Briggs & Stratton Co. (NYSE:BGG) Sees Significant Increase in Short Interest

Briggs & Stratton Co. (NYSE:BGG) was the recipient of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 6,756,200 shares, a growth of 7.8% from the June 30th total of 6,264,900 shares. Currently, 16.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 351,900 shares, the days-to-cover ratio is presently 19.2 days.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Brandes Investment Partners LP raised its holdings in shares of Briggs & Stratton by 21.6% during the first quarter. Brandes Investment Partners LP now owns 4,465,929 shares of the industrial products company’s stock worth $52,832,000 after acquiring an additional 793,235 shares during the period. Norges Bank bought a new position in Briggs & Stratton in the fourth quarter valued at $8,809,000. Vanguard Group Inc. grew its position in Briggs & Stratton by 8.7% in the second quarter. Vanguard Group Inc. now owns 4,396,640 shares of the industrial products company’s stock valued at $45,021,000 after purchasing an additional 352,274 shares in the last quarter. Penn Capital Management Co. Inc. bought a new position in Briggs & Stratton in the first quarter valued at $3,059,000. Finally, Silvercrest Asset Management Group LLC grew its position in Briggs & Stratton by 1,479.6% in the second quarter. Silvercrest Asset Management Group LLC now owns 173,754 shares of the industrial products company’s stock valued at $7,582,000 after purchasing an additional 162,754 shares in the last quarter. Institutional investors own 84.14% of the company’s stock.

BGG has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Briggs & Stratton from a “strong sell” rating to a “hold” rating in a report on Monday, July 1st. ValuEngine upgraded shares of Briggs & Stratton from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Briggs & Stratton currently has a consensus rating of “Hold” and a consensus target price of $17.50.



BGG traded down $0.26 during mid-day trading on Wednesday, hitting $8.43. The stock had a trading volume of 81,890 shares, compared to its average volume of 422,326. The business’s fifty day simple moving average is $9.57. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.34 and a quick ratio of 0.50. The firm has a market cap of $374.32 million, a price-to-earnings ratio of 6.53 and a beta of 1.08. Briggs & Stratton has a 1-year low of $8.54 and a 1-year high of $21.40.

About Briggs & Stratton

Briggs & Stratton Corporation designs, manufactures, markets, sells, and services gasoline engines for outdoor power equipment to the original equipment manufacturers in the United States. It operates in two segments, Engines and Products. The Engines segment offers four-cycle aluminum alloy gasoline engines that are used primarily by the lawn and garden equipment industry.

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