Magyar Bancorp, Inc. (NASDAQ:MGYR) Sees Large Decline in Short Interest

Magyar Bancorp, Inc. (NASDAQ:MGYR - Get Free Report) saw a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 2,900 shares, a drop of 25.6% from the March 15th total of 3,900 shares. Currently, 0.1% of the company's shares are short sold. Based on an average daily volume of 2,300 shares, the days-to-cover ratio is currently 1.3 days.

Institutional Investors Weigh In On Magyar Bancorp

Several hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its position in shares of Magyar Bancorp by 16.1% in the 4th quarter. Renaissance Technologies LLC now owns 16,586 shares of the bank's stock worth $242,000 after purchasing an additional 2,300 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Magyar Bancorp by 37.2% during the fourth quarter. Northern Trust Corp now owns 27,674 shares of the bank's stock valued at $404,000 after purchasing an additional 7,501 shares during the last quarter. Geode Capital Management LLC lifted its position in Magyar Bancorp by 6.3% during the third quarter. Geode Capital Management LLC now owns 57,876 shares of the bank's stock valued at $713,000 after purchasing an additional 3,437 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Magyar Bancorp by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 133,227 shares of the bank's stock worth $1,930,000 after purchasing an additional 974 shares during the last quarter. Finally, PL Capital Advisors LLC raised its stake in Magyar Bancorp by 1,360.0% during the 4th quarter. PL Capital Advisors LLC now owns 3,716,532 shares of the bank's stock valued at $54,261,000 after buying an additional 3,461,975 shares during the last quarter. 46.32% of the stock is owned by institutional investors.

Magyar Bancorp Stock Down 1.0 %

Shares of MGYR traded down $0.14 during mid-day trading on Thursday, hitting $13.93. 180 shares of the company's stock traded hands, compared to its average volume of 3,894. The firm has a market capitalization of $90.27 million, a P/E ratio of 10.63 and a beta of 0.08. The business's 50-day moving average price is $14.18 and its 200-day moving average price is $13.85. Magyar Bancorp has a 1 year low of $10.66 and a 1 year high of $14.90.

Magyar Bancorp (NASDAQ:MGYR - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.33 earnings per share for the quarter. Magyar Bancorp had a return on equity of 7.49% and a net margin of 15.25%.

About Magyar Bancorp

Magyar Bancorp, Inc operates as the holding company for Magyar Bank that provides various consumer and commercial banking services to individuals, businesses, and nonprofit organizations in New Jersey, the United States. It accepts various deposit accounts, including demand, savings, NOW, money market, and retirement accounts, as well as certificates of deposit.