IES Holdings, Inc. (NASDAQ:IESC) Sees Significant Growth in Short Interest

IES Holdings, Inc. (NASDAQ:IESC) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 456,500 shares, a growth of 7.3% from the May 31st total of 425,400 shares. Based on an average daily volume of 160,900 shares, the days-to-cover ratio is currently 2.8 days. Approximately 2.3% of the company’s stock are short sold.

Insider Buying and Selling

In related news, CEO Jeffrey L. Et Al Gendell sold 44,449 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $130.03, for a total transaction of $5,779,703.47. Following the completion of the transaction, the chief executive officer now owns 11,233,970 shares in the company, valued at $1,460,753,119.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Jeffrey L. Et Al Gendell sold 14,561 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $131.91, for a total value of $1,920,741.51. Following the transaction, the chief executive officer now directly owns 11,304,562 shares of the company’s stock, valued at $1,491,184,773.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey L. Et Al Gendell sold 44,449 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $130.03, for a total transaction of $5,779,703.47. Following the transaction, the chief executive officer now directly owns 11,233,970 shares in the company, valued at $1,460,753,119.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 133,757 shares of company stock worth $18,360,416. 59.19% of the stock is owned by insiders.

Institutional Investors Weigh In On IES

Large investors have recently bought and sold shares of the company. Sunbelt Securities Inc. acquired a new stake in IES during the first quarter worth about $48,000. Acadian Asset Management LLC bought a new stake in shares of IES during the 3rd quarter valued at approximately $41,000. EntryPoint Capital LLC grew its holdings in shares of IES by 217.0% during the 1st quarter. EntryPoint Capital LLC now owns 1,065 shares of the technology company’s stock valued at $130,000 after purchasing an additional 729 shares during the last quarter. Quest Partners LLC bought a new stake in shares of IES during the 4th quarter valued at approximately $134,000. Finally, Susquehanna Portfolio Strategies LLC bought a new stake in shares of IES during the 1st quarter valued at approximately $207,000. 86.60% of the stock is currently owned by institutional investors and hedge funds.

IES Stock Performance

NASDAQ:IESC opened at $144.15 on Thursday. IES has a 52 week low of $53.00 and a 52 week high of $184.38. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 21.74 and a beta of 1.36. The firm’s 50-day simple moving average is $146.81 and its 200 day simple moving average is $116.20.

IES (NASDAQ:IESC) last announced its quarterly earnings data on Friday, May 3rd. The technology company reported $2.29 earnings per share (EPS) for the quarter. The firm had revenue of $705.80 million for the quarter. IES had a net margin of 5.27% and a return on equity of 30.22%.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of IES from a “strong-buy” rating to a “buy” rating in a research report on Sunday.

About IES

IES Holdings, Inc engages in the design and installation of integrated electrical and technology systems, and provides infrastructure products and services in the United States. The Communications segment designs, installs, and maintains network infrastructure within data centers for co-location and managed hosting customers; corporate, educational, financial, hospitality, and healthcare buildings; e-commerce distribution centers; and high-tech manufacturing facilities.