Flexsteel Industries, Inc. (NASDAQ:FLXS – Get Free Report) was the target of a large drop in short interest in August. As of August 15th, there was short interest totalling 115,400 shares, a drop of 11.8% from the July 31st total of 130,800 shares. Based on an average daily volume of 39,600 shares, the days-to-cover ratio is currently 2.9 days. Currently, 3.2% of the shares of the stock are sold short.
Institutional Investors Weigh In On Flexsteel Industries
A number of hedge funds have recently added to or reduced their stakes in FLXS. American Century Companies Inc. grew its holdings in Flexsteel Industries by 185.1% during the 2nd quarter. American Century Companies Inc. now owns 46,521 shares of the company’s stock worth $1,445,000 after acquiring an additional 30,203 shares during the last quarter. Nations Financial Group Inc. IA ADV bought a new stake in Flexsteel Industries during the 2nd quarter worth about $843,000. Bank of New York Mellon Corp bought a new stake in Flexsteel Industries during the 2nd quarter worth about $425,000. Acadian Asset Management LLC bought a new stake in Flexsteel Industries during the 1st quarter worth about $435,000. Finally, Heron Bay Capital Management bought a new position in shares of Flexsteel Industries in the 1st quarter valued at about $298,000. Institutional investors own 36.27% of the company’s stock.
Flexsteel Industries Price Performance
NASDAQ:FLXS traded down $1.31 during mid-day trading on Tuesday, reaching $40.07. 19,192 shares of the company were exchanged, compared to its average volume of 32,130. Flexsteel Industries has a 12 month low of $15.67 and a 12 month high of $43.60. The company has a fifty day moving average of $35.90 and a 200 day moving average of $35.75. The company has a quick ratio of 0.99, a current ratio of 2.79 and a debt-to-equity ratio of 0.10. The stock has a market cap of $206.60 million, a PE ratio of 13.58, a PEG ratio of 1.15 and a beta of 0.49.
Flexsteel Industries Announces Dividend
Analyst Ratings Changes
Separately, StockNews.com upgraded shares of Flexsteel Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st.
View Our Latest Stock Analysis on Flexsteel Industries
Flexsteel Industries Company Profile
Flexsteel Industries, Inc, together with its subsidiaries, operates as a manufacturer, importer, and markets of upholstered furniture for residential and contract markets in the United States. It provides upholstered furniture, such as sofas, loveseats, chairs, reclining rocking chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, kitchen storage, bedroom furniture, and outdoor furniture.
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