Short Interest in Rentokil Initial plc (NYSE:RTO) Declines By 22.1%

by · The Markets Daily

Rentokil Initial plc (NYSE:RTO – Get Free Report) saw a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 2,960,000 shares, a decrease of 22.1% from the December 15th total of 3,800,000 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average daily trading volume, of 755,800 shares, the days-to-cover ratio is currently 3.9 days.

Rentokil Initial Price Performance

NYSE RTO traded down $0.20 during trading hours on Friday, reaching $23.82. The company’s stock had a trading volume of 646,045 shares, compared to its average volume of 625,850. The company’s 50-day moving average is $25.49 and its two-hundred day moving average is $27.24. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.96 and a current ratio of 1.04. Rentokil Initial has a 1-year low of $22.40 and a 1-year high of $34.07.

Analysts Set New Price Targets

RTO has been the subject of several research reports. Citigroup upgraded shares of Rentokil Initial to a “strong-buy” rating in a research note on Friday, December 13th. Redburn Atlantic lowered Rentokil Initial from a “buy” rating to a “neutral” rating in a report on Thursday, September 19th. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Rentokil Initial presently has a consensus rating of “Moderate Buy” and an average price target of $29.00.

Check Out Our Latest Analysis on Rentokil Initial

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RTO. Northwestern Mutual Wealth Management Co. increased its holdings in Rentokil Initial by 403.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,052 shares of the company’s stock worth $31,000 after acquiring an additional 843 shares in the last quarter. Anthracite Investment Company Inc. increased its stake in shares of Rentokil Initial by 211.3% during the third quarter. Anthracite Investment Company Inc. now owns 214,402 shares of the company’s stock worth $5,345,000 after purchasing an additional 145,528 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of Rentokil Initial by 165.8% during the third quarter. Oppenheimer & Co. Inc. now owns 55,604 shares of the company’s stock worth $1,386,000 after purchasing an additional 34,687 shares in the last quarter. Veracity Capital LLC acquired a new position in shares of Rentokil Initial during the 3rd quarter worth about $644,000. Finally, Janus Henderson Group PLC lifted its stake in Rentokil Initial by 3.8% in the 3rd quarter. Janus Henderson Group PLC now owns 16,990,179 shares of the company’s stock valued at $423,573,000 after buying an additional 617,227 shares in the last quarter. 9.91% of the stock is owned by institutional investors and hedge funds.

About Rentokil Initial

(Get Free Report)

Rentokil Initial plc, together with its subsidiaries, provides route-based services in North America, the United Kingdom, rest of Europe, Asia, the Pacific, and internationally. It offers a range of pest control services for rodents, and flying and crawling insects, as well as other forms of wildlife management for commercial customers.

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