Short Interest in Franklin Covey Company (NYSE:FC) Declines By 43.5%

Key Points

• Short interest plunged 43.5% in April to 1,105,226 shares (11.6% of the float), with a days-to-cover ratio of 2.7 based on average daily volume.
• Analysts are mixed—two Buy ratings and one Sell leave a consensus rating of "Hold" with a $26.00 target; Barrington reiterated an Outperform with a $25 target while Weiss Ratings maintained a Sell.
• Shares traded down to $21.25 (down ~1.7%) with a market cap of about $239.5M; the company reported an EPS miss for the quarter (‑$0.03 vs. $0.03 est.) despite revenue slightly above estimates and a negative P/E ratio.

Franklin Covey Company (NYSE:FC - Get Free Report) was the target of a significant decline in short interest during the month of April. As of April 15th, there was short interest totaling 1,105,226 shares, a decline of 43.5% from the March 31st total of 1,954,561 shares. Based on an average daily volume of 405,819 shares, the days-to-cover ratio is currently 2.7 days. Currently, 11.6% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on FC shares. Barrington Research restated an "outperform" rating and issued a $25.00 price objective on shares of Franklin Covey in a report on Thursday, April 2nd. Weiss Ratings restated a "sell (d)" rating on shares of Franklin Covey in a report on Friday, April 10th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $26.00.

Franklin Covey Trading Down 1.7%

Shares of FC traded down $0.36 during mid-day trading on Monday, reaching $21.25. The company's stock had a trading volume of 81,342 shares, compared to its average volume of 238,627. The stock has a market cap of $239.52 million, a PE ratio of -101.20, a P/E/G ratio of 1.36 and a beta of 0.58. Franklin Covey has a 52 week low of $11.16 and a 52 week high of $24.70. The company's fifty day moving average price is $16.87 and its two-hundred day moving average price is $17.31.

Franklin Covey (NYSE:FC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 1st. The business services provider reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.06). The business had revenue of $59.65 million during the quarter, compared to the consensus estimate of $58.71 million. Franklin Covey had a positive return on equity of 12.79% and a negative net margin of 0.88%. Research analysts anticipate that Franklin Covey will post 0.8 EPS for the current year.

Institutional Investors Weigh In On Franklin Covey

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FC. Alliancebernstein L.P. raised its holdings in Franklin Covey by 70.4% during the 3rd quarter. Alliancebernstein L.P. now owns 1,052,680 shares of the business services provider's stock valued at $20,433,000 after buying an additional 434,965 shares during the last quarter. Millennium Management LLC raised its holdings in Franklin Covey by 886.1% during the 3rd quarter. Millennium Management LLC now owns 259,618 shares of the business services provider's stock valued at $5,039,000 after buying an additional 233,291 shares during the last quarter. Federated Hermes Inc. raised its holdings in Franklin Covey by 83.9% during the 4th quarter. Federated Hermes Inc. now owns 376,393 shares of the business services provider's stock valued at $6,316,000 after buying an additional 171,744 shares during the last quarter. Bridgeway Capital Management LLC bought a new stake in Franklin Covey during the 3rd quarter valued at $2,275,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Franklin Covey by 122.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 174,324 shares of the business services provider's stock valued at $3,384,000 after buying an additional 96,054 shares during the last quarter. 69.88% of the stock is currently owned by institutional investors.

About Franklin Covey

Franklin Covey Co NYSE: FC is a global consulting and training firm specializing in performance improvement solutions for individuals and organizations. The company offers a range of services, including leadership development, productivity tools, execution frameworks and assessments designed to foster personal effectiveness and drive business results. Its flagship offerings integrate training workshops, digital resources and coaching to support clients in areas such as strategic planning, team productivity and change management.

The origins of Franklin Covey trace back to the merger in 1997 of Franklin Quest Co, founded in 1983 by Hyrum W.

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