Pico Holdings Inc (NASDAQ:PICO) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 165,800 shares, a decrease of 17.9% from the July 31st total of 202,000 shares. Currently, 0.8% of the shares of the company are short sold. Based on an average trading volume of 72,600 shares, the days-to-cover ratio is currently 2.3 days.
Shares of PICO stock traded down $0.03 during trading hours on Friday, reaching $10.48. The company had a trading volume of 35,039 shares, compared to its average volume of 70,192. Pico has a 12-month low of $8.85 and a 12-month high of $12.63. The stock has a fifty day moving average of $9.87 and a 200-day moving average of $10.64.
Pico (NASDAQ:PICO) last announced its quarterly earnings data on Thursday, August 8th. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter. The firm had revenue of $2.66 million during the quarter.
Separately, TheStreet cut Pico from a “c+” rating to a “d+” rating in a report on Monday, August 19th.
In other Pico news, Director Gregory Bylinsky purchased 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average cost of $9.49 per share, with a total value of $474,500.00. Following the purchase, the director now owns 15,011 shares of the company’s stock, valued at $142,454.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eric H. Speron acquired 4,305 shares of Pico stock in a transaction on Wednesday, September 11th. The shares were purchased at an average price of $10.49 per share, for a total transaction of $45,159.45. Following the completion of the acquisition, the director now directly owns 65,305 shares in the company, valued at $685,049.45. The disclosure for this purchase can be found here. In the last three months, insiders acquired 60,567 shares of company stock worth $580,934. 10.40% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in PICO. Bard Associates Inc. lifted its position in shares of Pico by 0.9% during the 2nd quarter. Bard Associates Inc. now owns 122,584 shares of the financial services provider’s stock valued at $1,424,000 after acquiring an additional 1,055 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Pico by 10.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 13,250 shares of the financial services provider’s stock valued at $154,000 after acquiring an additional 1,300 shares in the last quarter. KBC Group NV lifted its holdings in Pico by 1.4% in the 2nd quarter. KBC Group NV now owns 198,367 shares of the financial services provider’s stock worth $2,305,000 after buying an additional 2,704 shares in the last quarter. Northern Trust Corp lifted its holdings in Pico by 1.3% in the 2nd quarter. Northern Trust Corp now owns 244,840 shares of the financial services provider’s stock worth $2,845,000 after buying an additional 3,131 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Pico by 572.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,146 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 3,529 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.
Pico Company Profile
PICO Holdings, Inc, together with its subsidiaries, engages in the water resource and water storage activities in the southwestern United States. It engages in selling its water rights and storage credits in Arizona, Colorado, Nevada, and New Mexico. The Company sells its water rights to real estate developers, power generating facilities, or other commercial and industrial users, as well as to water utilities, municipalities, and other government agencies; and sells its stored water to state agencies, commercial developers, or municipalities for their commercial projects or communities.
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