Fanhua Inc. (NASDAQ:FANH) Sees Large Drop in Short Interest

Fanhua Inc. (NASDAQ:FANH) saw a large decrease in short interest in September. As of September 30th, there was short interest totalling 264,300 shares, a decrease of 5.2% from the September 15th total of 278,900 shares. Based on an average daily volume of 370,700 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.6% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Fanhua from a “sell” rating to a “hold” rating in a research note on Tuesday, October 1st.

Fanhua Price Performance

NASDAQ:FANH opened at $1.49 on Friday. The company has a market cap of $84.49 million, a PE ratio of 2.04 and a beta of -0.06. The firm’s 50 day simple moving average is $1.39 and its 200 day simple moving average is $2.30. Fanhua has a one year low of $1.04 and a one year high of $7.48.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Fanhua stock. Dimensional Fund Advisors LP boosted its position in Fanhua Inc. (NASDAQ:FANH) by 11.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 466,320 shares of the financial services provider’s stock after acquiring an additional 48,383 shares during the period. Dimensional Fund Advisors LP owned 0.82% of Fanhua worth $930,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 26.72% of the company’s stock.

Fanhua Company Profile

Fanhua Inc, together with its subsidiary, distributes insurance products in China. It operates through two segments, Insurance Agency and Claims Adjusting. The Insurance Agency segment provides property and casualty insurance products that primarily include individual accident, travel, homeowner, and indemnity medical insurance products; and life insurance products, such as individual health, individual whole life, individual term life, individual endowment life, and individual annuity, as well as participating insurance products.