Short Interest in Korn Ferry (NYSE:KFY) Rises By 21.6%

Korn Ferry (NYSE:KFY) saw a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 1,350,000 shares, a growth of 21.6% from the February 13th total of 1,110,000 shares. Based on an average daily trading volume, of 375,300 shares, the days-to-cover ratio is presently 3.6 days. Currently, 2.7% of the shares of the stock are short sold.

Hedge Funds Weigh In On Korn Ferry

Hedge funds and other institutional investors have recently modified their holdings of the company. Jefferies Financial Group Inc. purchased a new position in Korn Ferry during the 4th quarter valued at about $644,000. Vise Technologies Inc. increased its stake in shares of Korn Ferry by 8.2% during the fourth quarter. Vise Technologies Inc. now owns 4,947 shares of the business services provider’s stock valued at $334,000 after buying an additional 376 shares during the period. Castleark Management LLC increased its stake in shares of Korn Ferry by 27.8% during the fourth quarter. Castleark Management LLC now owns 75,240 shares of the business services provider’s stock valued at $5,075,000 after buying an additional 16,350 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Korn Ferry by 10.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 161,536 shares of the business services provider’s stock valued at $10,896,000 after acquiring an additional 15,179 shares in the last quarter. Finally, Sovereign s Capital Management LLC purchased a new stake in Korn Ferry in the fourth quarter worth $1,221,000. 98.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on KFY. StockNews.com raised Korn Ferry from a “hold” rating to a “buy” rating in a research note on Tuesday, December 17th. Truist Financial increased their target price on shares of Korn Ferry from $78.00 to $84.00 and gave the company a “buy” rating in a report on Friday, December 6th.

Korn Ferry Trading Up 0.0 %

KFY stock traded up $0.03 during trading on Tuesday, hitting $67.49. 387,684 shares of the company traded hands, compared to its average volume of 332,779. The company has a 50-day moving average of $67.53 and a 200-day moving average of $70.60. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.07 and a current ratio of 2.07. Korn Ferry has a 1 year low of $59.78 and a 1 year high of $80.64. The firm has a market capitalization of $3.48 billion, a PE ratio of 14.42 and a beta of 1.57.

Korn Ferry (NYSE:KFY) last released its quarterly earnings data on Tuesday, March 11th. The business services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.06. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. The firm had revenue of $676.50 million during the quarter, compared to analyst estimates of $650.45 million. During the same quarter in the prior year, the firm posted $1.07 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. Analysts predict that Korn Ferry will post 4.75 earnings per share for the current fiscal year.

Korn Ferry Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Thursday, March 27th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Thursday, March 27th. This is a positive change from Korn Ferry’s previous quarterly dividend of $0.37. Korn Ferry’s dividend payout ratio (DPR) is 41.29%.

Korn Ferry Company Profile

Korn Ferry, together with its subsidiaries, provides organizational consulting services worldwide. It operates through four segments: Consulting, Digital, Executive Search, and Recruitment Process Outsourcing (RPO) & Professional Search. The company provides executive search services to recruit board level, chief executive, other senior executive, and general management talent of organizations.