Fanhua Inc (FANH) Sees Large Increase in Short Interest
Fanhua Inc (NASDAQ:FANH) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 2,061,653 shares, an increase of 137.7% from the August 15th total of 867,365 shares. Based on an average daily volume of 793,935 shares, the short-interest ratio is presently 2.6 days. Approximately 3.3% of the company’s shares are sold short.
Several research firms have recently commented on FANH. BidaskClub cut shares of Fanhua from a “buy” rating to a “hold” rating in a research report on Thursday, June 28th. JPMorgan Chase & Co. raised their target price on shares of Fanhua from $32.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 23rd.
Large investors have recently bought and sold shares of the company. Jane Street Group LLC purchased a new position in Fanhua during the 1st quarter valued at about $247,000. Tower Research Capital LLC TRC lifted its position in Fanhua by 1,368.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,983 shares of the financial services provider’s stock valued at $342,000 after acquiring an additional 11,167 shares during the period. Yiheng Capital LLC purchased a new position in Fanhua during the 1st quarter valued at about $391,000. NINE MASTS CAPITAL Ltd purchased a new position in Fanhua during the 2nd quarter valued at about $756,000. Finally, Korea Investment CORP purchased a new position in Fanhua during the 1st quarter valued at about $3,467,000. 34.70% of the stock is owned by hedge funds and other institutional investors.
Fanhua (NASDAQ:FANH) last posted its earnings results on Monday, August 20th. The financial services provider reported $0.40 EPS for the quarter. Fanhua had a net margin of 15.13% and a return on equity of 13.50%. The firm had revenue of $146.91 million during the quarter.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 19th. Stockholders of record on Wednesday, September 5th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 3.88%.
Fanhua Company Profile
Fanhua Inc distributes insurance products in China. It operates through two segments, Insurance Agency and Claims Adjusting. The Insurance Agency segment provides property and casualty insurance products, including automobile, individual accident, travel, disability income, commercial property, construction, and other property and casualty products; and life insurance products, such as individual health, individual whole life, individual term life, individual endowment life, and individual annuity, as well as group life and participating insurance products.
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