Short Interest in Meritor Inc (NYSE:MTOR) Increases By 8.5%

Meritor Inc (NYSE:MTOR) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 9,320,000 shares, an increase of 8.5% from the December 15th total of 8,590,000 shares. Based on an average trading volume of 1,510,000 shares, the short-interest ratio is presently 6.2 days. Currently, 12.7% of the shares of the company are sold short.

Shares of Meritor stock traded down $0.26 during trading hours on Wednesday, reaching $25.25. 664,954 shares of the company’s stock were exchanged, compared to its average volume of 3,869,367. Meritor has a 1 year low of $15.96 and a 1 year high of $27.18. The company has a market capitalization of $1.98 billion, a P/E ratio of 6.61 and a beta of 2.29. The business has a fifty day moving average of $24.64 and a two-hundred day moving average of $21.81. The company has a quick ratio of 0.74, a current ratio of 1.30 and a debt-to-equity ratio of 2.17.

Meritor (NYSE:MTOR) last announced its quarterly earnings results on Wednesday, November 13th. The auto parts company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.15. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Meritor had a net margin of 6.63% and a return on equity of 78.25%. The company’s revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 EPS. As a group, research analysts predict that Meritor will post 2.8 EPS for the current year.

Several equities research analysts recently commented on the stock. Barclays boosted their price target on shares of Meritor from $19.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. ValuEngine lowered shares of Meritor from a “hold” rating to a “sell” rating in a report on Monday, December 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $24.30.

In related news, SVP Chris Villavarayan sold 15,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $23.47, for a total value of $352,050.00. Following the completion of the sale, the senior vice president now owns 45,115 shares of the company’s stock, valued at approximately $1,058,849.05. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Paul Bialy sold 3,465 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $24.73, for a total transaction of $85,689.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 250,728 shares of company stock valued at $6,179,082. Company insiders own 3.50% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Huntington National Bank lifted its position in shares of Meritor by 214,000.0% during the third quarter. Huntington National Bank now owns 2,141 shares of the auto parts company’s stock worth $40,000 after purchasing an additional 2,140 shares in the last quarter. Howe & Rusling Inc. purchased a new stake in shares of Meritor during the third quarter worth approximately $46,000. Meeder Asset Management Inc. increased its stake in shares of Meritor by 263.2% during the third quarter. Meeder Asset Management Inc. now owns 5,204 shares of the auto parts company’s stock worth $95,000 after buying an additional 3,771 shares during the period. Convergence Investment Partners LLC purchased a new stake in shares of Meritor during the third quarter worth approximately $142,000. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of Meritor during the second quarter worth approximately $211,000.

About Meritor

Meritor, Inc designs, develops, manufactures, markets, distributes, sells, services, and supports integrated systems, modules, and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation, and industrial sectors. It operates through two segments, Commercial Truck; and Aftermarket, Industrial and Trailer.

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