Short Interest in Genworth Financial, Inc. (NYSE:GNW) Drops By 33.4%

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 decline in short interest in August. As of August 31st, there was short interest totaling 5,560,000 shares, a decline 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 company's stock are sold short. Approximately 1.4% of the company's stock are sold short. Based on an average trading volume of 6,140,000 shares, the short-interest ratio is currently 0.9 days.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Genworth Financial

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

Hedge Funds Weigh In On Genworth Financial

A number of hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in shares of Genworth Financial by 2.7% during the first quarter. Principal Financial Group Inc. now owns 2,126,240 shares of the financial services provider's stock worth $15,075,000 after acquiring an additional 55,085 shares during the last quarter. Caxton Associates LLP acquired a new position in Genworth Financial during the 1st quarter valued at about $3,990,000. GAMMA Investing LLC lifted its stake in shares of Genworth Financial by 494.7% during the first quarter. GAMMA Investing LLC now owns 64,455 shares of the financial services provider's stock worth $457,000 after buying an additional 53,617 shares during the period. Handelsbanken Fonder AB increased its holdings in Genworth Financial by 56.0% in the 1st quarter. Handelsbanken Fonder AB now owns 112,490 shares of the financial services provider's stock worth $798,000 after buying an additional 40,400 shares during the period. Finally, Deutsche Bank AG lifted its holdings in shares of Genworth Financial by 34.1% in the 4th quarter. Deutsche Bank AG now owns 430,853 shares of the financial services provider's stock valued at $3,012,000 after buying an additional 109,570 shares during the period. Institutional investors own 81.85% of the company's stock.

Genworth Financial Stock Performance

NYSE GNW traded up $0.31 on Friday, hitting $9.01. 11,650,249 shares of the stock were exchanged, compared to its average volume of 3,687,466. The business's fifty day moving average is $8.24 and its 200 day moving average is $7.44. The company has a market capitalization of $3.70 billion, a PE ratio of 20.02 and a beta of 0.94. Genworth Financial has a 52 week low of $5.99 and a 52 week high of $9.06. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.29 and a quick ratio of 0.29.

Genworth Financial (NYSE:GNW - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.16 EPS for the quarter, beating analysts' consensus estimates 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.

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.