Core-Mark Holding Company, Inc. (NASDAQ:CORE) Short Interest Update

Core-Mark Holding Company, Inc. (NASDAQ:CORE) was the target of a significant increase in short interest in June. As of June 30th, there was short interest totalling 1,521,400 shares, an increase of 9.2% from the May 30th total of 1,393,700 shares. Based on an average daily trading volume, of 284,600 shares, the days-to-cover ratio is currently 5.3 days. Currently, 3.4% of the shares of the stock are sold short.

In related news, Director Harvey L. Tepner sold 2,351 shares of Core-Mark stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $40.00, for a total transaction of $94,040.00. Following the completion of the sale, the director now owns 44,370 shares in the company, valued at approximately $1,774,800. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.10% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zions Bancorporation N.A. bought a new stake in shares of Core-Mark in the 1st quarter valued at approximately $192,000. Acadian Asset Management LLC grew its stake in Core-Mark by 97.0% during the 1st quarter. Acadian Asset Management LLC now owns 345,423 shares of the business services provider’s stock worth $12,825,000 after buying an additional 170,078 shares during the last quarter. Martingale Asset Management L P bought a new position in Core-Mark during the 1st quarter worth $2,342,000. Natixis Advisors L.P. grew its stake in Core-Mark by 58.0% during the 4th quarter. Natixis Advisors L.P. now owns 194,090 shares of the business services provider’s stock worth $4,512,000 after buying an additional 71,224 shares during the last quarter. Finally, Globeflex Capital L P grew its stake in Core-Mark by 17.6% during the 4th quarter. Globeflex Capital L P now owns 25,429 shares of the business services provider’s stock worth $591,000 after buying an additional 3,800 shares during the last quarter. 92.15% of the stock is currently owned by institutional investors and hedge funds.

CORE opened at $38.83 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 1.61 and a debt-to-equity ratio of 0.70. The stock has a market cap of $1.81 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 3.11 and a beta of 0.76. The company has a 50-day simple moving average of $38.58. Core-Mark has a 12 month low of $22.53 and a 12 month high of $40.95.

Core-Mark (NASDAQ:CORE) last posted its quarterly earnings results on Wednesday, May 8th. The business services provider reported $0.14 EPS for the quarter, beating the consensus estimate of $0.08 by $0.06. The company had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.84 billion. Core-Mark had a return on equity of 12.03% and a net margin of 0.29%. The firm’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.07 EPS. Equities research analysts predict that Core-Mark will post 1.58 EPS for the current year.

A number of research firms recently commented on CORE. Zacks Investment Research cut Hess Midstream Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th. ValuEngine cut Yext from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 10th. TheStreet cut Titan Machinery from a “b” rating to a “c+” rating in a research report on Thursday, March 28th. Finally, BidaskClub upgraded Workhorse Group from a “hold” rating to a “buy” rating in a research report on Monday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Core-Mark currently has an average rating of “Buy” and a consensus target price of $37.83.

Core-Mark Company Profile

Core-Mark Holding Company, Inc markets fresh and broad-line supply solutions to the convenience retail industry. The company sells and distributes food products, including fast food, candies, snacks, and groceries, as well as beverages and fresh products, such as sandwiches, juices, salads, produce, dairy, and bread; and non-food products comprising cigars, tobacco, alternative nicotine products, health and beauty care products, and general merchandise and equipment.

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