BB Seguridade Participacoes SA (OTCMKTS:BBSEY) Sees Large Drop in Short Interest

Key Points

• Short interest plunged 73.5% to 135,623 shares as of July 31, down from 511,100 shares two weeks earlier. Short interest represents 0.0% of shares outstanding, with a days-to-cover ratio of 0.4.
• Analyst sentiment remains cautious: Zacks Research downgraded the stock to “strong sell,” while Itau BBA raised it to “market perform.” Overall, BB Seguridade has an average “Reduce” rating.
• The company exceeded quarterly expectations, reporting $0.25 in EPS versus a $0.21 consensus estimate and revenue of $508.16 million versus $489.08 million expected.

BB Seguridade Participacoes SA (OTCMKTS:BBSEY - Get Free Report) was the target of a large decline in short interest in July. As of July 31st, there was short interest totaling 135,623 shares, a decline of 73.5% from the July 15th total of 511,100 shares. Based on an average daily volume of 359,177 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.0% of the shares of the stock are short sold.

Analyst Ratings Changes

A number of brokerages recently weighed in on BBSEY. Zacks Research cut shares of BB Seguridade Participacoes from a "hold" rating to a "strong sell" rating in a report on Friday, July 17th. Itau BBA Securities raised BB Seguridade Participacoes from an "underperform" rating to a "market perform" rating in a report on Tuesday, June 16th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Reduce".

BB Seguridade Participacoes Price Performance

Shares of BBSEY opened at $7.79 on Thursday. The company has a 50-day moving average of $7.79 and a two-hundred day moving average of $7.27. The stock has a market cap of $15.12 billion, a price-to-earnings ratio of 8.66 and a beta of 0.36. BB Seguridade Participacoes has a one year low of $5.80 and a one year high of $8.57.

BB Seguridade Participacoes (OTCMKTS:BBSEY - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.21 by $0.04. BB Seguridade Participacoes had a net margin of 87.94% and a return on equity of 78.75%. The business had revenue of $508.16 million during the quarter, compared to the consensus estimate of $489.08 million. Analysts anticipate that BB Seguridade Participacoes will post 0.87 earnings per share for the current year.

BB Seguridade Participacoes Company Profile

BB Seguridade Participações SA is a leading Brazilian insurance and pension holding company, primarily focused on the design, underwriting and distribution of risk protection and retirement solutions. As a publicly traded subsidiary of Banco do Brasil, BB Seguridade operates through a network of specialized businesses that serve both individual and institutional clients across Brazil.

The company’s main offerings are delivered via its core subsidiaries: Brasilprev (private pension and savings plans), BB Mapfre (property & casualty insurance), Brasilveículos (auto warranty and mechanical protection), Brasilcap (surety bonds) and BB Seguros (life, rural and personal accident insurance).

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