Short Interest in Clearwater Paper Corporation (NYSE:CLW) Decreases By 19.9%

Key Points

• Short interest in Clearwater Paper Corporation (NYSE:CLW) decreased by 19.9% in August, totaling 448,000 shares, which represents 2.9% of the stock currently short sold.
• Several analysts downgraded Clearwater Paper’s stock, with Wall Street Zen moving it from a "hold" to a "sell" rating and Royal Bank of Canada lowering the target price from $37.00 to $36.00.
• Clearwater Paper reported an earnings miss with $0.22 EPS for the quarter, significantly below the predicted $0.73 EPS, and revenue fell short of expectations at $391.80 million.

Clearwater Paper Corporation (NYSE:CLW - Get Free Report) saw a large drop in short interest in the month of August. As of August 15th, there was short interest totaling 448,000 shares, adropof19.9% from the July 31st total of 559,500 shares. Currently,2.9% of the shares of the stock are short sold. Based on an average daily volume of 214,400 shares, the days-to-cover ratio is currently 2.1 days. Based on an average daily volume of 214,400 shares, the days-to-cover ratio is currently 2.1 days. Currently,2.9% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CLW shares. Wall Street Zen downgraded Clearwater Paper from a "hold" rating to a "sell" rating in a research note on Sunday. Royal Bank Of Canada decreased their target price on Clearwater Paper from $37.00 to $36.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $36.00.

Clearwater Paper Price Performance

NYSE:CLW traded down $0.68 during trading hours on Tuesday, reaching $21.34. The stock had a trading volume of 89,661 shares, compared to its average volume of 253,286. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.87 and a current ratio of 1.97. Clearwater Paper has a 52 week low of $20.84 and a 52 week high of $33.56. The company has a 50 day moving average price of $25.12 and a two-hundred day moving average price of $25.95. The stock has a market capitalization of $343.57 million, a PE ratio of 1.77 and a beta of 0.12.

Clearwater Paper (NYSE:CLW - Get Free Report) last announced its earnings results on Tuesday, July 29th. The basic materials company reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.51). The company had revenue of $391.80 million during the quarter, compared to analysts' expectations of $397.00 million. Clearwater Paper had a negative return on equity of 4.11% and a net margin of 12.98%.

Hedge Funds Weigh In On Clearwater Paper

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Clearwater Paper by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 1,142,392 shares of the basic materials company's stock worth $28,982,000 after purchasing an additional 20,936 shares during the period. Nuveen LLC purchased a new position in shares of Clearwater Paper in the 1st quarter worth approximately $15,314,000. Readystate Asset Management LP boosted its holdings in shares of Clearwater Paper by 56.7% in the 1st quarter. Readystate Asset Management LP now owns 580,856 shares of the basic materials company's stock worth $14,736,000 after purchasing an additional 210,141 shares during the period. Millennium Management LLC boosted its holdings in shares of Clearwater Paper by 1,102.7% in the 4th quarter. Millennium Management LLC now owns 429,264 shares of the basic materials company's stock worth $12,779,000 after purchasing an additional 393,572 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its holdings in Clearwater Paper by 101.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 388,339 shares of the basic materials company's stock valued at $11,561,000 after acquiring an additional 195,487 shares during the period. Hedge funds and other institutional investors own 89.98% of the company's stock.

About Clearwater Paper

Clearwater Paper Corporation manufactures and supplies bleached paperboards, and consumer and parent roll tissues in the United States and internationally. It operates through Pulp and Paperboard, and Consumer Products segments. The Pulp and Paperboard segment manufactures and markets bleached paperboard; Solid Bleached Sulfate paperboard that is used to produce folding cartons, liquid packaging, cups and plates, blister and carded packaging, and top sheet and commercial printing items; and hardwood and softwood pulp, as well as offers services that include custom sheeting, slitting, and cutting.

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