Vintage Wine Estates, Inc. (NASDAQ:VWE – Get Rating) saw a large growth in short interest in the month of December. As of December 30th, there was short interest totalling 1,530,000 shares, a growth of 27.5% from the December 15th total of 1,200,000 shares. Based on an average daily trading volume, of 339,000 shares, the days-to-cover ratio is presently 4.5 days. Approximately 5.0% of the company's shares are short sold.
Insider Transactions at Vintage Wine Estates
In related news, Director Paul S. Walsh bought 12,500 shares of the firm's stock in a transaction dated Thursday, December 1st. The stock was bought at an average cost of $3.60 per share, for a total transaction of $45,000.00. Following the transaction, the director now owns 48,456 shares of the company's stock, valued at $174,441.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Vintage Wine Estates news, Director Timothy D. Proctor bought 10,000 shares of Vintage Wine Estates stock in a transaction on Monday, November 14th. The shares were purchased at an average cost of $3.31 per share, for a total transaction of $33,100.00. Following the completion of the acquisition, the director now owns 27,072 shares in the company, valued at approximately $89,608.32. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Paul S. Walsh bought 12,500 shares of Vintage Wine Estates stock in a transaction on Thursday, December 1st. The shares were acquired at an average price of $3.60 per share, for a total transaction of $45,000.00. Following the completion of the acquisition, the director now owns 48,456 shares of the company's stock, valued at approximately $174,441.60. The disclosure for this purchase can be found here. Corporate insiders own 54.00% of the company's stock.
Get Vintage Wine Estates alerts:Institutional Trading of Vintage Wine Estates
A number of hedge funds and other institutional investors have recently modified their holdings of VWE. Shaolin Capital Management LLC acquired a new stake in shares of Vintage Wine Estates in the third quarter valued at about $178,000. State Street Corp increased its position in Vintage Wine Estates by 238.0% during the second quarter. State Street Corp now owns 363,333 shares of the company's stock worth $2,856,000 after buying an additional 255,832 shares during the last quarter. Northern Trust Corp increased its position in Vintage Wine Estates by 413.5% during the second quarter. Northern Trust Corp now owns 276,047 shares of the company's stock worth $2,169,000 after buying an additional 222,293 shares during the last quarter. Penn Capital Management Company LLC increased its position in Vintage Wine Estates by 67.9% during the first quarter. Penn Capital Management Company LLC now owns 300,073 shares of the company's stock worth $2,374,000 after buying an additional 121,365 shares during the last quarter. Finally, BlackRock Inc. increased its position in Vintage Wine Estates by 5.6% during the third quarter. BlackRock Inc. now owns 1,811,601 shares of the company's stock worth $5,018,000 after buying an additional 95,990 shares during the last quarter. Institutional investors and hedge funds own 41.25% of the company's stock.
Vintage Wine Estates Stock Performance
VWE opened at $3.06 on Friday. The business's 50-day moving average price is $3.29 and its two-hundred day moving average price is $4.35. Vintage Wine Estates has a 1 year low of $2.13 and a 1 year high of $11.15. The company has a market capitalization of $188.77 million, a price-to-earnings ratio of -101.97 and a beta of 1.52. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.49 and a quick ratio of 0.52.Vintage Wine Estates (NASDAQ:VWE – Get Rating) last released its earnings results on Wednesday, November 9th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.03). The company had revenue of $77.86 million during the quarter, compared to analyst estimates of $64.90 million. Vintage Wine Estates had a negative net margin of 0.76% and a positive return on equity of 7.53%. Equities analysts expect that Vintage Wine Estates will post 0.14 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms have weighed in on VWE. Telsey Advisory Group upgraded Vintage Wine Estates from a "market perform" rating to an "outperform" rating and set a $3.50 target price on the stock in a report on Friday, December 9th. DA Davidson downgraded Vintage Wine Estates from a "buy" rating to a "neutral" rating and set a $3.00 price target on the stock. in a research note on Thursday, November 10th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $5.00.
Vintage Wine Estates Company Profile
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Vintage Wine Estates, Inc produces and sells wines and craft spirits in the United States, Canada, and internationally. The company offers its products under the Layer Cake, Cameron Hughes, Clos Pegase, B.R. Cohn, Firesteed, Bar Dog, Kunde, Cherry Pie, and others. It also owns and operates hospitality facilities; and provides bottling, fulfillment, and storage services to other companies on a contract basis.
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