Brink's Company (The) (NYSE:BCO) Sees Large Drop in Short Interest

Key Points

• Brink's Company saw a significant decrease in short interest, dropping 24.7% to 851,200 shares as of July 31st, indicating a reduced bearish sentiment among investors.
• The company reported a quarterly earnings per share of $1.79, exceeding analysts' expectations and showing a revenue increase of 3.8% compared to the same period last year.
• Brink's announced a quarterly dividend of $0.255, translating to an annual yield of 0.9%, with the payout scheduled for September 2nd.

Brink's Company (The) (NYSE:BCO - Get Free Report) was the recipient of a large drop in short interest in July. As of July 31st, there was short interest totaling 851,200 shares, adropof24.7% from the July 15th total of 1,130,000 shares. Currently,2.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 334,000 shares, the days-to-cover ratio is currently 2.5 days. Based on an average daily trading volume, of 334,000 shares, the days-to-cover ratio is currently 2.5 days. Currently,2.1% of the shares of the stock are sold short.

Brink's Stock Down 0.8%

Shares of Brink's stock opened at $109.84 on Thursday. The company has a debt-to-equity ratio of 9.84, a quick ratio of 1.51 and a current ratio of 1.51. The stock has a market capitalization of $4.58 billion, a PE ratio of 29.69 and a beta of 1.46. Brink's has a 52-week low of $80.10 and a 52-week high of $115.91. The company has a 50-day simple moving average of $94.34 and a two-hundred day simple moving average of $90.29.

Brink's (NYSE:BCO - Get Free Report) last issued its earnings results on Wednesday, August 6th. The business services provider reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.36. The business had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.27 billion. Brink's had a net margin of 3.21% and a return on equity of 86.86%. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.67 earnings per share. On average, analysts anticipate that Brink's will post 6.49 EPS for the current fiscal year.

Brink's Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, July 28th will be issued a $0.255 dividend. The ex-dividend date of this dividend is Monday, July 28th. This represents a $1.02 annualized dividend and a yield of 0.9%. Brink's's payout ratio is 27.57%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Brink's from a "hold" rating to a "strong-buy" rating in a report on Sunday, August 10th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Brink's has an average rating of "Buy" and a consensus price target of $138.00.

Insider Activity at Brink's

In other news, insider Michael E. Sweeney sold 746 shares of the firm's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $115.00, for a total transaction of $85,790.00. Following the sale, the insider owned 7,785 shares in the company, valued at approximately $895,275. This trade represents a 8.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Keith R. Wyche sold 475 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $106.15, for a total transaction of $50,421.25. Following the sale, the director owned 3,682 shares in the company, valued at approximately $390,844.30. This trade represents a 11.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,058 shares of company stock worth $2,946,513. Corporate insiders own 0.49% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BCO. Raymond James Financial Inc. purchased a new position in shares of Brink's during the fourth quarter valued at approximately $8,257,000. Barclays PLC raised its holdings in shares of Brink's by 25.3% during the fourth quarter. Barclays PLC now owns 102,581 shares of the business services provider's stock valued at $9,516,000 after purchasing an additional 20,703 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Brink's during the fourth quarter valued at approximately $394,000. CANADA LIFE ASSURANCE Co raised its holdings in shares of Brink's by 0.4% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 39,207 shares of the business services provider's stock valued at $3,632,000 after purchasing an additional 142 shares during the last quarter. Finally, MetLife Investment Management LLC raised its holdings in shares of Brink's by 5.6% during the fourth quarter. MetLife Investment Management LLC now owns 50,244 shares of the business services provider's stock valued at $4,661,000 after purchasing an additional 2,668 shares during the last quarter. 94.96% of the stock is owned by hedge funds and other institutional investors.

About Brink's

The Brink's Co engages in providing cash management services, digital retail solutions, and ATM managed services. It operates through the following geographical segments: North America, Latin America, Europe, and Rest of World. The North America segment operates in the U.S. and Canada. The Latin America segment refers to the operations in Latin American countries.

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