TriNet Group Inc (NYSE:TNET) Sees Significant Decrease in Short Interest

TriNet Group Inc (NYSE:TNET) was the target of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 801,100 shares, a decrease of 11.3% from the June 30th total of 902,900 shares. Based on an average daily volume of 304,500 shares, the short-interest ratio is currently 2.6 days. Currently, 1.9% of the shares of the company are sold short.

In other news, Director Martin Babinec sold 40,783 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $65.29, for a total value of $2,662,722.07. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Burton M. Goldfield sold 23,486 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $60.99, for a total value of $1,432,411.14. Following the completion of the transaction, the chief executive officer now directly owns 336,809 shares in the company, valued at $20,541,980.91. The disclosure for this sale can be found here. Insiders sold 210,647 shares of company stock worth $14,276,949 over the last three months. Corporate insiders own 37.00% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Hilton Capital Management LLC purchased a new stake in shares of TriNet Group in the first quarter worth about $79,000. Quantamental Technologies LLC purchased a new stake in shares of TriNet Group in the first quarter worth about $100,000. NumerixS Investment Technologies Inc purchased a new stake in shares of TriNet Group in the first quarter worth about $130,000. Capital Fund Management S.A. purchased a new stake in shares of TriNet Group in the second quarter worth about $203,000. Finally, ARP Americas LP purchased a new position in TriNet Group during the first quarter worth approximately $209,000. Hedge funds and other institutional investors own 86.17% of the company’s stock.



Shares of TNET traded down $4.98 during mid-day trading on Wednesday, reaching $67.70. The company had a trading volume of 312,400 shares, compared to its average volume of 332,612. TriNet Group has a 52-week low of $38.74 and a 52-week high of $76.92. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $5.09 billion, a PE ratio of 26.34 and a beta of 1.89. The company has a 50 day moving average price of $71.03.

TriNet Group (NYSE:TNET) last issued its earnings results on Thursday, July 25th. The business services provider reported $0.70 EPS for the quarter, hitting analysts’ consensus estimates of $0.70. TriNet Group had a return on equity of 46.35% and a net margin of 5.16%. The firm had revenue of $231.00 million for the quarter, compared to the consensus estimate of $221.25 million. During the same quarter in the prior year, the business earned $0.87 earnings per share. The company’s revenue was up 5.0% compared to the same quarter last year. Analysts anticipate that TriNet Group will post 2.98 earnings per share for the current year.

Separately, Zacks Investment Research raised TriNet Group from a “sell” rating to a “buy” rating and set a $82.00 price objective on the stock in a report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $60.70.

About TriNet Group

TriNet Group, Inc provides human resources solutions for small and midsize businesses in the United States and Canada. The company offers multi-state payroll processing and tax administration; employee benefits programs, including health insurance and retirement plans; workers compensation insurance and claims management; employment and benefit law compliance; and other services.

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