Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) Sees Large Increase in Short Interest

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) was the recipient of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 666,700 shares, an increase of 25.9% from the May 31st total of 529,400 shares. Approximately 3.8% of the company’s stock are sold short. Based on an average trading volume of 246,100 shares, the days-to-cover ratio is presently 2.7 days.

Institutional Investors Weigh In On Consensus Cloud Solutions

A number of institutional investors have recently modified their holdings of the stock. Heron Bay Capital Management lifted its holdings in Consensus Cloud Solutions by 63.7% during the 1st quarter. Heron Bay Capital Management now owns 1,100,425 shares of the company’s stock worth $17,453,000 after buying an additional 428,232 shares during the last quarter. Kent Lake Capital LLC bought a new position in Consensus Cloud Solutions during the first quarter worth $2,312,000. Allspring Global Investments Holdings LLC boosted its holdings in Consensus Cloud Solutions by 3,943.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 114,549 shares of the company’s stock worth $1,817,000 after purchasing an additional 111,716 shares during the period. GSA Capital Partners LLP boosted its holdings in Consensus Cloud Solutions by 323.3% in the first quarter. GSA Capital Partners LLP now owns 60,564 shares of the company’s stock worth $961,000 after purchasing an additional 46,255 shares during the period. Finally, Trexquant Investment LP bought a new stake in Consensus Cloud Solutions during the fourth quarter valued at $923,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CCSI shares. Wedbush reiterated an “outperform” rating and set a $24.00 price objective on shares of Consensus Cloud Solutions in a research note on Friday, May 10th. Oppenheimer dropped their price target on shares of Consensus Cloud Solutions from $29.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th.

Consensus Cloud Solutions Stock Down 3.7 %

CCSI stock opened at $16.55 on Tuesday. The stock’s 50 day moving average is $16.98 and its two-hundred day moving average is $17.92. Consensus Cloud Solutions has a 52-week low of $11.62 and a 52-week high of $35.29. The company has a market capitalization of $318.09 million, a PE ratio of 3.65 and a beta of 1.34.

Consensus Cloud Solutions (NASDAQ:CCSI) last released its quarterly earnings results on Wednesday, May 8th. The company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.30. The business had revenue of $88.15 million during the quarter, compared to the consensus estimate of $87.29 million. Consensus Cloud Solutions had a net margin of 24.55% and a negative return on equity of 49.60%. As a group, sell-side analysts anticipate that Consensus Cloud Solutions will post 4.51 EPS for the current year.

Consensus Cloud Solutions Company Profile

Consensus Cloud Solutions, Inc, together with its subsidiaries, provides information delivery services with a software-as-a-service platform worldwide. The company offers eFax Corporate, a digital cloud-fax technology; Unite, a single platform that allows the user to choose between various protocols to send and receive healthcare information and can integrate into an existing electronic health record system or stand-alone if no EHR is present.