Persimmon Plc (OTCMKTS:PSMMY) Short Interest Up 49.1% in July

Key Points

• Short interest in Persimmon Plc rose by 49.1% in July, increasing from 5,700 shares to 8,500 shares as of July 31st.
• The company announced a new dividend of $0.9997 per share, significantly higher than the previous $0.48, yielding 394.0%.
• Persimmon received favorable upgrades from multiple analysts, with Royal Bank of Canada changing its rating from "strong sell" to "hold" and Kepler Capital Markets upgrading to "strong-buy".

Persimmon Plc (OTCMKTS:PSMMY - Get Free Report) was the recipient of a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 8,500 shares, anincreaseof49.1% from the July 15th total of 5,700 shares. Currently,0.0% of the company's stock are short sold. Based on an average daily volume of 16,400 shares, the short-interest ratio is presently 0.5 days. Based on an average daily volume of 16,400 shares, the short-interest ratio is presently 0.5 days. Currently,0.0% of the company's stock are short sold.

Persimmon Trading Up 3.8%

OTCMKTS:PSMMY traded up $1.14 on Friday, hitting $30.82. 5,409 shares of the company's stock were exchanged, compared to its average volume of 7,867. The firm has a 50-day moving average price of $32.90 and a 200-day moving average price of $32.87. Persimmon has a 52 week low of $25.47 and a 52 week high of $45.60.

Persimmon Increases Dividend

The business also recently announced a dividend, which was paid on Monday, July 28th. Investors of record on Monday, June 23rd were issued a dividend of $0.9997 per share. The ex-dividend date was Friday, June 20th. This is a boost from Persimmon's previous dividend of $0.48. This represents a yield of 394.0%.

Analysts Set New Price Targets

PSMMY has been the topic of several recent research reports. Morgan Stanley reissued an "overweight" rating on shares of Persimmon in a research note on Tuesday, May 6th. Citigroup reiterated a "buy" rating on shares of Persimmon in a report on Thursday, August 14th. Royal Bank Of Canada raised Persimmon from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 9th. Finally, Kepler Capital Markets upgraded Persimmon to a "strong-buy" rating in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Persimmon currently has a consensus rating of "Buy".

About Persimmon

Persimmon Plc, together with its subsidiaries, operates as a house builder in the United Kingdom. The company offers family housing under the Persimmon Homes brand name; housing under the Charles Church brand name; and social housing under the Westbury Partnerships brand name. It also provides broadband services under the FibreNest brand; and timber frame, insulated wall panels, and roof cassettes under the brand Space4.