Short Interest in Franklin Covey Co. (NYSE:FC) Drops By 7.1%

Franklin Covey Co. (NYSE:FC) was the target of a significant drop in short interest in July. As of July 31st, there was short interest totalling 584,500 shares, a drop of 7.1% from the July 15th total of 628,900 shares. Based on an average daily trading volume, of 68,700 shares, the days-to-cover ratio is currently 8.5 days. Currently, 5.3% of the shares of the stock are sold short.

Hedge Funds Weigh In On Franklin Covey

Large investors have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. purchased a new position in Franklin Covey during the second quarter worth approximately $17,022,000. Wasatch Advisors LP purchased a new position in shares of Franklin Covey in the 1st quarter worth $6,862,000. Harbor Capital Advisors Inc. boosted its holdings in Franklin Covey by 225.9% in the second quarter. Harbor Capital Advisors Inc. now owns 102,416 shares of the business services provider’s stock valued at $3,892,000 after acquiring an additional 70,992 shares during the last quarter. Bares Capital Management Inc. grew its position in Franklin Covey by 11.0% during the fourth quarter. Bares Capital Management Inc. now owns 458,091 shares of the business services provider’s stock valued at $19,941,000 after acquiring an additional 45,290 shares during the period. Finally, Acadian Asset Management LLC increased its stake in Franklin Covey by 12.2% during the first quarter. Acadian Asset Management LLC now owns 238,455 shares of the business services provider’s stock worth $9,357,000 after acquiring an additional 25,876 shares during the last quarter. 69.88% of the stock is currently owned by hedge funds and other institutional investors.

Franklin Covey Price Performance

Franklin Covey stock opened at $39.53 on Wednesday. The firm’s 50-day moving average is $38.71 and its two-hundred day moving average is $38.65. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.88 and a quick ratio of 0.85. The stock has a market capitalization of $517.61 million, a P/E ratio of 29.50, a P/E/G ratio of 1.29 and a beta of 1.24. Franklin Covey has a 12-month low of $32.19 and a 12-month high of $45.17.

Franklin Covey (NYSE:FC) last released its earnings results on Wednesday, June 26th. The business services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.39 by $0.04. Franklin Covey had a net margin of 6.50% and a return on equity of 24.90%. The firm had revenue of $73.37 million during the quarter, compared to analysts’ expectations of $72.12 million. During the same period in the previous year, the company earned $0.32 EPS. Equities analysts predict that Franklin Covey will post 1.66 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on FC shares. Barrington Research restated an “outperform” rating and set a $45.00 target price on shares of Franklin Covey in a report on Thursday, June 27th. StockNews.com raised shares of Franklin Covey from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 24th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $50.00 target price on shares of Franklin Covey in a research note on Thursday, June 27th.

About Franklin Covey

Franklin Covey Co provides training and consulting services in the areas of execution, sales performance, productivity, customer loyalty, and educational improvement for organizations and individuals worldwide. The company operates through Direct Offices, International Licensees, and Education Practice segments.