Genworth Financial, Inc. (NYSE:GNW) Short Interest Down 33.4% in August

Key Points

• Short interest in Genworth Financial decreased by 33.4% in August, dropping from 8,350,000 shares to 5,560,000 shares.
• During its latest quarterly earnings report, Genworth Financial recorded $0.16 earnings per share, surpassing the consensus estimate of $0.05.
• CEO Rohit Gupta sold 86,406 shares of the company at an average price of $8.68, resulting in a 9.81% decrease in his ownership position.

Genworth Financial, Inc. (NYSE:GNW - Get Free Report) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 5,560,000 shares, a drop of 33.4% from the August 15th total of 8,350,000 shares. Based on an average trading volume of 6,140,000 shares, the short-interest ratio is currently 0.9 days. Approximately 1.4% of the shares of the stock are sold short. Approximately 1.4% of the shares of the stock are sold short. Based on an average trading volume of 6,140,000 shares, the short-interest ratio is currently 0.9 days.

Genworth Financial Trading Down 0.1%

Shares of GNW opened at $8.80 on Monday. The stock has a fifty day moving average of $8.13 and a two-hundred day moving average of $7.38. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market capitalization of $3.61 billion, a PE ratio of 19.56 and a beta of 0.94. Genworth Financial has a fifty-two week low of $5.99 and a fifty-two week high of $8.85.

Genworth Financial (NYSE:GNW - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.11. Genworth Financial had a return on equity of 1.91% and a net margin of 2.61%.The company had revenue of $1.80 billion during the quarter.

Insider Activity

In other news, CEO Rohit Gupta sold 86,406 shares of Genworth Financial stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $8.68, for a total transaction of $750,004.08. Following the completion of the sale, the chief executive officer directly owned 794,630 shares in the company, valued at approximately $6,897,388.40. This trade represents a 9.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.80% of the company's stock.

Hedge Funds Weigh In On Genworth Financial

Hedge funds and other institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC acquired a new position in shares of Genworth Financial during the 2nd quarter valued at $44,000. Byrne Asset Management LLC lifted its holdings in shares of Genworth Financial by 69.5% during the 1st quarter. Byrne Asset Management LLC now owns 7,595 shares of the financial services provider's stock valued at $54,000 after acquiring an additional 3,115 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Genworth Financial by 140.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,063 shares of the financial services provider's stock valued at $63,000 after acquiring an additional 4,708 shares in the last quarter. Blueshift Asset Management LLC acquired a new position in shares of Genworth Financial during the 1st quarter valued at $71,000. Finally, Seven Mile Advisory acquired a new position in shares of Genworth Financial during the 2nd quarter valued at $78,000. Institutional investors and hedge funds own 81.85% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on GNW shares. Keefe, Bruyette & Woods raised their price objective on shares of Genworth Financial from $9.00 to $9.50 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Wall Street Zen cut shares of Genworth Financial from a "hold" rating to a "sell" rating in a research note on Sunday, September 7th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $9.50.

Genworth Financial Company Profile

Genworth Financial, Inc, together with its subsidiaries, provides mortgage and long-term care insurance products in the United States and internationally. It operates in three segments: Enact, Long-Term Care Insurance, and Life and Annuities. The Enact segment offers private mortgage insurance products primarily insuring prime-based, individually underwritten residential mortgage loans; and pool mortgage insurance products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.