Franklin Covey Co. (NYSE:FC) Sees Large Increase in Short Interest

Franklin Covey Co. (NYSE:FC - Get Free Report) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 1,010,000 shares, a growth of 117.5% from the March 15th total of 464,400 shares. Approximately 9.1% of the shares of the company are sold short. Based on an average trading volume of 160,000 shares, the short-interest ratio is currently 6.3 days.

Hedge Funds Weigh In On Franklin Covey

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its stake in shares of Franklin Covey by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 301,054 shares of the business services provider's stock worth $11,316,000 after acquiring an additional 5,872 shares during the period. State Street Corp grew its position in Franklin Covey by 2.4% during the 3rd quarter. State Street Corp now owns 255,328 shares of the business services provider's stock worth $10,502,000 after purchasing an additional 5,955 shares during the period. Harbor Capital Advisors Inc. raised its stake in shares of Franklin Covey by 3.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 251,263 shares of the business services provider's stock valued at $9,442,000 after buying an additional 8,310 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Franklin Covey by 7.2% in the 4th quarter. Renaissance Technologies LLC now owns 146,903 shares of the business services provider's stock valued at $5,521,000 after buying an additional 9,900 shares during the period. Finally, Royce & Associates LP boosted its stake in shares of Franklin Covey by 885.5% in the fourth quarter. Royce & Associates LP now owns 140,793 shares of the business services provider's stock worth $5,291,000 after buying an additional 126,506 shares during the last quarter. Institutional investors and hedge funds own 69.88% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on FC shares. StockNews.com cut shares of Franklin Covey from a "strong-buy" rating to a "buy" rating in a research note on Friday, April 11th. Barrington Research restated an "outperform" rating and set a $35.00 price target on shares of Franklin Covey in a report on Thursday, April 10th.

Franklin Covey Stock Down 2.9 %

Shares of NYSE FC traded down $0.60 during mid-day trading on Monday, reaching $19.77. 16,158 shares of the company were exchanged, compared to its average volume of 90,063. Franklin Covey has a 1 year low of $18.94 and a 1 year high of $44.46. The firm has a 50-day moving average of $28.08 and a 200 day moving average of $34.12. The stock has a market cap of $256.77 million, a price-to-earnings ratio of 13.45, a P/E/G ratio of 1.74 and a beta of 0.98. The company has a quick ratio of 0.94, a current ratio of 0.97 and a debt-to-equity ratio of 0.03.

Franklin Covey (NYSE:FC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 2nd. The business services provider reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.03. The business had revenue of $59.61 million during the quarter, compared to the consensus estimate of $62.24 million. Franklin Covey had a return on equity of 25.23% and a net margin of 6.85%. On average, research analysts expect that Franklin Covey will post 0.97 earnings per share for the current year.

About Franklin Covey

Franklin Covey Co provides training and consulting services in the areas of execution, sales performance, productivity, customer loyalty, and educational improvement for organizations and individuals worldwide. The company operates through Direct Offices, International Licensees, and Education Practice segments.