Investors Title (NASDAQ:ITIC) was the target of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 10,600 shares, a decrease of 11.7% from the September 30th total of 12,000 shares. Based on an average daily volume of 6,200 shares, the days-to-cover ratio is presently 1.7 days. Currently, 0.8% of the company’s shares are sold short.
A number of research firms have recently weighed in on ITIC. BidaskClub upgraded Investors Title from a “sell” rating to a “hold” rating in a report on Friday, November 8th. ValuEngine upgraded Investors Title from a “hold” rating to a “buy” rating in a report on Thursday, October 31st.
ITIC traded down $0.26 during mid-day trading on Monday, hitting $163.90. 116 shares of the stock were exchanged, compared to its average volume of 8,606. The firm’s fifty day moving average is $163.49 and its two-hundred day moving average is $159.26. Investors Title has a 1-year low of $134.04 and a 1-year high of $198.50. The company has a current ratio of 1.32, a quick ratio of 1.16 and a debt-to-equity ratio of 0.02. The company has a market cap of $307.48 million, a PE ratio of 15.27 and a beta of 0.58.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can lifted its stake in Investors Title by 20.1% during the 2nd quarter. Bank of Montreal Can now owns 848 shares of the insurance provider’s stock worth $142,000 after acquiring an additional 142 shares in the last quarter. Colony Group LLC acquired a new position in Investors Title during the 2nd quarter worth about $236,000. Rhumbline Advisers lifted its stake in Investors Title by 9.6% during the 3rd quarter. Rhumbline Advisers now owns 2,183 shares of the insurance provider’s stock worth $349,000 after acquiring an additional 192 shares in the last quarter. First Trust Advisors LP lifted its stake in Investors Title by 32.4% during the 3rd quarter. First Trust Advisors LP now owns 3,214 shares of the insurance provider’s stock worth $515,000 after acquiring an additional 786 shares in the last quarter. Finally, Strs Ohio lifted its stake in Investors Title by 6.7% during the 2nd quarter. Strs Ohio now owns 3,200 shares of the insurance provider’s stock worth $534,000 after acquiring an additional 200 shares in the last quarter. 42.04% of the stock is currently owned by hedge funds and other institutional investors.
Investors Title Company Profile
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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