Essendant Inc (ESND) Short Interest Down 32.0% in January

Essendant Inc (NASDAQ:ESND) was the recipient of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 366,198 shares, a decline of 32.0% from the January 15th total of 538,742 shares. Currently, 2.0% of the shares of the company are short sold. Based on an average daily volume of 224,613 shares, the short-interest ratio is presently 1.6 days.

A number of analysts have issued reports on ESND shares. BidaskClub downgraded shares of Essendant from a “hold” rating to a “sell” rating in a report on Tuesday, December 4th. TheStreet downgraded shares of Essendant from a “c” rating to a “d+” rating in a report on Friday, January 25th.

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NASDAQ ESND opened at $12.80 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.96 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $481.79 million, a price-to-earnings ratio of 1,280.00 and a beta of 0.80. Essendant has a 12-month low of $7.20 and a 12-month high of $17.08.

Institutional investors have recently modified their holdings of the company. Harvest Management LLC lifted its holdings in shares of Essendant by 41.0% during the 3rd quarter. Harvest Management LLC now owns 14,100 shares of the company’s stock worth $181,000 after acquiring an additional 4,100 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Essendant by 54.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,642,750 shares of the company’s stock worth $21,060,000 after acquiring an additional 582,069 shares during the period. Modera Wealth Management LLC bought a new stake in shares of Essendant during the 3rd quarter worth approximately $153,000. Paloma Partners Management Co bought a new stake in shares of Essendant during the 3rd quarter worth approximately $665,000. Finally, Ancora Advisors LLC bought a new stake in shares of Essendant during the 3rd quarter worth approximately $216,000. 81.96% of the stock is owned by institutional investors.

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Essendant Company Profile

Essendant Inc operates as a distributor of workplace items in the United States and internationally. It offers janitorial and sanitation supplies, breakroom items, foodservice consumables, safety and security items, and paper and packaging supplies. The company also provides technology products, such as computer accessories, imaging supplies, and data storage products; and computer hardware, including printers and other peripherals.

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