Tile Shop Holdings, Inc. (NASDAQ:TTS) was the recipient of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 2,365,692 shares, a growth of 29.4% from the February 15th total of 1,828,886 shares. Based on an average trading volume of 2,362,715 shares, the days-to-cover ratio is presently 1.0 days. Currently, 7.5% of the company’s shares are sold short.
A number of equities analysts have issued reports on the stock. Zacks Investment Research cut shares of Tile Shop from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 27th. BidaskClub cut shares of Tile Shop from a “sell” rating to a “strong sell” rating in a research report on Saturday, February 24th. Loop Capital decreased their price objective on shares of Tile Shop to $5.00 and set a “hold” rating on the stock in a research report on Thursday, February 22nd. Robert W. Baird restated a “neutral” rating and issued a $6.00 price objective (down previously from $10.00) on shares of Tile Shop in a research report on Thursday, February 22nd. Finally, Citigroup decreased their price objective on shares of Tile Shop from $10.00 to $6.60 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. Three analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Tile Shop presently has a consensus rating of “Hold” and a consensus price target of $7.09.
Tile Shop (TTS) opened at $5.90 on Wednesday. Tile Shop has a 52-week low of $5.15 and a 52-week high of $22.40. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.33 and a current ratio of 1.70. The stock has a market cap of $310.30, a PE ratio of 28.10, a P/E/G ratio of 1.27 and a beta of 1.96.
Tile Shop (NASDAQ:TTS) last announced its quarterly earnings results on Wednesday, February 21st. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.10). Tile Shop had a net margin of 3.14% and a return on equity of 11.11%. The company had revenue of $78.58 million for the quarter, compared to analysts’ expectations of $84.22 million. During the same quarter in the prior year, the firm earned $0.07 EPS. Tile Shop’s quarterly revenue was up 2.6% compared to the same quarter last year. research analysts forecast that Tile Shop will post 0.19 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Monday, March 5th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Friday, March 2nd. Tile Shop’s dividend payout ratio is currently 95.24%.
In other news, Director Todd Krasnow acquired 20,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were purchased at an average price of $5.55 per share, for a total transaction of $111,000.00. Following the completion of the transaction, the director now owns 518,578 shares of the company’s stock, valued at $2,878,107.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Peter H. Kamin acquired 240,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was purchased at an average price of $5.50 per share, for a total transaction of $1,320,000.00. Following the transaction, the director now directly owns 518,578 shares of the company’s stock, valued at approximately $2,852,179. The disclosure for this purchase can be found here. Insiders acquired 458,986 shares of company stock worth $2,556,864 in the last 90 days. Corporate insiders own 24.30% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cortina Asset Management LLC increased its position in shares of Tile Shop by 23.6% during the third quarter. Cortina Asset Management LLC now owns 405,655 shares of the company’s stock valued at $5,152,000 after buying an additional 77,350 shares during the period. BB&T Securities LLC purchased a new position in shares of Tile Shop during the third quarter valued at about $712,000. Diversified Investment Strategies LLC purchased a new position in shares of Tile Shop during the third quarter valued at about $2,708,000. Lapides Asset Management LLC purchased a new position in shares of Tile Shop during the third quarter valued at about $4,342,000. Finally, State Street Corp increased its position in shares of Tile Shop by 4.2% during the second quarter. State Street Corp now owns 780,395 shares of the company’s stock valued at $16,114,000 after buying an additional 31,140 shares during the period. Institutional investors own 64.76% of the company’s stock.
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About Tile Shop
Tile Shop Holdings, Inc operates as a specialty retailer of manufactured and natural stone tiles, setting and maintenance materials, and related accessories in the United States. It offers approximately 4,000 products, including ceramic, porcelain, glass, cement, wood look, and metal tiles; and marble, granite, quartz, sandstone, travertine, slate, and onyx tiles primarily under the Rush River and Fired Earth brand names.
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