SEI Investments (NASDAQ:SEIC) Short Interest Down 15.0% in July

SEI Investments (NASDAQ:SEIC) was the target of a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 1,968,300 shares, a drop of 15.0% from the June 30th total of 2,315,700 shares. Currently, 1.5% of the company’s shares are short sold. Based on an average daily trading volume, of 568,600 shares, the short-interest ratio is presently 3.5 days.

SEI Investments stock traded down $0.16 during trading on Thursday, hitting $55.52. The company had a trading volume of 232,898 shares, compared to its average volume of 660,275. SEI Investments has a 1-year low of $42.27 and a 1-year high of $64.21. The company has a current ratio of 5.78, a quick ratio of 5.61 and a debt-to-equity ratio of 0.02. The company’s 50 day simple moving average is $57.25 and its 200-day simple moving average is $53.97. The stock has a market cap of $8.38 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 1.47 and a beta of 1.31.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, July 24th. The asset manager reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.03. SEI Investments had a net margin of 29.85% and a return on equity of 29.86%. The firm had revenue of $409.60 million during the quarter, compared to the consensus estimate of $412.28 million. During the same quarter last year, the firm earned $0.75 EPS. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, analysts forecast that SEI Investments will post 3.22 earnings per share for the current fiscal year.



A number of analysts have recently issued reports on SEIC shares. ValuEngine upgraded shares of SEI Investments from a “sell” rating to a “hold” rating in a report on Tuesday, June 11th. Zacks Investment Research downgraded shares of SEI Investments from a “buy” rating to a “hold” rating and set a $63.00 price target for the company. in a report on Tuesday, June 11th. BidaskClub upgraded shares of SEI Investments from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 27th. Finally, William Blair restated a “market perform” rating on shares of SEI Investments in a report on Monday, April 22nd. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $61.50.

In other news, insider Dennis Mcgonigle sold 19,722 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $58.19, for a total transaction of $1,147,623.18. Following the completion of the sale, the insider now owns 587,262 shares in the company, valued at approximately $34,172,775.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sarah Blumenstein sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $58.25, for a total transaction of $291,250.00. Following the sale, the director now owns 10,681 shares of the company’s stock, valued at approximately $622,168.25. The disclosure for this sale can be found here. Insiders have sold a total of 34,222 shares of company stock valued at $2,017,423 in the last 90 days. Insiders own 22.60% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Confluence Investment Management LLC boosted its position in SEI Investments by 6.4% in the 1st quarter. Confluence Investment Management LLC now owns 333,970 shares of the asset manager’s stock valued at $17,450,000 after buying an additional 20,228 shares during the period. BTIM Corp. boosted its position in SEI Investments by 10.6% in the 2nd quarter. BTIM Corp. now owns 366,821 shares of the asset manager’s stock valued at $20,578,000 after buying an additional 35,283 shares during the period. Shell Asset Management Co. boosted its position in SEI Investments by 107.9% in the 1st quarter. Shell Asset Management Co. now owns 9,553 shares of the asset manager’s stock valued at $499,000 after buying an additional 4,959 shares during the period. FDx Advisors Inc. purchased a new position in SEI Investments in the 2nd quarter valued at approximately $362,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in SEI Investments in the 1st quarter valued at approximately $393,000. Hedge funds and other institutional investors own 69.65% of the company’s stock.

About SEI Investments

SEI Investments Company is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.

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