Short Interest in HP Inc. (HPQ) Increases By 16.7%
HP Inc. (NYSE:HPQ) saw a significant growth in short interest in October. As of October 31st, there was short interest totalling 23,447,714 shares, a growth of 16.7% from the October 15th total of 20,091,486 shares. Approximately 1.5% of the company’s stock are short sold. Based on an average daily volume of 9,948,053 shares, the days-to-cover ratio is currently 2.4 days.
In other news, COO Catherine A. Lesjak sold 693,594 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $25.78, for a total value of $17,880,853.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Dion J. Weisler sold 86,389 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $24.80, for a total value of $2,142,447.20. Following the completion of the transaction, the insider now owns 815,945 shares in the company, valued at approximately $20,235,436. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. Boston Partners lifted its holdings in HP by 7.3% during the second quarter. Boston Partners now owns 38,822,978 shares of the computer maker’s stock worth $880,893,000 after acquiring an additional 2,637,787 shares during the period. Northern Trust Corp raised its stake in shares of HP by 0.7% in the second quarter. Northern Trust Corp now owns 21,440,019 shares of the computer maker’s stock valued at $486,474,000 after buying an additional 141,712 shares during the period. Bank of New York Mellon Corp raised its stake in shares of HP by 6.2% in the third quarter. Bank of New York Mellon Corp now owns 19,076,825 shares of the computer maker’s stock valued at $491,611,000 after buying an additional 1,120,811 shares during the period. LSV Asset Management raised its stake in shares of HP by 6.9% in the third quarter. LSV Asset Management now owns 14,953,881 shares of the computer maker’s stock valued at $385,361,000 after buying an additional 966,494 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of HP by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 14,327,977 shares of the computer maker’s stock valued at $325,104,000 after buying an additional 52,104 shares during the period. Institutional investors and hedge funds own 80.30% of the company’s stock.
HP (NYSE:HPQ) last issued its quarterly earnings results on Thursday, August 23rd. The computer maker reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.01. The business had revenue of $14.59 billion for the quarter, compared to analyst estimates of $14.29 billion. HP had a negative return on equity of 130.47% and a net margin of 7.95%. HP’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the company posted $0.43 earnings per share. On average, analysts anticipate that HP will post 2.02 EPS for the current fiscal year.
HPQ has been the topic of a number of recent research reports. UBS Group raised their target price on HP from $29.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, October 4th. Maxim Group raised their target price on HP from $29.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, October 4th. ValuEngine upgraded HP from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. Deutsche Bank raised their target price on HP from $27.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 24th. Finally, Citigroup raised their target price on HP to $30.00 and gave the company a “buy” rating in a report on Friday, August 24th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $27.44.
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HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.
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