Birks Group Inc. (NYSEAMERICAN:BGI) Sees Significant Drop in Short Interest

Birks Group Inc. (NYSEAMERICAN:BGIGet Rating) was the target of a significant decrease in short interest during the month of May. As of May 15th, there was short interest totalling 11,900 shares, a decrease of 71.0% from the April 30th total of 41,000 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average daily volume of 69,700 shares, the days-to-cover ratio is presently 0.2 days.

Several institutional investors have recently made changes to their positions in the company. Centerpoint Advisors LLC lifted its holdings in shares of Birks Group by 38.5% in the first quarter. Centerpoint Advisors LLC now owns 18,000 shares of the company’s stock worth $93,000 after buying an additional 5,000 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Birks Group by 16.7% in the fourth quarter. Renaissance Technologies LLC now owns 97,806 shares of the company’s stock worth $474,000 after buying an additional 14,010 shares in the last quarter. Finally, WMS Partners LLC purchased a new stake in shares of Birks Group in the third quarter worth about $42,000. 6.41% of the stock is currently owned by hedge funds and other institutional investors.

NYSEAMERICAN BGI traded up $0.11 during trading on Friday, hitting $5.17. 16,902 shares of the company’s stock traded hands, compared to its average volume of 82,063. Birks Group has a 12-month low of $2.10 and a 12-month high of $8.77.

Birks Group Company Profile (Get Rating)

Birks Group Inc designs, develops, manufactures, and retails fine jewelry, timepieces, sterling and plated silverware, and gifts in the United States and Canada. The company operates through two segments, Retail and Other. It offers various merchandise, including designer jewelry, diamonds, gemstone and precious metal jewelry, rings, wedding bands, earrings, bracelets, necklaces, charms, and pearls.

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