Educational Development Co. (NASDAQ:EDUC) Sees Large Drop in Short Interest

Educational Development Co. (NASDAQ:EDUC) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totalling 6,100 shares, a drop of 49.2% from the August 30th total of 12,000 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 17,000 shares, the days-to-cover ratio is presently 0.4 days.

In other news, insider Keefe Daniel E. O bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were acquired at an average cost of $6.90 per share, with a total value of $34,500.00. Following the completion of the transaction, the insider now directly owns 16,605 shares in the company, valued at $114,574.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have purchased 6,535 shares of company stock worth $44,726. 23.30% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its stake in Educational Development by 3.4% during the second quarter. Renaissance Technologies LLC now owns 202,424 shares of the company’s stock worth $1,415,000 after purchasing an additional 6,600 shares during the period. Granite Investment Partners LLC lifted its stake in Educational Development by 87.8% during the first quarter. Granite Investment Partners LLC now owns 69,214 shares of the company’s stock worth $524,000 after purchasing an additional 32,351 shares during the period. Finally, Punch & Associates Investment Management Inc. lifted its stake in Educational Development by 14.2% during the first quarter. Punch & Associates Investment Management Inc. now owns 37,700 shares of the company’s stock worth $285,000 after purchasing an additional 4,700 shares during the period. Hedge funds and other institutional investors own 19.30% of the company’s stock.

EDUC traded up $0.65 during midday trading on Friday, reaching $7.02. 54,941 shares of the company’s stock were exchanged, compared to its average volume of 23,084. The firm has a market capitalization of $53.66 million, a price-to-earnings ratio of 8.37 and a beta of 1.36. The company has a quick ratio of 0.28, a current ratio of 1.93 and a debt-to-equity ratio of 0.69. Educational Development has a one year low of $5.61 and a one year high of $12.65. The business has a 50-day simple moving average of $6.06 and a two-hundred day simple moving average of $7.19.

Educational Development (NASDAQ:EDUC) last announced its quarterly earnings results on Thursday, July 11th. The company reported $0.17 EPS for the quarter. The firm had revenue of $27.59 million during the quarter. Educational Development had a net margin of 4.99% and a return on equity of 24.42%.

Separately, TheStreet cut shares of Educational Development from a “b-” rating to a “c+” rating in a research note on Wednesday, August 14th.

About Educational Development

Educational Development Corporation, a publishing company, operates as a trade co-publisher of the line of educational children's books in the United States. The company offers various books, including Touchy-Feely board books, activity and flashcards, adventure and search books, art books, sticker books, and foreign language books, as well as science and math titles, and chapter books and novels.

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