Patriot Transportation Holding Inc (NASDAQ:PATI) Sees Large Decline in Short Interest

Patriot Transportation Holding Inc (NASDAQ:PATI) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 500 shares, a decrease of 37.5% from the July 31st total of 800 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 1,300 shares, the days-to-cover ratio is presently 0.4 days.

Shares of Patriot Transportation stock traded up $0.11 on Friday, hitting $17.80. The company had a trading volume of 2,100 shares, compared to its average volume of 2,528. The firm has a market capitalization of $58.61 million, a P/E ratio of 48.64 and a beta of -0.15. Patriot Transportation has a twelve month low of $16.75 and a twelve month high of $21.24. The stock has a 50-day moving average of $17.79 and a 200-day moving average of $18.32.

Patriot Transportation (NASDAQ:PATI) last released its quarterly earnings results on Wednesday, July 31st. The transportation company reported $0.12 earnings per share for the quarter. The company had revenue of $27.53 million during the quarter. Patriot Transportation had a net margin of 1.97% and a return on equity of 2.16%.

Separately, ValuEngine upgraded shares of Patriot Transportation from a “sell” rating to a “hold” rating in a report on Monday, July 22nd.

A hedge fund recently raised its stake in Patriot Transportation stock. Minerva Advisors LLC raised its stake in Patriot Transportation Holding Inc (NASDAQ:PATI) by 0.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 251,325 shares of the transportation company’s stock after acquiring an additional 1,426 shares during the quarter. Patriot Transportation makes up approximately 2.3% of Minerva Advisors LLC’s investment portfolio, making the stock its 13th largest position. Minerva Advisors LLC owned 7.51% of Patriot Transportation worth $4,273,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 48.62% of the company’s stock.

Patriot Transportation Company Profile

Patriot Transportation Holding, Inc, through its subsidiary, Florida Rock & Tank Lines, Inc, engages in the transportation business. The company is involved in hauling petroleum related products, including gas and diesel fuel; and dry bulk commodities, such as cement, lime, and various industrial powder products, and liquid chemicals.

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