Short Interest in The Container Store Group, Inc. (NYSE:TCS) Drops By 55.5%

The Container Store Group, Inc. (NYSE:TCS) saw a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 123,000 shares, a decrease of 55.5% from the October 31st total of 276,200 shares. Approximately 6.1% of the company’s stock are sold short. Based on an average daily volume of 134,800 shares, the days-to-cover ratio is currently 0.9 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of The Container Store Group from a “sell” rating to a “hold” rating in a research report on Wednesday.

Hedge Funds Weigh In On The Container Store Group

A number of institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC grew its position in shares of The Container Store Group by 21.0% in the second quarter. Renaissance Technologies LLC now owns 88,200 shares of the specialty retailer’s stock valued at $48,000 after purchasing an additional 15,300 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in The Container Store Group during the 2nd quarter valued at approximately $165,000. Jacobs Levy Equity Management Inc. acquired a new stake in The Container Store Group in the 1st quarter valued at approximately $490,000. Finally, Zazove Associates LLC increased its position in The Container Store Group by 72.6% in the 1st quarter. Zazove Associates LLC now owns 470,410 shares of the specialty retailer’s stock worth $536,000 after buying an additional 197,831 shares during the period. Institutional investors own 67.11% of the company’s stock.

The Container Store Group Price Performance

Shares of TCS stock traded down $0.17 during trading on Thursday, reaching $3.44. The company had a trading volume of 102,701 shares, compared to its average volume of 74,856. The stock has a 50 day moving average price of $7.87. The Container Store Group has a one year low of $3.32 and a one year high of $37.80. The company has a quick ratio of 0.57, a current ratio of 1.29 and a debt-to-equity ratio of 1.73. The firm has a market cap of $11.87 million, a P/E ratio of -0.12 and a beta of 1.08.

The Container Store Group Company Profile

The Container Store Group, Inc operates as a specialty retailer of organizing solutions, custom spaces, and in-home organizing services in the United States. The company operates in two segments, The Container Store and Elfa. Its stores provide custom space offerings; countertop, cosmetic and jewelry, shower and bathtub, drawer organizers, and cabinet storage products; closets that includes shoe storage, hangers, drawer organizers, boxes and bins, hanging storage bags, garment racks, jewelry storage, and bedding.