Short Interest in Investors Title Company (NASDAQ:ITIC) Expands By 21.4%

Investors Title Company (NASDAQ:ITIC) saw a significant increase in short interest in January. As of January 30th, there was short interest totaling 53,934 shares, an increase of 21.4% from the January 15th total of 44,440 shares. Currently, 3.9% of the company’s stock are short sold. Based on an average trading volume of 20,951 shares, the short-interest ratio is presently 2.6 days. Based on an average trading volume of 20,951 shares, the short-interest ratio is presently 2.6 days. Currently, 3.9% of the company’s stock are short sold.

Institutional Investors Weigh In On Investors Title

A number of institutional investors and hedge funds have recently modified their holdings of ITIC. Millennium Management LLC increased its stake in shares of Investors Title by 486.5% in the third quarter. Millennium Management LLC now owns 16,815 shares of the insurance provider’s stock worth $4,504,000 after acquiring an additional 13,948 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Investors Title by 110.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 20,140 shares of the insurance provider’s stock valued at $5,028,000 after purchasing an additional 10,589 shares during the last quarter. BNP Paribas Financial Markets grew its position in Investors Title by 12,260.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 10,506 shares of the insurance provider’s stock worth $2,220,000 after purchasing an additional 10,421 shares during the period. Two Sigma Investments LP grew its position in Investors Title by 18.7% during the 3rd quarter. Two Sigma Investments LP now owns 42,303 shares of the insurance provider’s stock worth $11,330,000 after purchasing an additional 6,673 shares during the period. Finally, Lazard Asset Management LLC purchased a new position in shares of Investors Title during the 3rd quarter valued at about $1,463,000. Institutional investors and hedge funds own 41.40% of the company’s stock.

Investors Title Price Performance

NASDAQ:ITIC traded down $1.17 during trading hours on Tuesday, hitting $262.83. 2,179 shares of the company were exchanged, compared to its average volume of 16,094. Investors Title has a 52-week low of $190.20 and a 52-week high of $288.98. The stock has a market capitalization of $496.74 million, a price-to-earnings ratio of 13.83 and a beta of 0.65. The company’s 50 day moving average price is $255.99 and its 200-day moving average price is $256.51.

Investors Title (NASDAQ:ITIC) last posted its quarterly earnings results on Tuesday, February 17th. The insurance provider reported $3.97 earnings per share (EPS) for the quarter. Investors Title had a net margin of 13.15% and a return on equity of 13.72%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Investors Title in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy”.

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. It offers services in connection with tax-deferred exchanges of like-kind property; acts as a qualified intermediary in tax-deferred exchanges of property; coordinates the exchange aspects of the real estate transaction, such as drafting standard exchange documents, holding the exchange funds between the sale of the old property and the purchase of the new property, and accepting the formal identification of the replacement property.