CSS Industries Inc (NYSE:CSS) Short Interest Up 158.0% in October

CSS Industries Inc (NYSE:CSS) was the recipient of a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 33,800 shares, a growth of 158.0% from the September 30th total of 13,100 shares. Based on an average daily volume of 21,500 shares, the days-to-cover ratio is currently 1.6 days. Approximately 0.4% of the company’s shares are sold short.

Shares of CSS traded down $0.10 during mid-day trading on Wednesday, reaching $4.54. The stock had a trading volume of 20,660 shares, compared to its average volume of 34,065. The company has a current ratio of 1.66, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23. CSS Industries has a 52-week low of $3.54 and a 52-week high of $12.38. The business’s fifty day moving average is $4.38 and its 200 day moving average is $4.89.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Morgan Stanley grew its holdings in shares of CSS Industries by 32.9% in the second quarter. Morgan Stanley now owns 17,491 shares of the specialty retailer’s stock valued at $86,000 after purchasing an additional 4,332 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in shares of CSS Industries by 9.0% in the second quarter. Jacobs Levy Equity Management Inc. now owns 46,366 shares of the specialty retailer’s stock valued at $226,000 after purchasing an additional 3,841 shares during the period. Bank of New York Mellon Corp boosted its stake in CSS Industries by 12.6% during the second quarter. Bank of New York Mellon Corp now owns 70,171 shares of the specialty retailer’s stock worth $342,000 after buying an additional 7,850 shares during the period. BlackRock Inc. boosted its stake in CSS Industries by 1.1% during the second quarter. BlackRock Inc. now owns 201,075 shares of the specialty retailer’s stock worth $980,000 after buying an additional 2,267 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in CSS Industries by 15.4% during the second quarter. Renaissance Technologies LLC now owns 272,019 shares of the specialty retailer’s stock worth $1,327,000 after buying an additional 36,349 shares during the period. 61.27% of the stock is owned by hedge funds and other institutional investors.

Separately, ValuEngine raised shares of CSS Industries from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd.

About CSS Industries

CSS Industries, Inc, a consumer products company, designs, manufactures, procures, distributes, and sells seasonal, gift, and craft products principally to mass market retailers in the United States and Canada. Its craft and gift consumer products include craft ribbons and bows, trims, buttons, sewing patterns, knitting needles, needle arts, kids' crafts, infant products, journals, gift card holders, all occasion boxed greeting cards, memory books, scrapbooks, stationery, stickers, and other gift and craft items, as well as floral accessories, including pot covers, foil, waxed tissue, shred, aisle runners, corsage bags, and other paper and film products.

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