TriNet Group Inc (NYSE:TNET) Short Interest Update

TriNet Group Inc (NYSE:TNET) saw a large decline in short interest during the month of June. As of June 30th, there was short interest totalling 897,100 shares, a decline of 17.8% from the May 30th total of 1,091,600 shares. Based on an average daily trading volume, of 296,200 shares, the days-to-cover ratio is currently 3.0 days. Currently, 2.1% of the shares of the company are sold short.

Shares of TriNet Group stock opened at $71.42 on Friday. TriNet Group has a 52-week low of $38.74 and a 52-week high of $71.74. The firm has a 50-day moving average price of $67.00. The company has a market cap of $5.00 billion, a PE ratio of 26.45 and a beta of 1.89. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95.

TriNet Group (NYSE:TNET) last announced its quarterly earnings data on Monday, April 29th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.01). TriNet Group had a net margin of 5.62% and a return on equity of 54.21%. The firm had revenue of $251.00 million during the quarter, compared to the consensus estimate of $233.65 million. During the same quarter in the prior year, the firm posted $0.80 earnings per share. The company’s revenue was up 14.1% on a year-over-year basis. Research analysts predict that TriNet Group will post 2.92 earnings per share for the current fiscal year.

In related news, Director Martin Babinec sold 40,783 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $65.29, for a total value of $2,662,722.07. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Edward Griese sold 1,403 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $59.20, for a total transaction of $83,057.60. Following the completion of the transaction, the vice president now directly owns 68,155 shares in the company, valued at $4,034,776. The disclosure for this sale can be found here. Insiders sold a total of 236,846 shares of company stock worth $15,279,492 over the last three months. 37.00% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the stock. Campbell & CO Investment Adviser LLC increased its position in shares of TriNet Group by 98.8% in the second quarter. Campbell & CO Investment Adviser LLC now owns 7,450 shares of the business services provider’s stock worth $505,000 after purchasing an additional 3,703 shares during the last quarter. WINTON GROUP Ltd increased its position in shares of TriNet Group by 43.3% in the second quarter. WINTON GROUP Ltd now owns 8,985 shares of the business services provider’s stock worth $609,000 after purchasing an additional 2,717 shares during the last quarter. Marshall Wace North America L.P. increased its position in shares of TriNet Group by 12,851.1% in the first quarter. Marshall Wace North America L.P. now owns 162,925 shares of the business services provider’s stock worth $9,733,000 after purchasing an additional 161,667 shares during the last quarter. Marshall Wace LLP bought a new position in shares of TriNet Group in the first quarter worth approximately $4,223,000. Finally, Hilton Capital Management LLC bought a new position in shares of TriNet Group in the first quarter worth approximately $79,000. Institutional investors and hedge funds own 86.72% of the company’s stock.

Separately, Zacks Investment Research raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $58.63.

TriNet Group Company Profile

TriNet Group, Inc provides human resources solutions for small and midsize businesses in the United States and Canada. The company offers multi-state payroll processing and tax administration; employee benefits programs, including health insurance and retirement plans; workers compensation insurance and claims management; employment and benefit law compliance; and other services.

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