Short Interest in Franklin Covey Company (NYSE:FC) Declines By 43.5%
by Renee Jackson · The Cerbat GemFranklin Covey Company (NYSE:FC – Get Free Report) saw a large decrease in short interest during the month of April. As of April 15th, there was short interest totaling 1,105,226 shares, a decrease of 43.5% from the March 31st total of 1,954,561 shares. Based on an average daily trading volume, of 405,819 shares, the days-to-cover ratio is presently 2.7 days. Currently, 11.6% of the company’s shares are sold short.
Franklin Covey Price Performance
Franklin Covey stock traded down $0.36 during mid-day trading on Monday, reaching $21.25. 81,342 shares of the company traded hands, compared to its average volume of 238,627. The firm’s 50 day moving average price is $16.87 and its 200 day moving average price is $17.31. The firm has a market capitalization of $239.52 million, a price-to-earnings ratio of -101.20, a P/E/G ratio of 1.36 and a beta of 0.58. Franklin Covey has a 52-week low of $11.16 and a 52-week high of $24.70.
Franklin Covey (NYSE:FC – Get Free Report) last issued its quarterly earnings data on Wednesday, April 1st. The business services provider reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.06). The company had revenue of $59.65 million for the quarter, compared to analysts’ expectations of $58.71 million. Franklin Covey had a negative net margin of 0.88% and a positive return on equity of 12.79%. On average, sell-side analysts anticipate that Franklin Covey will post 0.8 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in FC. Amundi purchased a new position in Franklin Covey during the 1st quarter valued at $58,000. AQR Capital Management LLC increased its position in Franklin Covey by 14.1% during the 1st quarter. AQR Capital Management LLC now owns 68,376 shares of the business services provider’s stock valued at $1,889,000 after purchasing an additional 8,441 shares during the period. Goldman Sachs Group Inc. increased its position in Franklin Covey by 26.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 238,547 shares of the business services provider’s stock valued at $6,589,000 after purchasing an additional 50,568 shares during the period. Jane Street Group LLC increased its position in Franklin Covey by 274.3% during the 1st quarter. Jane Street Group LLC now owns 84,874 shares of the business services provider’s stock valued at $2,344,000 after purchasing an additional 62,201 shares during the period. Finally, Creative Planning purchased a new position in Franklin Covey during the 2nd quarter valued at $217,000. 69.88% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on FC shares. Barrington Research reiterated an “outperform” rating and set a $25.00 price target on shares of Franklin Covey in a report on Thursday, April 2nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Franklin Covey in a report on Friday, April 10th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $26.00.
Get Our Latest Stock Analysis on Franklin Covey
Franklin Covey Company Profile
Franklin Covey Co (NYSE:FC) is a global consulting and training firm specializing in performance improvement solutions for individuals and organizations. The company offers a range of services, including leadership development, productivity tools, execution frameworks and assessments designed to foster personal effectiveness and drive business results. Its flagship offerings integrate training workshops, digital resources and coaching to support clients in areas such as strategic planning, team productivity and change management.
The origins of Franklin Covey trace back to the merger in 1997 of Franklin Quest Co, founded in 1983 by Hyrum W.