BB Seguridade Participacoes SA (OTCMKTS:BBSEY) Sees Significant Decline in Short Interest

Key Points

• Short interest fell 59.3% to 64,163 shares as of August 31, down from 157,486 shares on August 15. Short positions represented approximately 0.0% of shares outstanding, with a days-to-cover ratio of 0.4.
• Analyst sentiment remains cautious: Itau BBA and Zacks Research upgraded the stock, while Citigroup downgraded it to “sell.” Overall, analysts rate BBSEY “Reduce,” with three Holds and one Sell.
• BB Seguridade exceeded quarterly expectations, reporting $0.25 in earnings per share versus a $0.21 estimate and revenue of $508.16 million versus $489.08 million expected. The stock opened at $7.76, with a market capitalization of approximately $15.07 billion.

BB Seguridade Participacoes SA (OTCMKTS:BBSEY - Get Free Report) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 64,163 shares, a drop of 59.3% from the August 15th total of 157,486 shares. Based on an average daily volume of 146,959 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.0% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

BBSEY has been the subject of a number of research reports. Itau BBA Securities raised BB Seguridade Participacoes from an "underperform" rating to a "market perform" rating in a report on Tuesday, June 16th. Zacks Research upgraded shares of BB Seguridade Participacoes from a "strong sell" rating to a "hold" rating in a report on Monday, August 17th. Finally, Citigroup lowered shares of BB Seguridade Participacoes to a "sell" rating in a research report on Friday. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, BB Seguridade Participacoes has an average rating of "Reduce".

BB Seguridade Participacoes Stock Performance

OTCMKTS:BBSEY opened at $7.76 on Friday. BB Seguridade Participacoes has a one year low of $5.89 and a one year high of $8.57. The firm has a market cap of $15.07 billion, a price-to-earnings ratio of 8.62 and a beta of 0.38. The firm's fifty day moving average is $7.90 and its two-hundred day moving average is $7.34.

BB Seguridade Participacoes (OTCMKTS:BBSEY - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.04. The company had revenue of $508.16 million for the quarter, compared to the consensus estimate of $489.08 million. BB Seguridade Participacoes had a return on equity of 79.22% and a net margin of 87.94%. As a group, equities research analysts predict that BB Seguridade Participacoes will post 0.87 earnings per share for the current fiscal year.

BB Seguridade Participacoes Company Profile

BB Seguridade Participações SA is a Brazilian holding company focused on insurance, brokerage, private pension, capitalization and related financial protection products. The company operates primarily through subsidiaries that develop and distribute insurance and other financial products to individuals, businesses and rural customers.

Its principal businesses include Brasilseg, which provides property, life, rural, credit and other insurance products, and BB Corretora, which brokers insurance, private pension and capitalization products.

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