Bridgford Foods Co. (NASDAQ:BRID) Short Interest Update

Bridgford Foods Co. (NASDAQ:BRID) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totalling 46,600 shares, a decrease of 16.5% from the September 15th total of 55,800 shares. Based on an average daily volume of 7,400 shares, the days-to-cover ratio is currently 6.3 days. Currently, 2.9% of the company’s stock are sold short.

In other news, Treasurer Debra Aileen Dealcuaz sold 2,131 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $35.00, for a total value of $74,585.00. Following the sale, the treasurer now owns 13,767 shares in the company, valued at approximately $481,845. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bruce Bridgford sold 3,448 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $34.20, for a total transaction of $117,921.60. Following the completion of the sale, the director now owns 3,090 shares in the company, valued at approximately $105,678. The disclosure for this sale can be found here. Corporate insiders own 81.60% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp raised its stake in Bridgford Foods by 11.0% during the second quarter. Northern Trust Corp now owns 15,800 shares of the company’s stock worth $470,000 after acquiring an additional 1,571 shares during the period. BlackRock Inc. raised its stake in Bridgford Foods by 7,151.6% during the second quarter. BlackRock Inc. now owns 72,516 shares of the company’s stock worth $2,157,000 after acquiring an additional 71,516 shares during the period. Finally, Vanguard Group Inc. raised its stake in Bridgford Foods by 42.6% during the second quarter. Vanguard Group Inc. now owns 23,670 shares of the company’s stock worth $705,000 after acquiring an additional 7,069 shares during the period. Hedge funds and other institutional investors own 6.84% of the company’s stock.

A number of brokerages have recently issued reports on BRID. TheStreet lowered shares of Bridgford Foods from a “b” rating to a “c” rating in a research note on Wednesday, September 11th. ValuEngine lowered shares of Bridgford Foods from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd.

Shares of Bridgford Foods stock opened at $25.64 on Tuesday. The firm has a market cap of $230.82 million, a PE ratio of 30.27 and a beta of 1.08. Bridgford Foods has a 1 year low of $16.70 and a 1 year high of $38.00. The firm’s 50-day simple moving average is $29.79 and its 200-day simple moving average is $30.78. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.45 and a current ratio of 2.60.

Bridgford Foods Company Profile

Bridgford Foods Corporation, together with its subsidiaries, manufactures, markets, and distributes frozen, refrigerated, and snack food products in the United States. The company operates in two segments, Frozen Food Products and Snack Food Products. It primarily offers biscuits, bread dough items, roll dough items, and dry sausage and beef jerky products.

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