Systemax Inc. (NYSE:SYX) Sees Large Decrease in Short Interest

Systemax Inc. (NYSE:SYX) saw a large drop in short interest in August. As of August 31st, there was short interest totalling 110,300 shares, a drop of 36.2% from the July 31st total of 172,900 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average daily volume of 65,600 shares, the short-interest ratio is currently 1.7 days.

SYX stock traded down $0.03 during trading on Friday, reaching $22.94. The company had a trading volume of 36,338 shares, compared to its average volume of 68,368. The firm has a 50-day simple moving average of $20.29 and a 200-day simple moving average of $21.31. The company has a market cap of $831.44 million, a price-to-earnings ratio of 18.50 and a beta of 0.14. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.14 and a current ratio of 1.75. Systemax has a twelve month low of $18.49 and a twelve month high of $35.89.

Systemax (NYSE:SYX) last released its earnings results on Tuesday, July 30th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $248.60 million during the quarter, compared to analysts’ expectations of $247.65 million. Systemax had a net margin of 23.14% and a return on equity of 25.61%. Systemax’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the business earned $0.60 EPS. Sell-side analysts expect that Systemax will post 1.39 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.09%. The ex-dividend date was Friday, August 9th. Systemax’s payout ratio is 38.71%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of Montreal Can lifted its stake in Systemax by 1,205.7% during the 2nd quarter. Bank of Montreal Can now owns 1,136 shares of the company’s stock valued at $25,000 after acquiring an additional 1,049 shares during the period. Assetmark Inc. acquired a new stake in Systemax during the 2nd quarter valued at approximately $36,000. Aperio Group LLC acquired a new stake in Systemax during the 2nd quarter valued at approximately $42,000. BNP Paribas Arbitrage SA lifted its stake in Systemax by 651.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,706 shares of the company’s stock valued at $61,000 after acquiring an additional 2,346 shares during the period. Finally, Marshall Wace North America L.P. acquired a new stake in Systemax during the 1st quarter valued at approximately $219,000. Institutional investors and hedge funds own 29.15% of the company’s stock.

About Systemax

Systemax Inc operates as a direct marketer of brand name and private label industrial and business equipment and supplies in North America. It sells a range of maintenance, repair, and operation products, including storage and shelving, material handling, janitorial and maintenance products, furniture and office products, workbenches and shop desks, HVAC/R and fans, safety and security products, outdoor and grounds maintenance products, tools and instruments, and office and school supplies.

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