MIND C.T.I. Ltd (NASDAQ:MNDO) Sees Large Increase in Short Interest

MIND C.T.I. Ltd (NASDAQ:MNDO) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 98,000 shares, an increase of 402.6% from the March 15th total of 19,500 shares. Currently, 0.6% of the shares of the company are short sold. Based on an average daily trading volume, of 75,200 shares, the days-to-cover ratio is currently 1.3 days.

Hedge Funds Weigh In On MIND C.T.I.

A hedge fund recently raised its stake in MIND C.T.I. stock. Northern Trust Corp grew its holdings in MIND C.T.I. Ltd (NASDAQ:MNDO) by 91.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 77,009 shares of the information technology services provider’s stock after acquiring an additional 36,781 shares during the period. Northern Trust Corp owned 0.38% of MIND C.T.I. worth $152,000 as of its most recent SEC filing. Institutional investors own 24.32% of the company’s stock.

MIND C.T.I. Stock Down 1.2 %

MNDO traded down $0.02 during midday trading on Wednesday, hitting $1.66. 68,178 shares of the company traded hands, compared to its average volume of 38,897. The company’s 50-day moving average is $1.92 and its 200 day moving average is $1.97. MIND C.T.I. has a 52 week low of $1.60 and a 52 week high of $2.13. The firm has a market capitalization of $33.81 million, a PE ratio of 7.55 and a beta of 0.70.

MIND C.T.I. (NASDAQ:MNDO) last released its quarterly earnings results on Tuesday, March 4th. The information technology services provider reported $0.06 earnings per share for the quarter. MIND C.T.I. had a return on equity of 21.27% and a net margin of 22.08%. The firm had revenue of $5.20 million for the quarter.

MIND C.T.I. Cuts Dividend

The company also recently declared an annual dividend, which was paid on Thursday, April 10th. Shareholders of record on Tuesday, March 25th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, March 25th. This represents a dividend yield of 10.9%. MIND C.T.I.’s dividend payout ratio is currently 100.00%.

About MIND C.T.I.

MIND C.T.I. Ltd., together with its subsidiaries, develops, markets, sells, and implements billing and customer care software solutions for communication service providers in the Americas, Europe, Israel, the Asia Pacific, and Africa. It operates in two segments, Billing and Related Services, and Messaging.