Investors Title (NASDAQ:ITIC) was the recipient of a large decline in short interest in the month of July. As of July 15th, there was short interest totalling 10,900 shares, a decline of 17.4% from the June 15th total of 13,200 shares. Based on an average daily trading volume, of 2,800 shares, the short-interest ratio is currently 3.9 days. Currently, 0.8% of the company’s shares are short sold.
ITIC traded down $2.45 on Monday, hitting $162.80. The company had a trading volume of 2,659 shares, compared to its average volume of 3,512. The stock has a market cap of $307.53 million, a price-to-earnings ratio of 12.88 and a beta of 0.54. Investors Title has a 1 year low of $153.01 and a 1 year high of $202.85. The stock’s fifty day simple moving average is $162.76. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.15 and a current ratio of 1.15.
Investors Title (NASDAQ:ITIC) last issued its quarterly earnings results on Friday, May 3rd. The insurance provider reported $3.49 earnings per share (EPS) for the quarter. The company had revenue of $39.95 million for the quarter. Investors Title had a net margin of 14.99% and a return on equity of 13.16%.
A number of large investors have recently modified their holdings of ITIC. New York State Common Retirement Fund increased its stake in Investors Title by 151.2% during the first quarter. New York State Common Retirement Fund now owns 6,270 shares of the insurance provider’s stock worth $990,000 after purchasing an additional 3,774 shares during the period. BlackRock Inc. increased its stake in Investors Title by 2.5% during the fourth quarter. BlackRock Inc. now owns 109,408 shares of the insurance provider’s stock worth $19,329,000 after purchasing an additional 2,656 shares during the period. Two Sigma Investments LP purchased a new stake in Investors Title during the fourth quarter worth about $378,000. Geode Capital Management LLC increased its stake in Investors Title by 14.6% during the fourth quarter. Geode Capital Management LLC now owns 15,063 shares of the insurance provider’s stock worth $2,661,000 after purchasing an additional 1,923 shares during the period. Finally, Millennium Management LLC purchased a new stake in Investors Title during the fourth quarter worth about $304,000. Institutional investors own 42.12% of the company’s stock.
Separately, BidaskClub upgraded shares of WhiteHorse Finance from a “sell” rating to a “hold” rating in a report on Thursday, July 18th.
Investors Title Company Profile
Investors Title Company, through its subsidiaries, provides title insurance for residential, institutional, commercial, and industrial properties. The company underwrites land title insurance for owners and mortgagees as a primary insurer; and assumes the reinsurance of title insurance risks from other title insurance companies.
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