Investors Title (NASDAQ:ITIC) Short Interest Up 15.3% in August

Investors Title (NASDAQ:ITIC) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 13,600 shares, a growth of 15.3% from the July 31st total of 11,800 shares. Approximately 1.0% of the shares of the company are short sold. Based on an average trading volume of 2,800 shares, the days-to-cover ratio is currently 4.9 days.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of Investors Title by 1.5% in the second quarter. BlackRock Inc. now owns 106,581 shares of the insurance provider’s stock valued at $17,800,000 after buying an additional 1,569 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Investors Title by 1.5% in the second quarter. Vanguard Group Inc. now owns 59,979 shares of the insurance provider’s stock valued at $10,016,000 after buying an additional 869 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Investors Title by 6.5% in the second quarter. Renaissance Technologies LLC now owns 23,100 shares of the insurance provider’s stock valued at $3,858,000 after buying an additional 1,400 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Investors Title by 13.9% in the second quarter. Bank of New York Mellon Corp now owns 8,909 shares of the insurance provider’s stock valued at $1,488,000 after buying an additional 1,086 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Investors Title by 151.2% in the first quarter. New York State Common Retirement Fund now owns 6,270 shares of the insurance provider’s stock valued at $990,000 after buying an additional 3,774 shares in the last quarter. Institutional investors and hedge funds own 42.06% of the company’s stock.

ITIC has been the subject of a number of analyst reports. ValuEngine raised Investors Title from a “hold” rating to a “buy” rating in a report on Tuesday. BidaskClub raised Investors Title from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th.

Shares of NASDAQ:ITIC opened at $161.00 on Friday. Investors Title has a 12-month low of $134.04 and a 12-month high of $198.50. The company has a market capitalization of $283.30 million, a PE ratio of 12.43 and a beta of 0.58. The business has a 50 day moving average of $150.86 and a two-hundred day moving average of $159.91. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.02.

Investors Title (NASDAQ:ITIC) last announced its quarterly earnings results on Monday, August 5th. The insurance provider reported $2.90 earnings per share (EPS) for the quarter. Investors Title had a return on equity of 12.34% and a net margin of 14.03%. The company had revenue of $42.73 million during the quarter.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Friday, August 30th.

About Investors Title

Investors Title Company, through its subsidiaries, provides title insurance for residential, institutional, commercial, and industrial properties. The company underwrites land title insurance for owners and mortgagees as a primary insurer; and assumes the reinsurance of title insurance risks from other title insurance companies.

Featured Article: Call Option

Receive News & Ratings for Investors Title Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Investors Title and related companies with MarketBeat.com's FREE daily email newsletter.