Itochu Corp. (OTCMKTS:ITOCY) Short Interest Update

Itochu Corp. (OTCMKTS:ITOCY) was the recipient of a large decrease in short interest in the month of June. As of June 15th, there was short interest totaling 71,229 shares, a decrease of 85.2% from the May 31st total of 479,668 shares. Based on an average trading volume of 1,013,167 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the shares of the company are sold short.

Institutional Investors Weigh In On Itochu

Several hedge funds have recently added to or reduced their stakes in ITOCY. Aristotle Capital Management LLC grew its position in Itochu by 897.0% during the 1st quarter. Aristotle Capital Management LLC now owns 117,267 shares of the company’s stock worth $1,468,000 after purchasing an additional 105,505 shares during the period. OLD National Bancorp IN lifted its holdings in shares of Itochu by 898.1% in the 1st quarter. OLD National Bancorp IN now owns 15,551 shares of the company’s stock valued at $193,000 after buying an additional 13,993 shares during the period. Atlas Capital Advisors Inc. acquired a new position in shares of Itochu in the 4th quarter valued at about $279,000. GAMMA Investing LLC boosted its stake in shares of Itochu by 21.8% in the fourth quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock worth $364,000 after buying an additional 516 shares during the last quarter. Finally, Confluence Investment Management LLC boosted its stake in shares of Itochu by 4.8% in the fourth quarter. Confluence Investment Management LLC now owns 9,827 shares of the company’s stock worth $1,243,000 after buying an additional 446 shares during the last quarter. 0.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Daiwa Securities Group raised Itochu to a “strong-buy” rating in a research report on Friday, February 27th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Itochu Price Performance

Shares of OTCMKTS ITOCY opened at $11.07 on Friday. Itochu has a 52 week low of $10.08 and a 52 week high of $15.10. The business’s 50 day moving average price is $12.09 and its 200 day moving average price is $29.17. The company has a quick ratio of 0.99, a current ratio of 1.32 and a debt-to-equity ratio of 0.41. The firm has a market cap of $87.72 billion, a P/E ratio of 12.44 and a beta of 0.62.

Itochu (OTCMKTS:ITOCY) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18. The business had revenue of $24.49 billion for the quarter, compared to analysts’ expectations of $28.52 billion. On average, sell-side analysts expect that Itochu will post 0.86 earnings per share for the current year.

Itochu Company Profile

Itochu Corporation is a major Japanese trading company (sogo shosha) that operates a diversified global business spanning trading, investment and services. The company traces its roots to the 19th century and has evolved from a textile trading firm into a broad-based commercial and investment group. Its American Depositary Receipts trade over the counter under the symbol ITOCY.

Itochu conducts commodity and product trading across a wide range of sectors including textiles and apparel, machinery, metals and minerals, energy and chemicals, food and consumer products, information and communications technology, and real estate.