Investors Title (NASDAQ:ITIC) Short Interest Up 9.2% in August

Investors Title (NASDAQ:ITIC) saw a large increase in short interest in August. As of August 31st, there was short interest totalling 17,800 shares, an increase of 9.2% from the August 15th total of 16,300 shares. Based on an average daily volume of 22,500 shares, the days-to-cover ratio is currently 0.8 days. Approximately 1.3% of the shares of the stock are sold short.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Investors Title from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th.

Investors Title Stock Performance

Shares of ITIC traded up $2.56 during trading hours on Wednesday, reaching $234.00. The stock had a trading volume of 10,810 shares, compared to its average volume of 10,246. Investors Title has a 12 month low of $127.71 and a 12 month high of $235.00. The stock has a market capitalization of $440.86 million, a PE ratio of 17.48 and a beta of 0.85. The company’s 50-day moving average is $210.48 and its two-hundred day moving average is $180.77.

Investors Title (NASDAQ:ITIC) last released its quarterly earnings results on Tuesday, August 6th. The insurance provider reported $4.70 earnings per share (EPS) for the quarter. The firm had revenue of $65.38 million during the quarter. Investors Title had a net margin of 11.25% and a return on equity of 10.32%.

Investors Title Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.46 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.84 annualized dividend and a yield of 0.79%. Investors Title’s payout ratio is 13.90%.

Institutional Investors Weigh In On Investors Title

Large investors have recently modified their holdings of the company. American Century Companies Inc. raised its position in Investors Title by 27.0% in the 2nd quarter. American Century Companies Inc. now owns 3,774 shares of the insurance provider’s stock valued at $680,000 after buying an additional 803 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Investors Title by 9.1% during the second quarter. Rhumbline Advisers now owns 2,088 shares of the insurance provider’s stock valued at $376,000 after purchasing an additional 174 shares in the last quarter. Ritholtz Wealth Management boosted its holdings in Investors Title by 55.0% during the second quarter. Ritholtz Wealth Management now owns 2,480 shares of the insurance provider’s stock worth $447,000 after purchasing an additional 880 shares during the last quarter. Bank of New York Mellon Corp grew its position in Investors Title by 6.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 12,607 shares of the insurance provider’s stock worth $2,271,000 after purchasing an additional 710 shares in the last quarter. Finally, Aristides Capital LLC purchased a new stake in Investors Title in the 1st quarter valued at about $1,648,000. 41.40% of the stock is currently owned by institutional investors and hedge funds.

About Investors Title

Investors Title Company engages in the issuance of residential and commercial title insurance for residential, institutional, commercial, and industrial properties. The company underwrites land title insurance for owners and mortgagees as a primary insurer; and assumes the reinsurance of title insurance risks from other title insurance companies.