Strattec Security Corporation (NASDAQ:STRT) Short Interest Update

Key Points

• Strattec Security Corporation saw a significant 27.7% drop in short interest, with 206,400 shares sold short as of August 31st, reflecting a stronger market position for the company.
• The company reported $2.06 EPS for the last quarter, exceeding estimates by $0.99, along with revenue of $152.01 million, surpassing expectations.
• Institutional investors now own 68.91% of Strattec's stock, with several hedge funds increasing their stakes in the company during the second quarter.

Strattec Security Corporation (NASDAQ:STRT - Get Free Report) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totaling 206,400 shares, a drop of 27.7% from the August 15th total of 285,400 shares. Based on an average daily trading volume, of 108,200 shares, the days-to-cover ratio is presently 1.9 days. Currently, 5.4% of the company's stock are sold short. Currently, 5.4% of the company's stock are sold short. Based on an average daily trading volume, of 108,200 shares, the days-to-cover ratio is presently 1.9 days.

Analysts Set New Price Targets

STRT has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Strattec Security from a "buy" rating to a "strong-buy" rating in a research report on Monday, September 1st. Zacks Research downgraded shares of Strattec Security from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 19th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of "Sell".

Strattec Security Stock Performance

STRT stock opened at $70.37 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.89 and a current ratio of 2.43. The stock has a market capitalization of $292.74 million, a price-to-earnings ratio of 15.40, a PEG ratio of 1.60 and a beta of 1.37. Strattec Security has a 1 year low of $31.57 and a 1 year high of $83.00. The stock's fifty day moving average is $66.80 and its two-hundred day moving average is $53.72.

Strattec Security (NASDAQ:STRT - Get Free Report) last posted its earnings results on Thursday, August 14th. The auto parts company reported $2.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.99. The company had revenue of $152.01 million for the quarter, compared to analysts' expectations of $143.51 million. Strattec Security had a return on equity of 8.95% and a net margin of 3.31%. On average, research analysts predict that Strattec Security will post 3.67 EPS for the current year.

Insider Buying and Selling at Strattec Security

In other news, COO Rolando Guillot sold 22,890 shares of the firm's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $65.86, for a total transaction of $1,507,535.40. Following the completion of the sale, the chief operating officer owned 5,541 shares of the company's stock, valued at approximately $364,930.26. This trade represents a 80.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.90% of the company's stock.

Institutional Investors Weigh In On Strattec Security

A number of hedge funds have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. bought a new stake in shares of Strattec Security during the second quarter valued at about $25,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Strattec Security during the second quarter valued at about $50,000. Raymond James Financial Inc. bought a new stake in shares of Strattec Security during the second quarter valued at about $92,000. New York State Common Retirement Fund bought a new stake in shares of Strattec Security during the second quarter valued at about $106,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its stake in shares of Strattec Security by 57.1% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,715 shares of the auto parts company's stock valued at $71,000 after purchasing an additional 623 shares in the last quarter. 68.91% of the stock is currently owned by institutional investors.

About Strattec Security

Strattec Security Corporation designs, develops, manufactures, and markets automotive access control products under the VAST Automotive Group brand primarily in North America. The company provides mechanical and electronically enhanced locks and keys, passive entry passive start systems, steering column and instrument panel ignition lock housings, latches, power sliding side door systems, power tailgate and lift gate systems, power deck lid systems, door handles, and related products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.