Commercial Vehicle Group, Inc. (NASDAQ:CVGI) was the target of a significant drop in short interest in June. As of June 30th, there was short interest totalling 580,600 shares, a drop of 12.8% from the May 30th total of 665,500 shares. Based on an average daily volume of 326,400 shares, the short-interest ratio is presently 1.8 days. Currently, 2.1% of the shares of the stock are sold short.
A number of hedge funds have recently made changes to their positions in CVGI. Royce & Associates LP boosted its position in shares of Commercial Vehicle Group by 15.3% during the first quarter. Royce & Associates LP now owns 2,240,660 shares of the company’s stock worth $17,186,000 after purchasing an additional 297,233 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Commercial Vehicle Group by 82.0% during the first quarter. Assenagon Asset Management S.A. now owns 439,546 shares of the company’s stock worth $3,371,000 after purchasing an additional 197,995 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Commercial Vehicle Group during the first quarter worth $784,000. Municipal Employees Retirement System of Michigan bought a new position in shares of Commercial Vehicle Group during the fourth quarter worth $515,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Commercial Vehicle Group by 43.4% during the fourth quarter. Bank of New York Mellon Corp now owns 280,831 shares of the company’s stock worth $1,601,000 after purchasing an additional 84,970 shares in the last quarter. 80.82% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on CVGI. Zacks Investment Research lowered shares of i3 Verticals from a “hold” rating to a “sell” rating in a report on Friday, March 15th. ValuEngine raised shares of Zuora from a “hold” rating to a “buy” rating in a research note on Saturday, July 6th. Finally, BidaskClub raised shares of Zillow Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 2nd.
CVGI stock traded up $0.01 during midday trading on Friday, reaching $7.62. The company’s stock had a trading volume of 187,092 shares, compared to its average volume of 248,609. Commercial Vehicle Group has a 52 week low of $5.35 and a 52 week high of $10.28. The stock has a market capitalization of $238.19 million, a PE ratio of 5.44 and a beta of 2.66. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.68 and a current ratio of 2.38. The stock’s 50-day moving average price is $7.09.
Commercial Vehicle Group (NASDAQ:CVGI) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.36 earnings per share (EPS) for the quarter. Commercial Vehicle Group had a net margin of 4.95% and a return on equity of 38.85%. The firm had revenue of $243.16 million for the quarter.
About Commercial Vehicle Group
Commercial Vehicle Group, Inc, together with its subsidiaries, designs, engineers, produces, and sells a range of cab related products and systems in North America, Europe, and the Asia Pacific regions. It operates through two segments, Electrical Systems and Global Seating. The Electrical Systems segment electronic provides wire harness assemblies that function as current carrying devices used to provide electrical interconnections for gauges, lights, control functions, power circuits, powertrain and transmission sensors, emissions systems, and other electronic applications on commercial vehicles; and panel assemblies and cabinets.
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