Short Interest in Investors Title (NASDAQ:ITIC) Rises By 8.3%

Investors Title (NASDAQ:ITIC) was the target of a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 11,800 shares, a growth of 8.3% from the June 30th total of 10,900 shares. Based on an average daily volume of 2,500 shares, the short-interest ratio is presently 4.7 days. Approximately 0.9% of the shares of the company are short sold.

Separately, BidaskClub cut Investors Title from a “sell” rating to a “strong sell” rating in a research report on Friday.

Shares of NASDAQ ITIC traded down $1.45 during trading hours on Friday, hitting $140.09. 5,000 shares of the company’s stock were exchanged, compared to its average volume of 3,424. Investors Title has a 1-year low of $139.20 and a 1-year high of $199.68. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.16 and a quick ratio of 1.15. The stock has a market capitalization of $280.53 million, a price-to-earnings ratio of 12.31 and a beta of 0.54. The company’s 50-day moving average price is $160.70 and its 200-day moving average price is $163.21.



The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, August 30th. This represents a $1.60 annualized dividend and a yield of 1.14%.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its stake in Investors Title by 1.4% during the fourth quarter. Bank of New York Mellon Corp now owns 7,490 shares of the insurance provider’s stock valued at $1,323,000 after acquiring an additional 103 shares during the period. Bank of Montreal Can increased its stake in Investors Title by 20.1% during the second quarter. Bank of Montreal Can now owns 848 shares of the insurance provider’s stock valued at $142,000 after acquiring an additional 142 shares during the period. Bank of America Corp DE increased its stake in Investors Title by 2.5% during the fourth quarter. Bank of America Corp DE now owns 6,152 shares of the insurance provider’s stock valued at $1,088,000 after acquiring an additional 152 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Investors Title by 5.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 3,294 shares of the insurance provider’s stock valued at $551,000 after acquiring an additional 178 shares during the period. Finally, Strs Ohio increased its stake in Investors Title by 6.7% during the second quarter. Strs Ohio now owns 3,200 shares of the insurance provider’s stock valued at $534,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 42.09% of the company’s stock.

About Investors Title

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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