Short Interest in Genworth Financial, Inc. (NYSE:GNW) Increases By 35.5%

Genworth Financial, Inc. (NYSE:GNW) was the recipient of a large growth in short interest during the month of October. As of October 15th, there was short interest totaling 7,180,000 shares, a growth of 35.5% from the September 30th total of 5,300,000 shares. Based on an average daily volume of 5,010,000 shares, the days-to-cover ratio is currently 1.4 days. Currently, 1.8% of the shares of the stock are short sold. Currently, 1.8% of the shares of the stock are short sold. Based on an average daily volume of 5,010,000 shares, the days-to-cover ratio is currently 1.4 days.

Wall Street Analysts Forecast Growth

Several analysts have commented on GNW shares. Wall Street Zen cut Genworth Financial from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. Keefe, Bruyette & Woods lifted their price target on Genworth Financial from $9.50 to $10.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Genworth Financial in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.00.

Insiders Place Their Bets

In related news, CEO Rohit Gupta sold 86,406 shares of the business’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $8.68, for a total value of $750,004.08. Following the completion of the transaction, the chief executive officer owned 794,630 shares of the company’s stock, valued at approximately $6,897,388.40. The trade was a 9.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Genworth Financial

A number of institutional investors and hedge funds have recently bought and sold shares of GNW. Donald Smith & CO. Inc. increased its position in Genworth Financial by 4.5% in the first quarter. Donald Smith & CO. Inc. now owns 27,114,581 shares of the financial services provider’s stock worth $192,242,000 after buying an additional 1,165,112 shares during the period. American Century Companies Inc. boosted its stake in Genworth Financial by 10.0% during the second quarter. American Century Companies Inc. now owns 8,863,036 shares of the financial services provider’s stock valued at $68,954,000 after buying an additional 806,502 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Genworth Financial by 1.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,269,135 shares of the financial services provider’s stock valued at $37,358,000 after buying an additional 74,123 shares in the last quarter. Invesco Ltd. boosted its stake in Genworth Financial by 41.0% during the second quarter. Invesco Ltd. now owns 4,291,220 shares of the financial services provider’s stock valued at $33,386,000 after buying an additional 1,248,374 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Genworth Financial by 28.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,523,537 shares of the financial services provider’s stock valued at $27,413,000 after buying an additional 774,010 shares in the last quarter. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Genworth Financial Trading Up 0.9%

Shares of NYSE:GNW traded up $0.08 during trading on Tuesday, reaching $8.53. 5,467,745 shares of the stock were exchanged, compared to its average volume of 5,760,639. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.29 and a current ratio of 0.29. Genworth Financial has a 12-month low of $5.99 and a 12-month high of $9.15. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of 18.94 and a beta of 1.05. The firm’s 50-day moving average price is $8.68 and its 200 day moving average price is $7.88.

Genworth Financial Company Profile

Genworth Financial, Inc, together with its subsidiaries, provides mortgage and long-term care insurance products in the United States and internationally. It operates in three segments: Enact, Long-Term Care Insurance, and Life and Annuities. The Enact segment offers private mortgage insurance products primarily insuring prime-based, individually underwritten residential mortgage loans; and pool mortgage insurance products.