ASGN Incorporated (NYSE:ASGN – Get Free Report) was the recipient of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 1,960,000 shares, a growth of 6.5% from the December 31st total of 1,840,000 shares. Based on an average daily trading volume, of 348,900 shares, the short-interest ratio is currently 5.6 days. Approximately 4.6% of the company’s stock are short sold.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on ASGN shares. StockNews.com downgraded shares of ASGN from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. BMO Capital Markets raised shares of ASGN from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $96.00 to $100.00 in a research report on Friday, November 22nd. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $115.00 target price on shares of ASGN in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $101.75.
Get Our Latest Research Report on ASGN
ASGN Trading Up 0.0 %
Insider Buying and Selling
In related news, CEO Theodore S. Hanson sold 1,200 shares of ASGN stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $99.64, for a total transaction of $119,568.00. Following the sale, the chief executive officer now owns 288,855 shares of the company’s stock, valued at $28,781,512.20. The trade was a 0.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.20% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of ASGN. Reinhart Partners LLC. boosted its holdings in shares of ASGN by 7.2% in the 3rd quarter. Reinhart Partners LLC. now owns 588,999 shares of the business services provider’s stock valued at $54,912,000 after buying an additional 39,607 shares during the period. Entropy Technologies LP acquired a new position in shares of ASGN in the 4th quarter valued at about $299,000. Argent Capital Management LLC boosted its holdings in shares of ASGN by 31.6% in the 4th quarter. Argent Capital Management LLC now owns 13,898 shares of the business services provider’s stock valued at $1,158,000 after buying an additional 3,339 shares during the period. Handelsbanken Fonder AB boosted its holdings in shares of ASGN by 28.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 11,823 shares of the business services provider’s stock valued at $1,102,000 after buying an additional 2,600 shares during the period. Finally, Cim Investment Management Inc. acquired a new position in shares of ASGN in the 3rd quarter valued at about $205,000. 95.36% of the stock is owned by institutional investors and hedge funds.
About ASGN
ASGN Incorporated engages in the provision of information technology (IT) services and solutions in the technology, digital, and creative fields for commercial and government sectors in the United States, Canada, and Europe. It operates through two segments: Commercial and Federal Government. The Commercial Segment provides consulting, creative digital marketing, and permanent placement services primarily to enterprise clients.
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