Short Interest in Franklin Covey Company (NYSE:FC) Increases By 20.0%

Franklin Covey Company (NYSE:FC) was the recipient of a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 1,428,258 shares, a growth of 20.0% from the February 12th total of 1,189,918 shares. Approximately 14.6% of the shares of the company are sold short. Based on an average trading volume of 172,268 shares, the short-interest ratio is currently 8.3 days. Based on an average trading volume of 172,268 shares, the short-interest ratio is currently 8.3 days. Approximately 14.6% of the shares of the company are sold short.

Franklin Covey Price Performance

NYSE:FC traded up $0.02 during trading hours on Tuesday, reaching $12.01. 344,917 shares of the company were exchanged, compared to its average volume of 178,318. The firm has a market cap of $138.72 million, a price-to-earnings ratio of -100.07, a PEG ratio of 0.73 and a beta of 0.74. The stock has a 50 day simple moving average of $17.04 and a 200 day simple moving average of $17.26. Franklin Covey has a 52-week low of $11.16 and a 52-week high of $30.18.

Franklin Covey (NYSE:FC) last announced its quarterly earnings data on Wednesday, January 7th. The business services provider reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.30). Franklin Covey had a negative net margin of 0.54% and a positive return on equity of 9.98%. The company had revenue of $64.05 million for the quarter, compared to analysts’ expectations of $64.77 million. During the same period in the prior year, the firm earned $0.20 earnings per share. On average, analysts predict that Franklin Covey will post 0.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Franklin Covey

Several hedge funds and other institutional investors have recently modified their holdings of the company. Alliancebernstein L.P. lifted its position in shares of Franklin Covey by 70.4% during the third quarter. Alliancebernstein L.P. now owns 1,052,680 shares of the business services provider’s stock worth $20,433,000 after purchasing an additional 434,965 shares in the last quarter. Punch & Associates Investment Management Inc. increased its stake in Franklin Covey by 0.3% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 591,318 shares of the business services provider’s stock worth $11,477,000 after buying an additional 1,811 shares during the period. Federated Hermes Inc. lifted its holdings in Franklin Covey by 83.9% in the 4th quarter. Federated Hermes Inc. now owns 376,393 shares of the business services provider’s stock worth $6,316,000 after buying an additional 171,744 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Franklin Covey by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 314,626 shares of the business services provider’s stock worth $7,181,000 after buying an additional 2,118 shares in the last quarter. Finally, Millennium Management LLC boosted its position in Franklin Covey by 886.1% in the 3rd quarter. Millennium Management LLC now owns 259,618 shares of the business services provider’s stock valued at $5,039,000 after buying an additional 233,291 shares during the last quarter. 69.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Barrington Research increased their price objective on Franklin Covey from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $26.00.

About Franklin Covey

Franklin Covey Co (NYSE:FC) is a global consulting and training firm specializing in performance improvement solutions for individuals and organizations. The company offers a range of services, including leadership development, productivity tools, execution frameworks and assessments designed to foster personal effectiveness and drive business results. Its flagship offerings integrate training workshops, digital resources and coaching to support clients in areas such as strategic planning, team productivity and change management.

The origins of Franklin Covey trace back to the merger in 1997 of Franklin Quest Co, founded in 1983 by Hyrum W.