Beneficient (NASDAQ:BENF) Sees Significant Increase in Short Interest

Beneficient (NASDAQ:BENF) saw a significant increase in short interest in October. As of October 31st, there was short interest totalling 134,700 shares, an increase of 24.8% from the October 15th total of 107,900 shares. Based on an average daily trading volume, of 3,820,000 shares, the short-interest ratio is currently 0.0 days. Currently, 3.8% of the shares of the stock are short sold.

Insider Activity

In other news, major shareholder Gwg Wind Down Trust sold 479,511 shares of Beneficient stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $2.93, for a total value of $1,404,967.23. Following the completion of the sale, the insider now directly owns 643,178 shares in the company, valued at approximately $1,884,511.54. The trade was a 42.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter T. Cangany, Jr. purchased 30,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was acquired at an average price of $1.97 per share, with a total value of $59,100.00. Following the completion of the transaction, the director now owns 125,000 shares of the company’s stock, valued at $246,250. This represents a 31.58 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 796,387 shares of company stock worth $1,977,919. Corporate insiders own 13.69% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Beneficient stock. Stifel Financial Corp grew its stake in shares of Beneficient (NASDAQ:BENF) by 138.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,300 shares of the company’s stock after buying an additional 14,100 shares during the quarter. Stifel Financial Corp owned approximately 0.57% of Beneficient worth $30,000 as of its most recent SEC filing. 90.57% of the stock is owned by institutional investors.

Beneficient Price Performance

Shares of NASDAQ:BENF opened at $1.20 on Friday. The company’s 50 day simple moving average is $1.32 and its 200 day simple moving average is $2.48. Beneficient has a 1 year low of $1.11 and a 1 year high of $51.14.

Beneficient (NASDAQ:BENF) last announced its quarterly earnings data on Wednesday, August 14th. The company reported $0.17 earnings per share (EPS) for the quarter. The firm had revenue of $10.05 million during the quarter. Equities analysts anticipate that Beneficient will post -1.72 EPS for the current year.

Beneficient Company Profile

Beneficient, a technology-enabled financial services company, provides liquidity solutions and related trustee, custody and trust administrative services to participants in the alternative asset industry in the United States. It operates through Ben Liquidity, Ben Custody, and Customer ExAlt Trusts segments.