Investors Title (NASDAQ:ITIC) was the recipient of a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 11,800 shares, an increase of 8.3% from the June 30th total of 10,900 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average daily volume of 2,500 shares, the short-interest ratio is presently 4.7 days.
Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA increased its holdings in Investors Title by 722.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 288 shares of the insurance provider’s stock worth $45,000 after acquiring an additional 253 shares in the last quarter. Secrest Blakey & Associates LLC purchased a new stake in Investors Title in the 1st quarter worth $75,000. Metropolitan Life Insurance Co. NY purchased a new stake in Investors Title in the 4th quarter worth $89,000. Bank of Montreal Can increased its holdings in Investors Title by 4,052.9% in the 1st quarter. Bank of Montreal Can now owns 706 shares of the insurance provider’s stock worth $111,000 after acquiring an additional 689 shares in the last quarter. Finally, MetLife Investment Advisors LLC purchased a new stake in Investors Title in the 4th quarter worth $121,000. Hedge funds and other institutional investors own 42.09% of the company’s stock.
Shares of ITIC traded down $1.45 during trading hours on Friday, hitting $140.09. The stock had a trading volume of 5,000 shares, compared to its average volume of 3,424. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.15 and a current ratio of 1.16. The firm has a 50-day moving average price of $160.30 and a 200 day moving average price of $163.10. Investors Title has a fifty-two week low of $139.20 and a fifty-two week high of $199.68. The firm has a market capitalization of $280.53 million, a price-to-earnings ratio of 12.31 and a beta of 0.54.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Friday, August 30th.
Separately, BidaskClub cut shares of Investors Title from a “sell” rating to a “strong sell” rating in a research note on Friday.
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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