Systemax Inc. (NYSE:SYX) Short Interest Update

Systemax Inc. (NYSE:SYX) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 172,900 shares, a growth of 23.5% from the June 30th total of 140,000 shares. Based on an average daily volume of 62,200 shares, the days-to-cover ratio is currently 2.8 days. Currently, 1.3% of the shares of the company are sold short.

Separately, Zacks Investment Research upgraded Systemax from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can increased its position in Systemax by 1,205.7% in the 2nd quarter. Bank of Montreal Can now owns 1,136 shares of the company’s stock valued at $25,000 after acquiring an additional 1,049 shares during the period. Assetmark Inc. acquired a new stake in Systemax in the 2nd quarter valued at approximately $36,000. Aperio Group LLC acquired a new stake in Systemax in the 2nd quarter valued at approximately $42,000. Legal & General Group Plc increased its position in Systemax by 26.5% in the 4th quarter. Legal & General Group Plc now owns 2,366 shares of the company’s stock valued at $57,000 after acquiring an additional 495 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in shares of Systemax by 651.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,706 shares of the company’s stock valued at $61,000 after purchasing an additional 2,346 shares during the period. Hedge funds and other institutional investors own 28.92% of the company’s stock.

SYX traded down $0.66 during trading hours on Wednesday, hitting $20.04. The company’s stock had a trading volume of 176,000 shares, compared to its average volume of 68,775. Systemax has a fifty-two week low of $18.49 and a fifty-two week high of $40.27. The company has a quick ratio of 1.14, a current ratio of 1.75 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $768.84 million, a price-to-earnings ratio of 16.39 and a beta of 0.12. The business’s 50-day moving average is $20.78.

Systemax (NYSE:SYX) last posted its earnings results on Tuesday, July 30th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. Systemax had a return on equity of 25.61% and a net margin of 23.14%. The firm had revenue of $248.60 million for the quarter, compared to analysts’ expectations of $247.65 million. During the same period last year, the firm earned $0.60 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year. Equities analysts expect that Systemax will post 1.39 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Monday, August 12th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.40%. The ex-dividend date is Friday, August 9th. Systemax’s dividend payout ratio is currently 38.71%.

Systemax Company Profile

Systemax Inc operates as a direct marketer of brand name and private label industrial and business equipment and supplies in North America. It sells a range of maintenance, repair, and operation products, including storage and shelving, material handling, janitorial and maintenance products, furniture and office products, workbenches and shop desks, HVAC/R and fans, safety and security products, outdoor and grounds maintenance products, tools and instruments, and office and school supplies.

Further Reading: Outperform Rating

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