Atento S.A. (NYSE:ATTO) Sees Large Growth in Short Interest

Atento S.A. (NYSE:ATTO) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 8,000 shares, a growth of 185.7% from the September 15th total of 2,800 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 19,500 shares, the days-to-cover ratio is currently 0.4 days.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC bought a new stake in shares of Atento during the 2nd quarter worth $230,000. Renaissance Technologies LLC boosted its stake in shares of Atento by 39.8% during the 2nd quarter. Renaissance Technologies LLC now owns 39,743 shares of the business services provider’s stock worth $1,019,000 after acquiring an additional 11,320 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of Atento by 1.0% during the 2nd quarter. Morgan Stanley now owns 122,228 shares of the business services provider’s stock worth $3,134,000 after acquiring an additional 1,224 shares in the last quarter. 45.94% of the stock is owned by institutional investors and hedge funds.

NYSE ATTO traded up $0.97 on Thursday, reaching $28.17. 6,560 shares of the stock traded hands, compared to its average volume of 25,741. The firm’s fifty day simple moving average is $26.11 and its 200 day simple moving average is $23.90. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 13.89. The company has a market cap of $422.55 million, a price-to-earnings ratio of -7.08, a P/E/G ratio of 45.33 and a beta of 1.58. Atento has a 12 month low of $8.10 and a 12 month high of $30.48.

Atento (NYSE:ATTO) last issued its quarterly earnings results on Wednesday, August 4th. The business services provider reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. The firm had revenue of $382.70 million during the quarter, compared to analyst estimates of $373.90 million. Atento had a negative return on equity of 6.46% and a negative net margin of 3.79%. As a group, equities research analysts forecast that Atento will post 0.05 EPS for the current fiscal year.

Several analysts recently commented on the company. Zacks Investment Research cut Atento from a “hold” rating to a “strong sell” rating in a research report on Monday. TheStreet upgraded Atento from a “d+” rating to a “c-” rating in a research report on Thursday, August 5th. Finally, The Goldman Sachs Group upgraded Atento from a “sell” rating to a “neutral” rating and raised their target price for the company from $11.40 to $30.00 in a research report on Tuesday, September 21st.

About Atento

Atento SA engages in the provision of customer relationship management business process outsourcing services and solutions. The firm offers front-end and back-end services ranging from sales, applications processing, customer care, and credit management. It operates through the following geographical segments: Europe, the Middle East and Africa (EMEA), America, and Brazil.

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