Nordstrom, Inc. (NYSE:JWN) Short Interest Up 114.1% in April

Nordstrom, Inc. (NYSE:JWN - Get Free Report) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 16,250,000 shares, a growth of 114.1% from the March 31st total of 7,590,000 shares. Based on an average daily trading volume, of 2,940,000 shares, the short-interest ratio is presently 5.5 days. Currently, 17.2% of the company's shares are sold short.

Hedge Funds Weigh In On Nordstrom

A number of large investors have recently bought and sold shares of the company. Versant Capital Management Inc boosted its position in Nordstrom by 40.9% during the 1st quarter. Versant Capital Management Inc now owns 1,618 shares of the specialty retailer's stock worth $40,000 after acquiring an additional 470 shares during the last quarter. Retirement Systems of Alabama boosted its position in Nordstrom by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 117,801 shares of the specialty retailer's stock worth $2,845,000 after acquiring an additional 512 shares during the last quarter. Parallel Advisors LLC boosted its position in Nordstrom by 48.6% during the 1st quarter. Parallel Advisors LLC now owns 1,690 shares of the specialty retailer's stock worth $41,000 after acquiring an additional 553 shares during the last quarter. Freestone Capital Holdings LLC boosted its position in Nordstrom by 3.0% during the 4th quarter. Freestone Capital Holdings LLC now owns 19,252 shares of the specialty retailer's stock worth $465,000 after acquiring an additional 558 shares during the last quarter. Finally, SummerHaven Investment Management LLC boosted its position in Nordstrom by 1.7% during the 1st quarter. SummerHaven Investment Management LLC now owns 34,985 shares of the specialty retailer's stock worth $855,000 after acquiring an additional 594 shares during the last quarter. Institutional investors and hedge funds own 88.73% of the company's stock.

Nordstrom Stock Up 0.1 %

NYSE JWN traded up $0.02 during trading hours on Monday, reaching $24.17. 1,865,151 shares of the company's stock were exchanged, compared to its average volume of 2,604,544. The company's 50-day moving average is $24.13 and its two-hundred day moving average is $23.82. Nordstrom has a one year low of $18.57 and a one year high of $24.99. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of 15.40 and a beta of 2.31.

Nordstrom (NYSE:JWN - Get Free Report) last posted its earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.20. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The business had revenue of $4.32 billion during the quarter, compared to analysts' expectations of $4.32 billion. On average, analysts forecast that Nordstrom will post 1.97 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. StockNews.com assumed coverage on Nordstrom in a research report on Thursday. They issued a "buy" rating on the stock. UBS Group upgraded Nordstrom from a "sell" rating to a "neutral" rating and increased their price objective for the company from $14.50 to $24.00 in a research report on Friday, January 10th. Argus cut Nordstrom from a "buy" rating to a "sell" rating in a research note on Monday, December 30th. Barclays increased their target price on Nordstrom from $23.00 to $24.00 and gave the company an "equal weight" rating in a research note on Thursday, January 16th. Finally, Evercore ISI boosted their target price on Nordstrom from $22.00 to $24.00 and gave the stock an "in-line" rating in a research report on Monday, January 13th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $22.80.

Nordstrom Company Profile

Nordstrom, Inc, a fashion retailer, provides apparels, shoes, beauty, accessories, and home goods for women, men, young adults, and children. It offers a range of brand-name and private-label merchandise through various channels, such as Nordstrom branded stores and online at Nordstrom.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; ASOS; Nordstromrack.com; mobile application; and clearance stores under the Last Chance name.

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