RBC Bearings Incorporated (NASDAQ:ROLL) Short Interest Down 51.8% in December
RBC Bearings Incorporated (NASDAQ:ROLL) was the recipient of a large drop in short interest in the month of December. As of December 29th, there was short interest totalling 242,181 shares, a drop of 51.8% from the December 15th total of 502,618 shares. Approximately 1.0% of the company’s shares are short sold. Based on an average daily volume of 69,877 shares, the short-interest ratio is currently 3.5 days.
In other news, CEO Michael J. Hartnett sold 3,500 shares of the firm’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $128.79, for a total transaction of $450,765.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Thomas C. Crainer sold 15,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $120.76, for a total transaction of $1,811,400.00. The disclosure for this sale can be found here. Insiders sold a total of 37,487 shares of company stock valued at $4,632,657 in the last ninety days. Company insiders own 3.70% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of RBC Bearings by 106.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,237 shares of the industrial products company’s stock valued at $126,000 after acquiring an additional 637 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of RBC Bearings during the 3rd quarter valued at about $189,000. Victory Capital Management Inc. boosted its position in shares of RBC Bearings by 17.5% during the 2nd quarter. Victory Capital Management Inc. now owns 2,024 shares of the industrial products company’s stock valued at $206,000 after acquiring an additional 302 shares in the last quarter. Comerica Bank acquired a new position in RBC Bearings in the third quarter valued at about $230,000. Finally, Strs Ohio boosted its position in RBC Bearings by 58.3% in the third quarter. Strs Ohio now owns 1,900 shares of the industrial products company’s stock valued at $237,000 after buying an additional 700 shares in the last quarter. Institutional investors and hedge funds own 98.98% of the company’s stock.
A number of research analysts have recently weighed in on the stock. BidaskClub downgraded shares of RBC Bearings from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Investment Research upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating and set a $142.00 target price on the stock in a report on Friday. Drexel Hamilton started coverage on shares of RBC Bearings in a report on Thursday, December 21st. They issued a “buy” rating and a $140.00 target price on the stock. ValuEngine downgraded shares of RBC Bearings from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, CL King started coverage on shares of RBC Bearings in a report on Wednesday, November 29th. They issued a “buy” rating and a $142.00 target price on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. RBC Bearings presently has an average rating of “Buy” and an average price target of $141.00.
Shares of RBC Bearings (ROLL) traded down $7.93 during trading on Monday, hitting $114.69. 85,919 shares of the stock traded hands, compared to its average volume of 89,605. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 4.68. RBC Bearings has a 1-year low of $88.70 and a 1-year high of $139.95. The firm has a market cap of $2,880.00, a price-to-earnings ratio of 38.88, a P/E/G ratio of 5.59 and a beta of 1.28.
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