Short Interest in Lloyds Banking Group plc (NYSE:LYG) Increases By 53.7%

Lloyds Banking Group plc (NYSE:LYG) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 13,570,000 shares, an increase of 53.7% from the October 15th total of 8,830,000 shares. Based on an average daily volume of 10,250,000 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.1% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LYG. Royal Bank of Canada lowered Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a report on Friday, July 26th. Citigroup downgraded shares of Lloyds Banking Group from a “buy” rating to a “neutral” rating in a report on Monday, August 5th. UBS Group reaffirmed a “neutral” rating on shares of Lloyds Banking Group in a report on Tuesday, July 30th. Morgan Stanley downgraded Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group assumed coverage on Lloyds Banking Group in a research note on Friday, October 4th. They issued a “neutral” rating for the company. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Lloyds Banking Group currently has a consensus rating of “Hold” and a consensus target price of $2.75.

Lloyds Banking Group Stock Performance

Shares of LYG stock traded up $0.07 during trading on Friday, reaching $2.83. The company had a trading volume of 6,925,077 shares, compared to its average volume of 9,659,832. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.45 and a quick ratio of 1.48. The firm’s 50 day simple moving average is $3.00 and its two-hundred day simple moving average is $2.91. The company has a market capitalization of $43.50 billion, a PE ratio of 7.26 and a beta of 1.35. Lloyds Banking Group has a one year low of $2.00 and a one year high of $3.24.

Hedge Funds Weigh In On Lloyds Banking Group

Large investors have recently made changes to their positions in the business. Transcend Capital Advisors LLC bought a new stake in Lloyds Banking Group in the 2nd quarter valued at $28,000. Interchange Capital Partners LLC bought a new stake in shares of Lloyds Banking Group in the 2nd quarter worth about $28,000. Intergy Private Wealth LLC acquired a new stake in shares of Lloyds Banking Group during the 2nd quarter worth about $29,000. Aletheian Wealth Advisors LLC acquired a new position in Lloyds Banking Group in the third quarter valued at about $34,000. Finally, Tcwp LLC bought a new stake in Lloyds Banking Group during the second quarter worth about $32,000. Institutional investors and hedge funds own 2.15% of the company’s stock.

Lloyds Banking Group Company Profile

Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the United Kingdom and internationally. It operates in three segments: Retail; Commercial Banking; and Insurance, Pensions and Investments. The Retail segment offers a range of financial service products, including current accounts, savings, mortgages, motor finance, unsecured loans, leasing solutions, and credit cards to personal customers.