Short Interest in Ultrapar Participacoes S.A. (NYSE:UGP) Increases By 850.2%

Key Points

• Short interest in Ultrapar Participacoes S.A. increased by 850.2% in July, reaching a total of 6,680,000 shares.
• Institutional investors have notably increased their holdings, with CWM LLC boosting its position by 55.6% in the first quarter.
• Analysts have mixed opinions on the stock, with ratings ranging from "hold" to "strong-buy," and a current average target price of $3.20.

Ultrapar Participacoes S.A. (NYSE:UGP - Get Free Report) was the target of a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 6,680,000 shares, anincreaseof850.2% from the June 30th total of 703,000 shares. Currently,0.6% of the company's shares are sold short. Based on an average daily trading volume, of 2,060,000 shares, the short-interest ratio is presently 3.2 days. Based on an average daily trading volume, of 2,060,000 shares, the short-interest ratio is presently 3.2 days. Currently,0.6% of the company's shares are sold short.

Institutional Trading of Ultrapar Participacoes

Several institutional investors and hedge funds have recently modified their holdings of the business. Sequoia Financial Advisors LLC increased its position in Ultrapar Participacoes by 61.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 52,395 shares of the oil and gas company's stock valued at $161,000 after acquiring an additional 19,918 shares during the period. GAMMA Investing LLC increased its stake in shares of Ultrapar Participacoes by 92.9% in the first quarter. GAMMA Investing LLC now owns 17,413 shares of the oil and gas company's stock valued at $54,000 after buying an additional 8,388 shares during the period. Jane Street Group LLC lifted its stake in shares of Ultrapar Participacoes by 200.9% in the fourth quarter. Jane Street Group LLC now owns 146,591 shares of the oil and gas company's stock worth $386,000 after acquiring an additional 97,879 shares during the period. Bank of America Corp DE increased its position in Ultrapar Participacoes by 33.5% during the 4th quarter. Bank of America Corp DE now owns 986,220 shares of the oil and gas company's stock valued at $2,594,000 after purchasing an additional 247,755 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Ultrapar Participacoes by 763.8% during the 4th quarter. JPMorgan Chase & Co. now owns 1,374,747 shares of the oil and gas company's stock worth $3,616,000 after purchasing an additional 1,215,605 shares during the last quarter. 3.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on UGP shares. Scotiabank raised Ultrapar Participacoes from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 28th. Wall Street Zen cut shares of Ultrapar Participacoes from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $3.20.

Ultrapar Participacoes Stock Performance

NYSE UGP traded up $0.05 during trading on Wednesday, reaching $3.11. The company's stock had a trading volume of 1,813,778 shares, compared to its average volume of 1,891,054. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of 8.63, a price-to-earnings-growth ratio of 3.06 and a beta of 1.05. The company has a current ratio of 1.76, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. Ultrapar Participacoes has a 12 month low of $2.53 and a 12 month high of $4.51. The firm has a 50 day moving average price of $3.08 and a 200 day moving average price of $3.00.

Ultrapar Participacoes Company Profile

Ultrapar Participações SA, through its subsidiaries, operates in the energy and infrastructure business in Brazil. The company distributes liquefied petroleum gas to residential, commercial, and industrial consumers, in addition to renewable electricity and compressed natural gas. It also operates in the distribution and marketing of gasoline, ethanol, diesel, fuel oil, kerosene, natural gas for vehicles, and lubricants; and holds AmPm convenience stores and provides JetOil lubricant services.