Strattec Security Co. (NASDAQ:STRT) Short Interest Update

Strattec Security Co. (NASDAQ:STRT) was the recipient of a large drop in short interest in June. As of June 15th, there was short interest totalling 3,700 shares, a drop of 47.9% from the May 31st total of 7,100 shares. Based on an average daily volume of 10,000 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.1% of the shares of the stock are sold short.

Insider Buying and Selling

In related news, major shareholder Gate City Capital Management, acquired 7,057 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was purchased at an average price of $24.60 per share, for a total transaction of $173,602.20. Following the transaction, the insider now owns 412,341 shares in the company, valued at approximately $10,143,588.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.93% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. acquired a new position in Strattec Security during the 4th quarter worth $96,000. Perritt Capital Management Inc. lifted its holdings in shares of Strattec Security by 63.6% in the third quarter. Perritt Capital Management Inc. now owns 6,873 shares of the auto parts company’s stock valued at $157,000 after buying an additional 2,673 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of Strattec Security in the first quarter valued at $325,000. Gabelli Funds LLC lifted its holdings in shares of Strattec Security by 9.2% in the first quarter. Gabelli Funds LLC now owns 36,800 shares of the auto parts company’s stock valued at $873,000 after buying an additional 3,100 shares during the period. Finally, Gate City Capital Management LLC acquired a new stake in shares of Strattec Security during the fourth quarter worth $10,270,000. Institutional investors and hedge funds own 68.91% of the company’s stock.

Strattec Security Stock Performance

Shares of NASDAQ STRT traded down $0.60 during trading on Friday, reaching $25.17. The stock had a trading volume of 22,549 shares, compared to its average volume of 9,039. Strattec Security has a one year low of $17.66 and a one year high of $30.34. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.51 and a current ratio of 2.24. The stock has a market cap of $102.44 million, a PE ratio of 26.03, a P/E/G ratio of 1.25 and a beta of 1.09. The firm’s 50 day moving average price is $24.91 and its two-hundred day moving average price is $24.50.

Strattec Security (NASDAQ:STRT) last issued its quarterly earnings results on Thursday, May 9th. The auto parts company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.27. The business had revenue of $140.77 million during the quarter, compared to the consensus estimate of $129.42 million. Strattec Security had a return on equity of 4.02% and a net margin of 0.76%. On average, research analysts forecast that Strattec Security will post 2.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Strattec Security from a “buy” rating to a “strong-buy” rating in a research report on Monday, May 13th.

Strattec Security Company Profile

Strattec Security Corporation designs, develops, manufactures, and markets automotive access control products under the VAST Automotive Group brand primarily in North America. The company provides mechanical and electronically enhanced locks and keys, passive entry passive start systems, steering column and instrument panel ignition lock housings, latches, power sliding side door systems, power tailgate and lift gate systems, power deck lid systems, door handles, and related products.