Short Interest in Servicesource International Inc (SREV) Increases By 78.0%
Servicesource International Inc (NASDAQ:SREV) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 1,345,664 shares, an increase of 78.0% from the August 15th total of 756,200 shares. Approximately 1.8% of the company’s stock are sold short. Based on an average daily trading volume, of 255,136 shares, the short-interest ratio is presently 5.3 days.
In other Servicesource International news, Director Bruce Dunlevie bought 30,335 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The stock was acquired at an average price of $2.98 per share, with a total value of $90,398.30. Following the completion of the transaction, the director now directly owns 141,182 shares in the company, valued at approximately $420,722.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 19.00% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Chicago Equity Partners LLC boosted its position in Servicesource International by 11.3% during the second quarter. Chicago Equity Partners LLC now owns 150,015 shares of the technology company’s stock valued at $591,000 after purchasing an additional 15,220 shares during the last quarter. Millennium Management LLC boosted its position in Servicesource International by 21.3% during the fourth quarter. Millennium Management LLC now owns 89,199 shares of the technology company’s stock valued at $276,000 after purchasing an additional 15,648 shares during the last quarter. MetLife Investment Advisors LLC acquired a new stake in Servicesource International during the first quarter valued at $143,000. Rhumbline Advisers boosted its position in Servicesource International by 61.1% during the second quarter. Rhumbline Advisers now owns 108,060 shares of the technology company’s stock valued at $426,000 after purchasing an additional 40,995 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in Servicesource International by 12.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 378,287 shares of the technology company’s stock valued at $1,491,000 after purchasing an additional 41,787 shares during the last quarter. 71.18% of the stock is owned by hedge funds and other institutional investors.
Shares of Servicesource International stock opened at $2.84 on Tuesday. The firm has a market capitalization of $274.61 million, a PE ratio of 35.50 and a beta of 1.01. Servicesource International has a 12 month low of $2.61 and a 12 month high of $4.47.
Servicesource International (NASDAQ:SREV) last issued its earnings results on Monday, August 6th. The technology company reported $0.01 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.01. The business had revenue of $61.11 million during the quarter, compared to analysts’ expectations of $59.47 million. Servicesource International had a positive return on equity of 0.73% and a negative net margin of 10.52%. research analysts expect that Servicesource International will post -0.01 EPS for the current year.
Servicesource International Company Profile
ServiceSource International, Inc provides recurring revenue management, maintenance, support, and subscription for technology and technology-enabled healthcare and life sciences companies. The company's solutions include outsourced sales operations, customer onboarding, customer success management, cross-sell and upsell, warranty conversion, account-based marketing, and channel recruitment and enablement, as well as renewals management, including the sale of maintenance and support service contracts for the products used by its clients' end-users.
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