Short Interest in Sprott Inc. (NYSE:SII) Expands By 51.6%

Key Points

• Short interest in Sprott Inc. (NYSE:SII) increased by 51.6% in September, reaching 564,100 shares.
• Institutional investors hold 28.30% of Sprott's stock, with significant investments during the second quarter from various firms.
• The stock received a mixed rating from analysts, with a downgrade from TD Securities to a "hold" and a "buy" reissue from Weiss Ratings.

Sprott Inc. (NYSE:SII - Get Free Report) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 564,100 shares, an increase of 51.6% from the September 15th total of 372,100 shares. Approximately 2.6% of the company's stock are sold short. Based on an average daily trading volume, of 192,500 shares, the days-to-cover ratio is presently 2.9 days. Based on an average daily trading volume, of 192,500 shares, the days-to-cover ratio is presently 2.9 days. Approximately 2.6% of the company's stock are sold short.

Institutional Investors Weigh In On Sprott

A number of institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its position in shares of Sprott by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 15,351 shares of the company's stock valued at $1,056,000 after acquiring an additional 225 shares during the period. Allworth Financial LP bought a new stake in shares of Sprott in the second quarter valued at about $28,000. Stonehage Fleming Financial Services Holdings Ltd boosted its position in shares of Sprott by 34.1% in the second quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,599 shares of the company's stock valued at $110,000 after acquiring an additional 407 shares during the period. Essex Financial Services Inc. boosted its position in shares of Sprott by 9.2% in the first quarter. Essex Financial Services Inc. now owns 5,678 shares of the company's stock valued at $255,000 after acquiring an additional 477 shares during the period. Finally, Osaic Holdings Inc. boosted its position in shares of Sprott by 5.9% in the second quarter. Osaic Holdings Inc. now owns 10,449 shares of the company's stock valued at $721,000 after acquiring an additional 579 shares during the period. Institutional investors own 28.30% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. TD Securities downgraded Sprott from a "buy" rating to a "hold" rating in a report on Tuesday, July 22nd. Weiss Ratings reissued a "buy (b)" rating on shares of Sprott in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy".

Sprott Price Performance

SII stock opened at $82.29 on Wednesday. The company has a fifty day moving average price of $74.16 and a two-hundred day moving average price of $65.36. Sprott has a one year low of $39.33 and a one year high of $89.58. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 42.63 and a beta of 0.99.

Sprott (NYSE:SII - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.14. Sprott had a net margin of 25.21% and a return on equity of 15.04%. The firm had revenue of $41.97 million during the quarter, compared to analysts' expectations of $44.66 million.

Sprott Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a dividend of $0.30 per share. The ex-dividend date was Monday, August 18th. This represents a $1.20 annualized dividend and a yield of 1.5%. Sprott's dividend payout ratio (DPR) is presently 62.18%.

Sprott Company Profile

Sprott Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides asset management, portfolio management, wealth management, fund management, and administrative and consulting services to its clients. It offers mutual funds, hedge funds, and offshore funds, along with managed accounts.

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