The Wendy’s Co. (WEN) Sees Large Growth in Short Interest

The Wendy’s Co. (WEN) Sees Large Growth in Short Interest

Wendy’s Co. (NASDAQ:WEN) saw a large growth in short interest in the month of October. As of October 14th, there was short interest totalling 30,141,883 shares, a growth of 12.8% from the September 30th total of 26,732,018 shares. Approximately 12.4% of the shares of the company are sold short. Based on an average trading volume of 2,407,110 shares, the short-interest ratio is currently 12.5 days.

Large investors have recently bought and sold shares of the company. Seven Eight Capital LLC bought a new stake in Wendy’s during the second quarter valued at $102,000. Stephens Inc. AR increased its stake in Wendy’s by 8.9% in the second quarter. Stephens Inc. AR now owns 12,525 shares of the company’s stock valued at $120,000 after buying an additional 1,025 shares during the last quarter. LS Investment Advisors LLC increased its stake in Wendy’s by 67.1% in the second quarter. LS Investment Advisors LLC now owns 13,324 shares of the company’s stock valued at $128,000 after buying an additional 5,350 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Wendy’s by 31.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 13,805 shares of the company’s stock valued at $133,000 after buying an additional 3,321 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Wendy’s during the second quarter valued at $137,000. 80.99% of the stock is owned by institutional investors and hedge funds.

Several analysts have recently commented on WEN shares. Goldman Sachs Group Inc. cut shares of Wendy’s from a “conviction-buy” rating to a “buy” rating and reduced their target price for the stock from $12.50 to $11.00 in a research note on Thursday, August 11th. Vetr downgraded shares of Wendy’s from a “strong-buy” rating to a “buy” rating and set a $11.21 price target for the company. in a report on Monday, August 8th. Zacks Investment Research upgraded shares of Wendy’s from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Tuesday, September 27th. Citigroup Inc. reiterated a “buy” rating and issued a $13.00 price target on shares of Wendy’s in a report on Wednesday, October 5th. Finally, Argus reiterated a “hold” rating on shares of Wendy’s in a report on Tuesday, August 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $12.85.

Shares of Wendy’s (NASDAQ:WEN) opened at 10.89 on Friday. Wendy’s has a 52-week low of $8.89 and a 52-week high of $11.38. The company has a 50 day moving average of $10.72 and a 200 day moving average of $10.32. The firm has a market capitalization of $2.85 billion, a PE ratio of 20.98 and a beta of 0.81.

Wendy’s (NASDAQ:WEN) last posted its quarterly earnings data on Wednesday, August 10th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The business earned $382.70 million during the quarter, compared to the consensus estimate of $366.92 million. Wendy’s had a net margin of 8.59% and a return on equity of 15.94%. The company’s quarterly revenue was down 21.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.08 earnings per share. On average, analysts anticipate that Wendy’s will post $0.40 earnings per share for the current fiscal year.

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