Magyar Bancorp, Inc. (NASDAQ:MGYR) Sees Significant Drop in Short Interest

Magyar Bancorp, Inc. (NASDAQ:MGYR - Get Free Report) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 3,700 shares, a decline of 40.3% from the September 30th total of 6,200 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 5,200 shares, the short-interest ratio is presently 0.7 days.

Magyar Bancorp Trading Down 0.2 %

Shares of MGYR stock traded down $0.03 during trading on Friday, hitting $12.37. The company's stock had a trading volume of 461 shares, compared to its average volume of 4,714. The business has a fifty day moving average of $12.32 and a 200-day moving average of $11.71. The company has a market cap of $80.28 million, a PE ratio of 10.57 and a beta of 0.27. Magyar Bancorp has a 52 week low of $9.00 and a 52 week high of $12.71.

Magyar Bancorp (NASDAQ:MGYR - Get Free Report) last announced its earnings results on Thursday, July 25th. The bank reported $0.27 earnings per share (EPS) for the quarter. The firm had revenue of $7.19 million during the quarter. Magyar Bancorp had a return on equity of 6.94% and a net margin of 15.19%.

Institutional Trading of Magyar Bancorp

A hedge fund recently bought a new stake in Magyar Bancorp stock. Private Advisor Group LLC acquired a new stake in shares of Magyar Bancorp, Inc. (NASDAQ:MGYR - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,064 shares of the bank's stock, valued at approximately $136,000. Private Advisor Group LLC owned 0.17% of Magyar Bancorp at the end of the most recent quarter. 46.32% of the stock is owned by institutional investors and hedge funds.

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.