180 Degree Capital Corp (NASDAQ:TURN) was the target of a significant decline in short interest in June. As of June 30th, there was short interest totalling 27,700 shares, a decline of 45.8% from the June 15th total of 51,100 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average trading volume of 91,300 shares, the days-to-cover ratio is presently 0.3 days.
In other 180 Degree Capital news, CEO Kevin Rendino purchased 18,753 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average price of $1.57 per share, for a total transaction of $29,442.21. Following the completion of the purchase, the chief executive officer now directly owns 891,796 shares of the company’s stock, valued at $1,400,119.72. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Robert E. Bigelow III purchased 51,250 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was acquired at an average price of $1.63 per share, with a total value of $83,537.50. Following the purchase, the vice president now directly owns 181,250 shares of the company’s stock, valued at $295,437.50. The disclosure for this purchase can be found here. Insiders acquired 162,003 shares of company stock worth $260,402 over the last three months. Corporate insiders own 5.10% of the company’s stock.
A number of institutional investors have recently bought and sold shares of TURN. Morgan Stanley increased its position in 180 Degree Capital by 23.5% during the first quarter. Morgan Stanley now owns 383,470 shares of the company’s stock valued at $521,000 after acquiring an additional 72,885 shares during the last quarter. Greenwich Investment Management Inc. increased its position in 180 Degree Capital by 35.1% during the first quarter. Greenwich Investment Management Inc. now owns 748,829 shares of the company’s stock valued at $1,017,000 after acquiring an additional 194,530 shares during the last quarter. Punch & Associates Investment Management Inc. increased its position in 180 Degree Capital by 34.6% during the fourth quarter. Punch & Associates Investment Management Inc. now owns 1,474,510 shares of the company’s stock valued at $3,170,000 after acquiring an additional 379,200 shares during the last quarter. Finally, Ariel Investments LLC increased its position in 180 Degree Capital by 2.2% during the fourth quarter. Ariel Investments LLC now owns 2,978,818 shares of the company’s stock valued at $6,404,000 after acquiring an additional 64,500 shares during the last quarter. Institutional investors own 34.03% of the company’s stock.
Shares of TURN stock traded down $0.01 during mid-day trading on Tuesday, hitting $1.76. The company’s stock had a trading volume of 11,904 shares, compared to its average volume of 56,199. 180 Degree Capital has a 52-week low of $1.04 and a 52-week high of $2.30. The business has a 50-day moving average price of $1.72 and a 200 day moving average price of $1.79.
Separately, ValuEngine cut 180 Degree Capital from a “hold” rating to a “sell” rating in a research note on Monday, March 9th.
180 Degree Capital Company Profile
180 Degree Capital Corp. is a publicly owned investment manager. The firm manages separate client-focused equity portfolios. It invests in the public equity markets of the United States. The firm also invests in privately held portfolio companies. It primarily invests in value stocks of small cap companies.
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