Itochu Corp. (OTCMKTS:ITOCY) Short Interest Update

Itochu Corp. (OTCMKTS:ITOCY) was the target of a large decrease in short interest in June. As of June 15th, there was short interest totaling 71,229 shares, a decrease of 85.2% from the May 31st total of 479,668 shares. Based on an average daily volume of 1,013,167 shares, the short-interest ratio is presently 0.1 days. Currently, 0.0% of the shares of the company are sold short.

Institutional Trading of Itochu

Institutional investors and hedge funds have recently made changes to their positions in the business. OLD National Bancorp IN raised its stake in shares of Itochu by 898.1% during the 1st quarter. OLD National Bancorp IN now owns 15,551 shares of the company’s stock worth $193,000 after buying an additional 13,993 shares during the period. Atlas Capital Advisors Inc. purchased a new position in shares of Itochu during the 4th quarter valued at approximately $279,000. GAMMA Investing LLC grew its stake in Itochu by 21.8% in the 4th quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock valued at $364,000 after acquiring an additional 516 shares during the period. Confluence Investment Management LLC grew its stake in Itochu by 4.8% in the 4th quarter. Confluence Investment Management LLC now owns 9,827 shares of the company’s stock valued at $1,243,000 after acquiring an additional 446 shares during the period. Finally, Aristotle Capital Management LLC increased its holdings in Itochu by 897.0% in the 1st quarter. Aristotle Capital Management LLC now owns 117,267 shares of the company’s stock worth $1,468,000 after acquiring an additional 105,505 shares in the last quarter. 0.08% of the stock is currently owned by hedge funds and other institutional investors.

Itochu Price Performance

OTCMKTS:ITOCY opened at $11.07 on Friday. Itochu has a 52 week low of $10.08 and a 52 week high of $15.10. The company has a quick ratio of 0.99, a current ratio of 1.32 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $87.72 billion, a PE ratio of 12.44 and a beta of 0.62. The stock’s 50-day moving average price is $12.09 and its 200-day moving average price is $29.17.

Itochu (OTCMKTS:ITOCY) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. The business had revenue of $24.49 billion during the quarter, compared to analysts’ expectations of $28.52 billion. As a group, equities analysts expect that Itochu will post 0.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Daiwa Securities Group raised shares of Itochu to a “strong-buy” rating in a research note on Friday, February 27th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Itochu currently has a consensus rating of “Buy”.

About Itochu

Itochu Corporation is a major Japanese trading company (sogo shosha) that operates a diversified global business spanning trading, investment and services. The company traces its roots to the 19th century and has evolved from a textile trading firm into a broad-based commercial and investment group. Its American Depositary Receipts trade over the counter under the symbol ITOCY.

Itochu conducts commodity and product trading across a wide range of sectors including textiles and apparel, machinery, metals and minerals, energy and chemicals, food and consumer products, information and communications technology, and real estate.