Genworth Financial, Inc. (NYSE:GNW) Short Interest Down 33.4% in August

Genworth Financial, Inc. (NYSE:GNW) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 5,560,000 shares, a drop of 33.4% from the August 15th total of 8,350,000 shares. Based on an average trading volume of 6,140,000 shares, the short-interest ratio is currently 0.9 days. Approximately 1.4% of the shares of the stock are sold short. Approximately 1.4% of the shares of the stock are sold short. Based on an average trading volume of 6,140,000 shares, the short-interest ratio is currently 0.9 days.

Genworth Financial Trading Down 0.1%

Shares of GNW opened at $8.80 on Monday. The stock has a fifty day moving average of $8.13 and a two-hundred day moving average of $7.38. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market capitalization of $3.61 billion, a PE ratio of 19.56 and a beta of 0.94. Genworth Financial has a fifty-two week low of $5.99 and a fifty-two week high of $8.85.

Genworth Financial (NYSE:GNW) last issued its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.11. Genworth Financial had a return on equity of 1.91% and a net margin of 2.61%.The company had revenue of $1.80 billion during the quarter.

Insider Activity

In other news, CEO Rohit Gupta sold 86,406 shares of Genworth Financial stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $8.68, for a total transaction of $750,004.08. Following the completion of the sale, the chief executive officer directly owned 794,630 shares in the company, valued at approximately $6,897,388.40. This trade represents a 9.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Genworth Financial

Hedge funds and other institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC acquired a new position in shares of Genworth Financial during the 2nd quarter valued at $44,000. Byrne Asset Management LLC lifted its holdings in shares of Genworth Financial by 69.5% during the 1st quarter. Byrne Asset Management LLC now owns 7,595 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 3,115 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Genworth Financial by 140.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,063 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 4,708 shares in the last quarter. Blueshift Asset Management LLC acquired a new position in shares of Genworth Financial during the 1st quarter valued at $71,000. Finally, Seven Mile Advisory acquired a new position in shares of Genworth Financial during the 2nd quarter valued at $78,000. Institutional investors and hedge funds own 81.85% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on GNW shares. Keefe, Bruyette & Woods raised their price objective on shares of Genworth Financial from $9.00 to $9.50 and gave the stock an “outperform” rating in a research note on Wednesday, July 9th. Wall Street Zen cut shares of Genworth Financial from a “hold” rating to a “sell” rating in a research note on Sunday, September 7th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $9.50.

Genworth Financial Company Profile

Genworth Financial, Inc, together with its subsidiaries, provides mortgage and long-term care insurance products in the United States and internationally. It operates in three segments: Enact, Long-Term Care Insurance, and Life and Annuities. The Enact segment offers private mortgage insurance products primarily insuring prime-based, individually underwritten residential mortgage loans; and pool mortgage insurance products.