Trade Report: Today: Logitech International SA (LOGI) Short Interest Down 11.5% in November

Today: Logitech International SA (LOGI) Short Interest Down 11.5% in November

Logitech International SA (NASDAQ:LOGI) was the recipient of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 11,402,566 shares, a decrease of 11.5% from the October 31st total of 12,878,253 shares. Currently, 7.7% of the shares of the company are sold short. Based on an average daily volume of 414,964 shares, the days-to-cover ratio is presently 27.5 days.

In related news, VP L Joseph Sullivan sold 22,500 shares of the stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $21.75, for a total transaction of $489,375.00. Following the completion of the sale, the vice president now owns 213,161 shares in the company, valued at approximately $4,636,251.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.90% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in LOGI. Wells Fargo & Company MN increased its position in shares of Logitech International SA by 5.0% in the third quarter. Wells Fargo & Company MN now owns 5,682 shares of the company’s stock worth $128,000 after buying an additional 272 shares during the period. World Asset Management Inc increased its position in shares of Logitech International SA by 7.5% in the second quarter. World Asset Management Inc now owns 10,776 shares of the company’s stock worth $175,000 after buying an additional 751 shares during the period. Penserra Capital Management LLC increased its position in shares of Logitech International SA by 113.4% in the third quarter. Penserra Capital Management LLC now owns 5,620 shares of the company’s stock worth $126,000 after buying an additional 2,987 shares during the period. LMR Partners LLP increased its position in shares of Logitech International SA by 12.4% in the third quarter. LMR Partners LLP now owns 27,091 shares of the company’s stock worth $608,000 after buying an additional 2,999 shares during the period. Finally, Nationwide Fund Advisors increased its position in shares of Logitech International SA by 13.7% in the second quarter. Nationwide Fund Advisors now owns 39,079 shares of the company’s stock worth $636,000 after buying an additional 4,700 shares during the period. 35.02% of the stock is currently owned by institutional investors and hedge funds.

Logitech International SA (NASDAQ:LOGI) opened at 24.53 on Monday. The company’s 50 day moving average price is $23.65 and its 200 day moving average price is $19.83. The company has a market cap of $3.97 billion, a P/E ratio of 24.93 and a beta of 0.47. Logitech International SA has a 52-week low of $13.25 and a 52-week high of $25.87.

A number of analysts have commented on LOGI shares. Zacks Investment Research downgraded Logitech International SA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 27th. Brean Capital started coverage on Logitech International SA in a research report on Tuesday, October 25th. They issued a “buy” rating for the company. Morgan Stanley upgraded Logitech International SA from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, August 10th. Rosenblatt Securities reiterated a “buy” rating and issued a $22.75 price objective on shares of Logitech International SA in a research report on Thursday, September 15th. Finally, JPMorgan Chase & Co. upgraded Logitech International SA from an “underweight” rating to a “neutral” rating and reduced their price objective for the stock from $18.00 to $14.00 in a research report on Thursday, October 27th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $17.44.

Logitech International SA Company Profile

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