Short Interest in The Brink’s Company (NYSE:BCO) Drops By 13.0%

The Brink’s Company (NYSE:BCO) was the recipient of a significant decline in short interest in December. As of December 31st, there was short interest totalling 844,600 shares, a decline of 13.0% from the December 15th total of 970,700 shares. Currently, 1.9% of the company’s stock are short sold. Based on an average trading volume of 279,600 shares, the days-to-cover ratio is currently 3.0 days.

Brink’s Price Performance

NYSE BCO traded up $1.62 during trading hours on Friday, hitting $92.58. The company had a trading volume of 244,927 shares, compared to its average volume of 222,653. The company has a debt-to-equity ratio of 8.76, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of 35.07 and a beta of 1.40. Brink’s has a 52 week low of $79.03 and a 52 week high of $115.91. The firm has a 50 day simple moving average of $93.54 and a 200 day simple moving average of $101.89.

Brink’s (NYSE:BCO) last announced its earnings results on Wednesday, November 6th. The business services provider reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.28). Brink’s had a return on equity of 71.46% and a net margin of 2.37%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the company earned $1.92 earnings per share. Brink’s’s revenue was down 3.4% compared to the same quarter last year. Equities research analysts expect that Brink’s will post 6.51 earnings per share for the current year.

Brink’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be issued a dividend of $0.2425 per share. The ex-dividend date is Monday, February 3rd. This represents a $0.97 dividend on an annualized basis and a yield of 1.05%. Brink’s’s dividend payout ratio is presently 36.74%.

Insider Activity

In other news, EVP James K. Parks sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $96.51, for a total value of $386,040.00. Following the completion of the transaction, the executive vice president now directly owns 11,103 shares of the company’s stock, valued at $1,071,550.53. This represents a 26.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.49% of the company’s stock.

Institutional Trading of Brink’s

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wasatch Advisors LP bought a new position in Brink’s during the 3rd quarter valued at about $59,308,000. Fiera Capital Corp purchased a new position in shares of Brink’s in the third quarter valued at about $27,460,000. State Street Corp raised its position in shares of Brink’s by 5.1% during the third quarter. State Street Corp now owns 1,718,765 shares of the business services provider’s stock valued at $198,758,000 after buying an additional 82,999 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Brink’s by 36.8% during the second quarter. Renaissance Technologies LLC now owns 234,000 shares of the business services provider’s stock valued at $23,962,000 after purchasing an additional 63,000 shares in the last quarter. Finally, Raymond James & Associates raised its holdings in shares of Brink’s by 202.3% during the 3rd quarter. Raymond James & Associates now owns 94,055 shares of the business services provider’s stock worth $10,876,000 after acquiring an additional 62,942 shares in the last quarter. 94.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Truist Financial dropped their price target on Brink’s from $144.00 to $138.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Brink’s has a consensus rating of “Buy” and an average target price of $120.50.

About Brink’s

The Brink’s Co engages in providing cash management services, digital retail solutions, and ATM managed services. It operates through the following geographical segments: North America, Latin America, Europe, and Rest of World. The North America segment operates in the U.S. and Canada. The Latin America segment refers to the operations in Latin American countries.