MIND C.T.I. Ltd. (NASDAQ:MNDO) was the recipient of a large decline in short interest during the month of September. As of September 30th, there was short interest totalling 4,000 shares, a decline of 65.2% from the August 30th total of 11,500 shares. Based on an average daily trading volume, of 18,900 shares, the short-interest ratio is currently 0.2 days. Approximately 0.0% of the shares of the stock are short sold.
Several institutional investors have recently bought and sold shares of MNDO. Seizert Capital Partners LLC bought a new stake in shares of MIND C.T.I. in the 2nd quarter worth about $214,000. BlackRock Inc. grew its holdings in MIND C.T.I. by 134.5% during the 2nd quarter. BlackRock Inc. now owns 132,745 shares of the information technology services provider’s stock valued at $296,000 after purchasing an additional 76,143 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in MIND C.T.I. by 37.6% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 191,480 shares of the information technology services provider’s stock valued at $427,000 after purchasing an additional 52,350 shares during the last quarter. Acadian Asset Management LLC grew its holdings in MIND C.T.I. by 26.2% during the 1st quarter. Acadian Asset Management LLC now owns 162,082 shares of the information technology services provider’s stock valued at $346,000 after purchasing an additional 33,640 shares during the last quarter. Finally, Morgan Stanley grew its holdings in MIND C.T.I. by 1.5% during the 2nd quarter. Morgan Stanley now owns 1,065,560 shares of the information technology services provider’s stock valued at $2,376,000 after purchasing an additional 15,862 shares during the last quarter. Hedge funds and other institutional investors own 16.38% of the company’s stock.
Separately, ValuEngine downgraded shares of MIND C.T.I. from a “buy” rating to a “hold” rating in a report on Friday, September 27th.
Shares of MIND C.T.I. stock remained flat at $$2.32 during trading hours on Friday. 4,061 shares of the stock were exchanged, compared to its average volume of 11,360. The business’s 50 day simple moving average is $2.31 and its 200 day simple moving average is $2.21. MIND C.T.I. has a 12-month low of $2.09 and a 12-month high of $2.50. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.68 and a current ratio of 2.68. The stock has a market cap of $46.17 million, a PE ratio of 8.63 and a beta of 0.58.
MIND C.T.I. (NASDAQ:MNDO) last posted its earnings results on Monday, August 12th. The information technology services provider reported $0.05 earnings per share for the quarter. MIND C.T.I. had a net margin of 27.21% and a return on equity of 27.20%. The firm had revenue of $6.00 million for the quarter.
About MIND C.T.I.
MIND C.T.I. Ltd., together with its subsidiaries, designs, develops, markets, supports, implements, and operates real-time and off-line convergent billing and customer care software solutions in the United States, the United Kingdom and Rest of Europe, Israel, and internationally. The company offers billing and customer care solution that supports various services, such as voice, data, and content services, as well as prepaid, postpaid, and pay-in-advance payment models in a single platform.
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