Systemax Inc. (NYSE:SYX) saw a significant increase in short interest in the month of December. As of December 13th, there was short interest totalling 52,000 shares, an increase of 22.1% from the November 28th total of 42,600 shares. Based on an average daily trading volume, of 47,400 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.4% of the company’s shares are short sold.
In other Systemax news, Director Lawrence P. Reinhold sold 3,583 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $25.00, for a total value of $89,575.00. Following the completion of the transaction, the director now directly owns 183,154 shares in the company, valued at $4,578,850. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lawrence P. Reinhold sold 1,304 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $25.00, for a total transaction of $32,600.00. Following the completion of the transaction, the director now owns 183,154 shares of the company’s stock, valued at $4,578,850. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,675 shares of company stock valued at $1,191,875. Corporate insiders own 67.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Nuveen Asset Management LLC bought a new position in Systemax during the second quarter valued at approximately $2,767,000. BlackRock Inc. raised its position in Systemax by 9.3% during the second quarter. BlackRock Inc. now owns 904,143 shares of the company’s stock valued at $20,037,000 after acquiring an additional 76,573 shares in the last quarter. Grandeur Peak Global Advisors LLC raised its position in Systemax by 32.9% during the second quarter. Grandeur Peak Global Advisors LLC now owns 286,298 shares of the company’s stock valued at $6,344,000 after acquiring an additional 70,822 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Systemax by 81.8% during the third quarter. Assenagon Asset Management S.A. now owns 139,269 shares of the company’s stock valued at $3,065,000 after acquiring an additional 62,661 shares in the last quarter. Finally, Morgan Stanley raised its position in Systemax by 674.1% during the second quarter. Morgan Stanley now owns 39,983 shares of the company’s stock valued at $886,000 after acquiring an additional 34,818 shares in the last quarter. 29.08% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE SYX traded down $0.17 during mid-day trading on Friday, reaching $25.48. The company had a trading volume of 32,409 shares, compared to its average volume of 58,510. The stock has a fifty day moving average of $23.65 and a two-hundred day moving average of $21.93. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.17 and a current ratio of 1.77. The company has a market capitalization of $962.67 million, a price-to-earnings ratio of 19.14 and a beta of 0.11. Systemax has a 12-month low of $18.49 and a 12-month high of $26.57.
Systemax (NYSE:SYX) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The company had revenue of $243.90 million during the quarter, compared to analysts’ expectations of $252.00 million. Systemax had a return on equity of 33.72% and a net margin of 5.32%. Sell-side analysts forecast that Systemax will post 1.23 earnings per share for the current fiscal year.
A number of research firms have recently issued reports on SYX. TheStreet raised shares of Systemax from a “c+” rating to a “b-” rating in a research report on Wednesday, October 2nd. Zacks Investment Research raised shares of Systemax from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd.
About Systemax
Systemax Inc operates as a direct marketer of brand name and private label industrial and business equipment and supplies in North America. It sells a range of maintenance, repair, and operation products, including storage and shelving, material handling, janitorial and maintenance products, furniture and office products, workbenches and shop desks, HVAC/R and fans, safety and security products, outdoor and grounds maintenance products, tools and instruments, and office and school supplies.
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