Investors Title (NASDAQ:ITIC) Sees Large Increase in Short Interest

31 Oct 2024, 17:58 by Teresa Graham · The Cerbat Gem

Investors Title (NASDAQ:ITIC – Get Free Report) saw a significant growth in short interest in October. As of October 15th, there was short interest totalling 18,600 shares, a growth of 12.0% from the September 30th total of 16,600 shares. Approximately 1.3% of the company’s stock are short sold. Based on an average daily volume of 17,400 shares, the short-interest ratio is currently 1.1 days.

Institutional Investors Weigh In On Investors Title

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Investors Title by 0.9% in the first quarter. Vanguard Group Inc. now owns 67,743 shares of the insurance provider’s stock worth $11,055,000 after acquiring an additional 591 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Investors Title by 6.0% in the second quarter. Bank of New York Mellon Corp now owns 12,607 shares of the insurance provider’s stock worth $2,271,000 after purchasing an additional 710 shares in the last quarter. Aristides Capital LLC acquired a new position in Investors Title during the first quarter worth $1,648,000. Empowered Funds LLC raised its holdings in Investors Title by 4.2% during the first quarter. Empowered Funds LLC now owns 4,302 shares of the insurance provider’s stock valued at $702,000 after buying an additional 175 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Investors Title by 27.0% in the second quarter. American Century Companies Inc. now owns 3,774 shares of the insurance provider’s stock worth $680,000 after buying an additional 803 shares during the last quarter. Institutional investors own 41.40% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Investors Title from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th.

Read Our Latest Stock Report on ITIC

Investors Title Stock Performance

Shares of ITIC stock traded down $4.98 during trading on Thursday, hitting $231.28. 11,517 shares of the company were exchanged, compared to its average volume of 10,461. The business’s 50-day simple moving average is $228.11 and its 200 day simple moving average is $196.34. Investors Title has a twelve month low of $136.56 and a twelve month high of $243.74. The firm has a market capitalization of $435.73 million, a price-to-earnings ratio of 17.95 and a beta of 0.85.

Investors Title (NASDAQ:ITIC – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The insurance provider reported $4.70 EPS for the quarter. Investors Title had a net margin of 11.25% and a return on equity of 10.32%. The business had revenue of $65.38 million for the quarter.

Investors Title Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.84 annualized dividend and a dividend yield of 0.80%. Investors Title’s dividend payout ratio is 13.90%.

About Investors Title

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