ASGN Incorporated (NYSE:ASGN) Sees Large Decline in Short Interest
ASGN Incorporated (NYSE:ASGN – Get Free Report) was the recipient of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 1,190,000 shares, a drop of 7.8% from the October 31st total of 1,290,000 shares. Approximately 2.6% of the company’s stock are short sold. Based on an average daily volume of 275,100 shares, the days-to-cover ratio is currently 4.3 days.
Wall Street Analysts Forecast Growth
ASGN has been the subject of a number of analyst reports. UBS Group initiated coverage on shares of ASGN in a research report on Tuesday, November 7th. They issued a “sell” rating and a $72.00 price target for the company. StockNews.com initiated coverage on shares of ASGN in a research report on Thursday, October 5th. They set a “hold” rating for the company. TheStreet upgraded shares of ASGN from a “c+” rating to a “b-” rating in a research report on Monday, November 20th. BMO Capital Markets boosted their price objective on shares of ASGN from $83.00 to $85.00 and gave the company a “market perform” rating in a research report on Thursday, October 26th. Finally, Wells Fargo & Company assumed coverage on shares of ASGN in a research note on Monday, September 18th. They issued an “overweight” rating and a $102.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, ASGN has an average rating of “Hold” and a consensus target price of $84.17.
Read Our Latest Analysis on ASGN
Insider Buying and Selling at ASGN
In other news, CEO Theodore S. Hanson sold 34,500 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $85.54, for a total transaction of $2,951,130.00. Following the completion of the sale, the chief executive officer now owns 304,509 shares in the company, valued at $26,047,699.86. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Theodore S. Hanson sold 34,500 shares of ASGN stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $85.54, for a total value of $2,951,130.00. Following the completion of the sale, the chief executive officer now directly owns 304,509 shares in the company, valued at $26,047,699.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Randolph C. Blazer sold 8,447 shares of ASGN stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $85.98, for a total transaction of $726,273.06. Following the completion of the sale, the president now owns 113,938 shares of the company’s stock, valued at $9,796,389.24. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.
Hedge Funds Weigh In On ASGN
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Kennedy Capital Management LLC boosted its position in shares of ASGN by 3.6% during the 3rd quarter. Kennedy Capital Management LLC now owns 110,247 shares of the business services provider’s stock worth $9,005,000 after purchasing an additional 3,787 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of ASGN by 38.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 615 shares of the business services provider’s stock worth $50,000 after purchasing an additional 171 shares in the last quarter. Reinhart Partners LLC. lifted its position in ASGN by 6.0% in the 3rd quarter. Reinhart Partners LLC. now owns 490,853 shares of the business services provider’s stock valued at $40,093,000 after acquiring an additional 27,871 shares in the last quarter. Argent Capital Management LLC lifted its position in ASGN by 19.5% in the 3rd quarter. Argent Capital Management LLC now owns 5,433 shares of the business services provider’s stock valued at $444,000 after acquiring an additional 887 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in ASGN by 8.1% in the 3rd quarter. SG Americas Securities LLC now owns 15,891 shares of the business services provider’s stock valued at $1,298,000 after acquiring an additional 1,193 shares in the last quarter. Institutional investors own 94.41% of the company’s stock.
ASGN Trading Up 1.4 %
ASGN stock traded up $1.31 during trading hours on Monday, reaching $93.58. 190,606 shares of the company’s stock were exchanged, compared to its average volume of 293,357. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.54. The firm’s 50 day simple moving average is $84.44 and its 200 day simple moving average is $79.16. ASGN has a twelve month low of $63.27 and a twelve month high of $97.80. The firm has a market capitalization of $4.42 billion, a PE ratio of 20.32, a PEG ratio of 9.89 and a beta of 1.55.
ASGN (NYSE:ASGN – Get Free Report) last released its quarterly earnings data on Wednesday, October 25th. The business services provider reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. ASGN had a net margin of 4.96% and a return on equity of 15.87%. Research analysts predict that ASGN will post 6.02 earnings per share for the current year.
ASGN Company Profile (Get Free Report)
ASGN Incorporated provides information technology services and professional solutions in the technology, digital, and creative fields for commercial and government sectors in the United States, Canada, and Europe. It operates through two segments, Commercial and Federal Government. The Commercial Segment provides consulting, creative digital marketing, and permanent placement services primarily to enterprise clients.
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Original: MarketBeat News Feed: ASGN Incorporated (NYSE:ASGN) Sees Large Decline in Short Interest