating to a “sell” rating in a research note on Wednesday, February 5th. ValuEngine upgraded shares of Old Republic International from a “sell” rating to a “hold” rating in a research note on Friday, October 25th.

About Old Republic International

Old Republic International Corporation, through its subsidiaries, engages in the insurance underwriting and related services business primarily in the United States and Canada. The company operates through three segments: General Insurance Group, Title Insurance Group, and the Republic Financial Indemnity Group Run-off Business.

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