Vacasa, Inc. (NASDAQ:VCSA) Sees Significant Drop in Short Interest

Vacasa, Inc. (NASDAQ:VCSA) was the recipient of a large drop in short interest in April. As of April 15th, there was short interest totalling 445,400 shares, a drop of 42.5% from the March 31st total of 774,000 shares. Approximately 6.4% of the shares of the stock are short sold. Based on an average trading volume of 73,700 shares, the short-interest ratio is presently 6.0 days.

Vacasa Stock Performance

Shares of NASDAQ:VCSA opened at $7.50 on Friday. Vacasa has a 1 year low of $5.62 and a 1 year high of $17.80. The stock’s 50-day moving average is $7.29 and its 200 day moving average is $7.81.

Vacasa (NASDAQ:VCSA) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($3.48) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($6.82) by $3.34. Vacasa had a negative net margin of 26.72% and a positive return on equity of 56.86%. The business had revenue of $177.44 million for the quarter, compared to the consensus estimate of $176.03 million. As a group, analysts forecast that Vacasa will post -3.98 EPS for the current fiscal year.

Insider Buying and Selling at Vacasa

In related news, major shareholder Mossytree Inc. sold 7,400 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $9.05, for a total value of $66,970.00. Following the sale, the insider now directly owns 213,812 shares of the company’s stock, valued at $1,934,998.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 59,700 shares of company stock valued at $546,147 in the last 90 days. Corporate insiders own 11.21% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Palogic Value Management L.P. bought a new stake in shares of Vacasa during the 4th quarter valued at $1,085,000. Brown Advisory Inc. purchased a new position in shares of Vacasa during the fourth quarter valued at approximately $110,000. 683 Capital Management LLC boosted its position in shares of Vacasa by 86.1% in the 3rd quarter. 683 Capital Management LLC now owns 1,500,000 shares of the company’s stock worth $692,000 after purchasing an additional 694,124 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Vacasa by 1.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 674,660 shares of the company’s stock worth $311,000 after buying an additional 11,450 shares during the last quarter. Hedge funds and other institutional investors own 82.48% of the company’s stock.

Analyst Ratings Changes

VCSA has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on Vacasa from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. JMP Securities lowered Vacasa from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 29th. The Goldman Sachs Group reduced their target price on shares of Vacasa from $11.00 to $9.50 and set a “neutral” rating on the stock in a report on Monday, April 22nd. Finally, Needham & Company LLC lowered their price target on shares of Vacasa from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, February 29th.

About Vacasa

Vacasa, Inc operates vacation rental management platform in North America, Belize, and Costa Rica. The company enables guests to search, discover, and book its properties on Vacasa.com and its Guest App. Vacasa, Inc was founded in 2009 and is headquartered in Portland, Oregon.