Short Interest in Magyar Bancorp, Inc. (NASDAQ:MGYR) Drops By 40.3%

Magyar Bancorp, Inc. (NASDAQ:MGYR) saw a significant decrease in short interest in the month of October. As of October 15th, there was short interest totalling 3,700 shares, a decrease of 40.3% from the September 30th total of 6,200 shares. Based on an average trading volume of 5,200 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Magyar Bancorp stock. Private Advisor Group LLC bought a new stake in Magyar Bancorp, Inc. (NASDAQ:MGYR) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 11,064 shares of the bank’s stock, valued at approximately $136,000. Private Advisor Group LLC owned about 0.17% of Magyar Bancorp at the end of the most recent reporting period. Hedge funds and other institutional investors own 46.32% of the company’s stock.

Magyar Bancorp Price Performance

Shares of Magyar Bancorp stock opened at $12.37 on Friday. Magyar Bancorp has a 1 year low of $9.00 and a 1 year high of $12.71. The stock has a market cap of $80.28 million, a price-to-earnings ratio of 10.57 and a beta of 0.27. The firm’s 50-day moving average is $12.32 and its two-hundred day moving average is $11.71.

Magyar Bancorp (NASDAQ:MGYR) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $0.27 earnings per share (EPS) for the quarter. The company had revenue of $7.19 million for the quarter. Magyar Bancorp had a net margin of 15.19% and a return on equity of 6.94%.

Magyar Bancorp Company Profile

Magyar Bancorp, Inc operates as the holding company for Magyar Bank that provides various consumer and commercial banking services to individuals, businesses, and nonprofit organizations in New Jersey, the United States. It accepts various deposit accounts, including demand, savings, NOW, money market, and retirement accounts, as well as certificates of deposit.