Asta Funding, Inc. (NASDAQ:ASFI) Short Interest Up 11.9% in July

Asta Funding, Inc. (NASDAQ:ASFI) was the target of a significant growth in short interest during the month of July. As of July 15th, there was short interest totalling 4,700 shares, a growth of 11.9% from the June 30th total of 4,200 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average trading volume of 13,800 shares, the days-to-cover ratio is presently 0.3 days.

A hedge fund recently bought a new stake in Asta Funding stock. Advisor Group Holdings Inc. bought a new position in shares of Asta Funding, Inc. (NASDAQ:ASFI) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 9,110 shares of the business services provider’s stock, valued at approximately $75,000. Advisor Group Holdings Inc. owned about 0.14% of Asta Funding as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 15.57% of the company’s stock.

Shares of NASDAQ:ASFI opened at $12.97 on Friday. The company’s 50 day simple moving average is $12.38 and its 200 day simple moving average is $10.89. Asta Funding has a 1 year low of $6.51 and a 1 year high of $13.38.

Asta Funding (NASDAQ:ASFI) last announced its quarterly earnings data on Friday, May 29th. The business services provider reported ($0.01) earnings per share (EPS) for the quarter. The firm had revenue of $3.87 million during the quarter. Asta Funding had a net margin of 27.42% and a return on equity of 5.69%.

About Asta Funding

Asta Funding, Inc, together with its subsidiaries, primarily engages in the consumer receivables business in the United States, Puerto Rico, and South America. It operates through three segments: Consumer Receivables, Personal Injury Claims, and Social Security Disability Advocacy. The Consumer Receivables segment is involved in purchasing, managing, and servicing distressed consumer receivables, including judgment receivables, which are accounts where outside attorneys secure judgments directly against the consumer; charged-off receivables consisting of accounts that have been written-off by the originators and might have been previously serviced by collection agencies; and semi-performing receivables that are accounts where the debtor is currently making partial or irregular monthly payments, but the accounts might have been written-off by the originators.

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