The Container Store Group, Inc. (NYSE:TCS) Sees Significant Decline in Short Interest

The Container Store Group, Inc. (NYSE:TCS) saw a large decline in short interest in August. As of August 31st, there was short interest totalling 96,400 shares, a decline of 92.8% from the August 15th total of 1,340,000 shares. Based on an average trading volume of 100,300 shares, the days-to-cover ratio is presently 1.0 days. Approximately 5.1% of the company’s shares are short sold.

Analyst Ratings Changes

Separately, The Goldman Sachs Group dropped their price objective on shares of The Container Store Group from $2.00 to $1.00 and set a “neutral” rating on the stock in a report on Tuesday, May 28th.

Hedge Funds Weigh In On The Container Store Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quadrature Capital Ltd purchased a new position in shares of The Container Store Group in the 4th quarter worth about $34,000. Renaissance Technologies LLC boosted its holdings in shares of The Container Store Group by 21.0% in the 2nd quarter. Renaissance Technologies LLC now owns 88,200 shares of the specialty retailer’s stock worth $48,000 after buying an additional 15,300 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in shares of The Container Store Group by 5.5% in the 4th quarter. First Eagle Investment Management LLC now owns 846,761 shares of the specialty retailer’s stock worth $1,931,000 after buying an additional 44,354 shares during the last quarter. Zazove Associates LLC boosted its holdings in shares of The Container Store Group by 72.6% in the 1st quarter. Zazove Associates LLC now owns 470,410 shares of the specialty retailer’s stock worth $536,000 after buying an additional 197,831 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in The Container Store Group in the 2nd quarter valued at about $165,000. 67.11% of the stock is owned by hedge funds and other institutional investors.

The Container Store Group Stock Down 2.6 %

TCS traded down $0.27 during mid-day trading on Thursday, reaching $10.00. 15,157 shares of the stock were exchanged, compared to its average volume of 50,298. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.49 and a current ratio of 1.31. The stock has a market capitalization of $515.89 million, a PE ratio of -4.91 and a beta of 1.03. The company has a 50 day moving average price of $1.97 and a two-hundred day moving average price of $1.27. The Container Store Group has a 1 year low of $7.50 and a 1 year high of $37.80.

The Container Store Group (NYSE:TCS) last posted its quarterly earnings data on Tuesday, August 6th. The specialty retailer reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.08). The firm had revenue of $181.86 million for the quarter, compared to analysts’ expectations of $190.01 million. The Container Store Group had a negative return on equity of 9.77% and a negative net margin of 12.91%. During the same period in the prior year, the firm earned ($0.21) earnings per share. As a group, research analysts anticipate that The Container Store Group will post -4.18 EPS for the current year.

About The Container Store Group

The Container Store Group, Inc operates as a specialty retailer of organizing solutions, custom spaces, and in-home organizing services in the United States. The company operates in two segments, The Container Store and Elfa. Its stores provide custom space offerings; countertop organizers, cosmetic and jewelry organizers, shower and bathtub organizers, drawer organization, and cabinet storage products; closets; and ventilated and solid shelving and drawer components and systems, wall and door rack solutions, accessories, utility and garage systems, and sliding doors.