Breaking Short Interest: What’s Signet Jewelers Limited (NYSE:SIG) Upside After This Short Interest Increase?

November 16, 2016 - By Marguerite Chambers   ·   0 Comments

Breaking Short Interest: What's Signet Jewelers Limited (NYSE:SIG) Upside After This Short Interest Increase?

The stock of Signet Jewelers Limited (NYSE:SIG) registered an increase of 8.65% in short interest. SIG’s total short interest was 8.80M shares in November as published by FINRA. Its up 8.65% from 8.10 million shares, reported previously. With 1.55M shares average volume, it will take short sellers 6 days to cover their SIG’s short positions. The short interest to Signet Jewelers Limited’s float is 14.37%. The stock decreased 3.07% or $2.84 during the last trading session, hitting $89.6. Signet Jewelers Ltd. (NYSE:SIG) has declined 20.43% since April 14, 2016 and is downtrending. It has underperformed by 25.11% the S&P500.

Signet Jewelers Limited is a retailer of jewelry, watches and associated services in the United States, Canada and the United Kingdom. The company has a market cap of $6.95 billion. The Company’s divisions are the Sterling Jewelers division, the UK Jewelry division, the Zale division, which consists of Zale Jewelry and Piercing Pagoda, and the Other segment. It has a 13.67 P/E ratio. The Other segment includes subsidiaries involved in purchasing and conversion of rough diamonds to polished stones.

Insitutional Activity: The institutional sentiment decreased to 0.97 in Q2 2016. Its down 0.28, from 1.25 in 2016Q1. The ratio fall, as 84 funds sold all Signet Jewelers Ltd. shares owned while 114 reduced positions. 56 funds bought stakes while 136 increased positions. They now own 77.93 million shares or 3.70% more from 75.15 million shares in 2016Q1.
Janus Cap Mngmt Ltd Liability reported 249,190 shares or 0.02% of all its holdings. Elk Creek Prtn Limited Liability accumulated 0.25% or 34,857 shares. Moreover, Advantus Cap Mgmt Incorporated has 0.02% invested in Signet Jewelers Ltd. (NYSE:SIG) for 7,482 shares. Norinchukin Fincl Bank The has 4,091 shares for 0.01% of their US portfolio. The California-based California Public Employees Retirement System has invested 0.02% in Signet Jewelers Ltd. (NYSE:SIG). Point72 Asset Mngmt Ltd Partnership owns 1.06M shares or 0.6% of their US portfolio. Birch Run Capital Advsr Limited Partnership accumulated 1.96% or 60,000 shares. Fifth Third Comml Bank holds 256,066 shares or 0.18% of its portfolio. Westport Resources Mgmt has 0.03% invested in the company for 1,200 shares. The Michigan-based World Asset Mgmt has invested 0.02% in Signet Jewelers Ltd. (NYSE:SIG). Regentatlantic Capital Limited Liability accumulated 0.04% or 4,962 shares. Hengistbury Inv Prtn Llp reported 472,000 shares or 7.73% of all its holdings. Dekabank Deutsche Girozentrale last reported 0% of its portfolio in the stock. Ladenburg Thalmann Financial Serv Inc last reported 0% of its portfolio in the stock. Tudor Et Al holds 0.02% or 12,432 shares in its portfolio.

Insider Transactions: Since June 7, 2016, the stock had 16 insider buys, and 0 insider sales for $1.35 million net activity. $89,910 worth of Signet Jewelers Ltd. (NYSE:SIG) shares were bought by McCluskey Helen. $39,319 worth of Signet Jewelers Ltd. (NYSE:SIG) was bought by Becker Steven J. on Tuesday, June 14. Stack Robert also bought $89,550 worth of Signet Jewelers Ltd. (NYSE:SIG) shares. On Monday, June 13 the insider Hrabak Edward bought $35,300. PLASKETT THOMAS G had bought 300 shares worth $26,664 on Friday, July 22. Stitzer H. Todd had bought 3,480 shares worth $300,150. Brenner Philip Joseph bought $73,092 worth of Signet Jewelers Ltd. (NYSE:SIG) on Monday, June 13.

Signet Jewelers Ltd. (NYSE:SIG) Ratings Coverage

Out of 15 analysts covering Signet Jewelers (NYSE:SIG), 10 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 67% are positive. Signet Jewelers has been the topic of 32 analyst reports since July 28, 2015 according to StockzIntelligence Inc. Deutsche Bank maintained it with “Buy” rating and $9700 target price in Tuesday, July 28 report. The firm has “Market Perform” rating by Cowen & Co given on Tuesday, September 13. The stock has “Outperform” rating given by RBC Capital Markets on Friday, August 26. The stock has “Accumulate” rating given by Johnson Rice on Monday, August 29. As per Friday, May 27, the company rating was maintained by Telsey Advisory Group. As per Friday, August 26, the company rating was maintained by Cowen & Co. RBC Capital Markets initiated the shares of SIG in a report on Thursday, September 10 with “Outperform” rating. On Friday, August 26 the stock rating was maintained by Telsey Advisory Group with “Outperform”. The stock of Signet Jewelers Ltd. (NYSE:SIG) earned “Outperform” rating by Wells Fargo on Thursday, October 22. RBC Capital Markets maintained Signet Jewelers Ltd. (NYSE:SIG) rating on Tuesday, June 28. RBC Capital Markets has “Outperform” rating and $120 price target.

SIG Company Profile

Signet Jewelers Limited, incorporated on June 25, 2008, is a retailer of jewelry, watches and associated services in the United States, Canada and the United Kingdom. The Company’s divisions are the Sterling Jewelers division, the UK Jewelry division, the Zale division, which consists of Zale Jewelry and Piercing Pagoda, and the Other segment. The Other segment includes subsidiaries involved in purchasing and conversion of rough diamonds to polished stones. The Firm operates retail jewelry stores in various real estate formats, including mall-based, free-standing, strip center and outlet store locations. The Firm operates approximately 3,620 stores and kiosks across over five million square feet of retail space.

More notable recent Signet Jewelers Ltd. (NYSE:SIG) news were published by: Fool.com which released: “Why Signet Jewelers Ltd. Stock Slumped Today” on May 26, 2016, also Forbes.com with their article: “Signet Jewelers Enters Oversold Territory” published on June 02, 2016, Wsj.com published: “Signet Jewelers CEO: No Evidence of Diamond-Swapping” on June 15, 2016. More interesting news about Signet Jewelers Ltd. (NYSE:SIG) were released by: Businesswire.com and their article: “Federman & Sherwood Investigates Signet Jewelers Ltd. for Possible Violations …” published on June 09, 2016 as well as Reuters.com‘s news article titled: “Signet Jewelers reports surprise drop in comparable sales” with publication date: August 25, 2016.

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By Marguerite Chambers


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