Commercial Vehicle Group, Inc. (NASDAQ:CVGI – Get Free Report) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 905,000 shares, an increase of 18.3% from the December 15th total of 765,300 shares. Based on an average daily trading volume, of 316,100 shares, the days-to-cover ratio is currently 2.9 days. Currently, 3.1% of the company’s stock are sold short.
Insider Activity at Commercial Vehicle Group
In other news, Director Wayne M. Rancourt acquired 15,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average cost of $2.58 per share, with a total value of $38,700.00. Following the completion of the acquisition, the director now directly owns 157,783 shares in the company, valued at $407,080.14. This represents a 10.51 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.30% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Commercial Vehicle Group
Several hedge funds and other institutional investors have recently made changes to their positions in CVGI. SG Americas Securities LLC acquired a new position in shares of Commercial Vehicle Group during the third quarter worth approximately $47,000. Victory Capital Management Inc. acquired a new stake in Commercial Vehicle Group in the second quarter worth approximately $76,000. Barclays PLC lifted its position in Commercial Vehicle Group by 283.2% in the third quarter. Barclays PLC now owns 44,156 shares of the company’s stock worth $143,000 after purchasing an additional 32,633 shares during the period. BNP Paribas Financial Markets lifted its position in Commercial Vehicle Group by 129.9% in the third quarter. BNP Paribas Financial Markets now owns 43,869 shares of the company’s stock worth $143,000 after purchasing an additional 24,786 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Commercial Vehicle Group by 51.0% in the third quarter. JPMorgan Chase & Co. now owns 72,333 shares of the company’s stock worth $235,000 after purchasing an additional 24,437 shares during the period. 72.32% of the stock is currently owned by institutional investors and hedge funds.
Commercial Vehicle Group Stock Performance
Analysts Set New Price Targets
Separately, StockNews.com lowered Commercial Vehicle Group from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th.
Check Out Our Latest Research Report on CVGI
Commercial Vehicle Group Company Profile
Commercial Vehicle Group, Inc, together with its subsidiaries, designs, manufactures, assembles, and sells systems, assemblies, and components to commercial and electric vehicle, and industrial automation markets in North America, Europe, and the Asia-Pacific regions. The company operates in four segments: Vehicle Solutions, Electrical Systems, Aftermarket & Accessories, and Industrial Automation.
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