Clearwater Paper Corp (NYSE:CLW) Short Interest Update

Clearwater Paper Corp (NYSE:CLW) was the recipient of a large decline in short interest in June. As of June 30th, there was short interest totalling 1,062,700 shares, a decline of 11.3% from the May 30th total of 1,197,700 shares. Based on an average daily volume of 179,100 shares, the days-to-cover ratio is presently 5.9 days. Currently, 6.6% of the company’s stock are short sold.

In related news, insider Linda K. Massman purchased 5,500 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were purchased at an average cost of $17.92 per share, with a total value of $98,560.00. Following the transaction, the insider now directly owns 243,976 shares in the company, valued at approximately $4,372,049.92. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 3.97% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Investors Research Corp bought a new position in Clearwater Paper in the 1st quarter valued at approximately $66,000. BNP Paribas Arbitrage SA lifted its position in Clearwater Paper by 78.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,428 shares of the basic materials company’s stock valued at $86,000 after acquiring an additional 1,940 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Clearwater Paper by 8.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 4,440 shares of the basic materials company’s stock valued at $108,000 after acquiring an additional 337 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its position in Clearwater Paper by 390.2% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,726 shares of the basic materials company’s stock valued at $140,000 after acquiring an additional 4,558 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund bought a new position in shares of Clearwater Paper during the 4th quarter valued at $153,000. 82.79% of the stock is currently owned by institutional investors and hedge funds.

CLW stock traded up $0.32 during midday trading on Friday, hitting $18.45. The company’s stock had a trading volume of 98,982 shares, compared to its average volume of 182,777. The stock has a market capitalization of $303.71 million, a P/E ratio of 7.24 and a beta of 1.85. Clearwater Paper has a 12 month low of $16.05 and a 12 month high of $35.27. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.39 and a current ratio of 0.94. The business has a 50-day simple moving average of $18.20.

Clearwater Paper (NYSE:CLW) last released its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.10). The business had revenue of $428.78 million during the quarter, compared to the consensus estimate of $422.99 million. Clearwater Paper had a negative net margin of 8.31% and a positive return on equity of 7.76%. On average, equities analysts predict that Clearwater Paper will post -0.3 earnings per share for the current year.

A number of brokerages have recently commented on CLW. ValuEngine raised Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Royal Bank of Canada set a $42.00 price target on Devon Energy and gave the stock a “hold” rating in a research report on Thursday, May 2nd. DA Davidson lowered their price objective on JAKKS Pacific to $1.50 and set a “neutral” rating on the stock in a research report on Thursday, March 14th. Zacks Investment Research cut First Merchants from a “hold” rating to a “sell” rating in a research report on Monday, July 1st. Finally, KeyCorp reaffirmed a “hold” rating on shares of Clearwater Paper in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Clearwater Paper presently has an average rating of “Hold” and a consensus target price of $32.67.

About Clearwater Paper

Clearwater Paper Corporation produces and sells produces and sells private label tissue and bleached paperboard products in the United States and internationally. It operates in two segments, Consumer Products, and Pulp and Paperboard. The Consumer Products segment manufactures and sells a line of at-home tissue products, including bathroom tissues, paper towels, facial tissues, and napkins; recycled fiber value grade products; and away-from-home products, such as conventional one- and two-ply bath tissues, two-ply paper towels, hard wound towels, and dispenser napkins.

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