Simulations Plus, Inc. (NASDAQ:SLP) was the recipient of a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 762,100 shares, a growth of 32.3% from the September 15th total of 576,000 shares. Based on an average trading volume of 159,800 shares, the days-to-cover ratio is currently 4.8 days. Currently, 6.3% of the shares of the company are short sold.
Shares of SLP stock traded up $0.18 during mid-day trading on Monday, hitting $33.56. The company had a trading volume of 108,000 shares, compared to its average volume of 96,406. Simulations Plus has a 52-week low of $17.18 and a 52-week high of $41.95. The stock’s 50 day moving average price is $34.69 and its 200-day moving average price is $30.63. The company has a market capitalization of $588.01 million, a P/E ratio of 67.12 and a beta of -0.37.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 25th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Thursday, October 24th. Simulations Plus’s dividend payout ratio is presently 48.00%.
In other news, Director John Kenneth Paglia sold 690 shares of Simulations Plus stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $37.86, for a total value of $26,123.40. Following the completion of the sale, the director now directly owns 2,112 shares in the company, valued at $79,960.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Walter S. Woltosz sold 24,000 shares of Simulations Plus stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $35.86, for a total transaction of $860,640.00. Following the completion of the sale, the director now owns 5,087,918 shares of the company’s stock, valued at $182,452,739.48. The disclosure for this sale can be found here. Insiders sold 48,690 shares of company stock valued at $1,756,043 over the last quarter. Company insiders own 31.57% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of Simulations Plus by 6.8% in the second quarter. BlackRock Inc. now owns 893,791 shares of the technology company’s stock worth $25,527,000 after purchasing an additional 56,539 shares during the last quarter. Prudential Financial Inc. bought a new position in shares of Simulations Plus in the second quarter worth about $1,353,000. WCM Investment Management LLC bought a new position in shares of Simulations Plus in the second quarter worth about $1,235,000. Acadian Asset Management LLC bought a new position in shares of Simulations Plus in the second quarter worth about $741,000. Finally, Tiverton Asset Management LLC grew its holdings in shares of Simulations Plus by 404.7% in the second quarter. Tiverton Asset Management LLC now owns 19,617 shares of the technology company’s stock worth $560,000 after purchasing an additional 15,730 shares during the last quarter. Institutional investors own 41.98% of the company’s stock.
Several brokerages have weighed in on SLP. BidaskClub downgraded shares of Simulations Plus from a “strong-buy” rating to a “buy” rating in a report on Friday, September 27th. Liberum Capital reaffirmed a “buy” rating on shares of Simulations Plus in a report on Tuesday, October 22nd. Zacks Investment Research downgraded shares of Simulations Plus from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, ValuEngine downgraded shares of Simulations Plus from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $39.00.
About Simulations Plus
Simulations Plus, Inc develops drug discovery and development software for mechanistic modeling and simulation, and machine-learning-based prediction of properties of molecules from their structure worldwide. The company offers GastroPlus, which simulates the absorption, pharmacokinetics (PK), pharmacodynamics, and drug-drug interactions of compounds administered to humans and animals; DDDPlus that simulates in vitro laboratory experiments that measure the rate of dissolution of the drug and additives in a dosage form; and MembranePlus, which simulates laboratory experiments.
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