iMedia Brands, Inc. (NASDAQ:IMBI) Sees Significant Growth in Short Interest

Financial News Live · Aug 3, 2022 09:41

iMedia Brands, Inc. (NASDAQ:IMBI – Get Rating) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 221,100 shares, an increase of 34.2% from the June 30th total of 164,700 shares. Based on an average daily trading volume, of 163,900 shares, the days-to-cover ratio is currently 1.3 days.

iMedia Brands Trading Down 0.7 %

Shares of IMBI traded down $0.01 during midday trading on Tuesday, reaching $1.52. The company had a trading volume of 18,671 shares, compared to its average volume of 50,096. iMedia Brands has a 1-year low of $1.01 and a 1-year high of $8.17. The stock has a market cap of $36.60 million, a PE ratio of -1.06 and a beta of 2.04. The firm has a 50 day simple moving average of $1.45 and a 200-day simple moving average of $3.91. The company has a quick ratio of 0.72, a current ratio of 1.33 and a debt-to-equity ratio of 4.80.

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iMedia Brands (NASDAQ:IMBI – Get Rating) last issued its earnings results on Tuesday, May 24th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.45) by $0.02. The business had revenue of $154.54 million during the quarter, compared to the consensus estimate of $154.95 million. iMedia Brands had a negative return on equity of 37.43% and a negative net margin of 5.18%. During the same period last year, the company earned ($0.21) EPS. Research analysts forecast that iMedia Brands will post -1.02 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. B. Riley lowered iMedia Brands from a "buy" rating to a "neutral" rating in a report on Tuesday, June 21st. Craig Hallum cut their target price on iMedia Brands from $20.00 to $7.00 and set a "buy" rating for the company in a research note on Wednesday, May 25th. Finally, DA Davidson cut their target price on iMedia Brands from $22.00 to $11.00 and set a "buy" rating for the company in a research note on Thursday, June 16th.

Insider Buying and Selling

In other news, CEO Tim Peterman acquired 32,573 shares of the company's stock in a transaction dated Wednesday, May 11th. The shares were acquired at an average price of $3.07 per share, with a total value of $99,999.11. Following the purchase, the chief executive officer now directly owns 622,789 shares of the company's stock, valued at $1,911,962.23. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In other iMedia Brands news, Director Eyal Lalo bought 390,880 shares of the firm's stock in a transaction dated Wednesday, May 11th. The shares were purchased at an average price of $3.07 per share, for a total transaction of $1,200,001.60. Following the transaction, the director now directly owns 2,223,317 shares of the company's stock, valued at approximately $6,825,583.19. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Tim Peterman bought 32,573 shares of the firm's stock in a transaction dated Wednesday, May 11th. The shares were acquired at an average price of $3.07 per share, for a total transaction of $99,999.11. Following the transaction, the chief executive officer now directly owns 622,789 shares in the company, valued at $1,911,962.23. The disclosure for this purchase can be found here. 18.04% of the stock is owned by corporate insiders.

Institutional Trading of iMedia Brands

A number of hedge funds and other institutional investors have recently modified their holdings of IMBI. Russell Investments Group Ltd. increased its position in shares of iMedia Brands by 19.3% during the 4th quarter. Russell Investments Group Ltd. now owns 251,573 shares of the company's stock worth $1,507,000 after purchasing an additional 40,672 shares during the last quarter. D.A. Davidson & CO. acquired a new stake in shares of iMedia Brands during the 4th quarter worth about $105,000. Boston Partners grew its position in iMedia Brands by 30.5% in the 4th quarter. Boston Partners now owns 82,566 shares of the company's stock valued at $495,000 after acquiring an additional 19,314 shares in the last quarter. Potomac Capital Management Inc. purchased a new stake in iMedia Brands during the fourth quarter worth about $720,000. Finally, Royce & Associates LP lifted its position in shares of iMedia Brands by 505.9% during the fourth quarter. Royce & Associates LP now owns 748,774 shares of the company's stock worth $4,493,000 after purchasing an additional 625,197 shares in the last quarter. 33.92% of the stock is owned by institutional investors and hedge funds.

iMedia Brands Company Profile

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iMedia Brands, Inc operates as an interactive media company in the United States and internationally. It operates through three segments: Entertainment, Consumer Brands, and Media Commerce Services. The company operates television networks, including ShopHQ that offers jewelry and watches, home, beauty and health, and fashion and accessories; ShopBulldogTV, which provides male-oriented products and services; ShopHQHealth that offers women and men products and services focused on health and wellness categories, such as physical, mental and spiritual health, financial and motivational wellness, weight management, and telehealth medical services; ShopJewelryHQ for jewelry products and services; and 1-2-3.tv, a retailing marketplace for live and automated auctions.