Bears turning chicken Short interest data is an interesting double-edge sword. On the one hand, its disconcerting to see high numbers, evidence that many investors expect a decline in stock you may own or in which you have an interest. On the other hand, your share ownership could be that much more profitable if things go well for the company and the short sellers need to close positions. The list below identifies companies appearing in at least one Reuters Select screen which have also experienced a meaningful decline in short interest. http://blogs.reuters.com/2006/11/10/bears-turning-chicken?src=daiblog Bears turning chicken
Short interest data is an interesting double-edge sword. On the one hand, it’s disconcerting to see high numbers, evidence that many investors expect a decline in stock you may own or in which you have an interest. On the other hand, your share ownership could be that much more profitable if things go well for the company and the short sellers need to close positions. The list below identifies companies appearing in at least one Reuters Select screen which have also experienced a meaningful decline in short interest.
This is not to be taken as a set of Buy recommendations. There’s no assurance that those who are covering short positions are right. Perhaps the first decision to go short in the first place was correct and that they’d be better off being patient. Ultimately, though, stock selection is a balancing of probabilities.
Among all Reuters Select stocks, we narrowed the list to 60 by identifying those for which short interest two months ago amounted to at least 10 percent of the float. The list below identifies those that then had the largest percent decline in short interest (again measured as a percent of float) in the latest month.
| Reuters Select stocks with recent short covering | ||
| Company | Screen(s) | % decline in shiort interest |
| Mobile TeleSystems (MBT) | Industry Leaders | -49.8 |
| Provider mobile cellular communications services in the Russian Federation and the Commonwealth of Independent States countries. | ||
| Deckers Outdoor (DECK) | Sales Growth Leaders, High P/E Ratios |
-28.9 |
| Designer, producer and brand manager of footwear and the category creator in the sport sandal and luxury sheepskin footwear segments. Company markets its products under three brands: Teva, UCG and Simple. | ||
| Homex Development (HXM) | Relative Values | -26.9 |
| Vertically integrated home development company engaged in the development, construction and sale of entry level, middle-income and upper-income housing in Mexico. | ||
| First Marblehead Corp. (FMD) | Relative Growth | -24.7 |
| Outsourcing services for private education lending in the United States through an integrated suite of design, implementation and securitization services for student loan programs. | ||
| Digital River (DRIV) | Relative Momentum | -21.2 |
| Outsourced e-commerce solutions; store design, development and hosting, store merchandising and optimization, order management, fraud prevention screening, export controls and management, tax management, digital product delivery via download, physical product fulfillment, multi-lingual customer service, e-mail marketing, Website optimization, Web analytics and reporting. | ||
| Hibbett Sporting Goods (HIBB) | Favored Value Plays | -20.8 |
| Sporting goods retail stores in small to mid-sized markets predominately in the Sunbelt, Mid-Atlantic and Midwest. | ||
| TradeStation Group (TRAD) | Return On Investment | -16.6 |
| Brokerage services (TradeStation Securities), and software products (TradeStation Technologies). Company’s core product/service is TradeStation, a direct market access (DMA) electronic trading platform that enables traders to test and automate rule-based or quantitative trading strategies across multiple asset classes, such as equities, equity options and futures. | ||
| Greenbrier Companies (GBX) | Consensus Choices | -16.5 |
| Railroad freight car equipment in North America and Europe. It provides leasing and other services to the railroad and related transportation industries in North America. | ||
| Strayer Education (STRA) | Relative Momentum | -16.1 |
| For-profit, post-secondary education services corporation. It offers academic programs through its wholly owned subsidiary Strayer University, Inc., both in traditional classroom courses and through Strayer University Online. The Strayer University is an institution of higher learning that offers undergraduate and graduate programs in business administration, accounting, information technology education, and public administrations. | ||
| bebe stores (BEBE) | High P/E Ratios | -15.8 |
| Retails contemporary women’s apparel and accessories. Target customer is a 21 to 35-year-old woman. Product offering includes a range of separates, tops, sweaters, dresses, active wear and accessories in the lifestyle categories. The Company designs and develops the majority of its merchandise inhouse. | ||
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Ref: STRA
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- Posted by OlgaJay