Short Interest in Rentokil Initial plc (NYSE:RTO) Increases By 60.6%

Rentokil Initial plc (NYSE:RTO) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 3,630,000 shares, a growth of 60.6% from the October 15th total of 2,260,000 shares. Based on an average daily volume of 900,600 shares, the days-to-cover ratio is currently 4.0 days. Approximately 0.7% of the shares of the company are sold short.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on RTO shares. Barclays raised Rentokil Initial to a “strong-buy” rating in a report on Friday, July 26th. Sanford C. Bernstein raised Rentokil Initial from an “underperform” rating to a “market perform” rating in a report on Monday, July 22nd. Finally, Redburn Atlantic downgraded Rentokil Initial from a “buy” rating to a “neutral” rating in a research note on Thursday, September 19th. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $29.00.

Institutional Investors Weigh In On Rentokil Initial

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC raised its position in Rentokil Initial by 3.8% in the 3rd quarter. Janus Henderson Group PLC now owns 16,990,179 shares of the company’s stock valued at $423,573,000 after buying an additional 617,227 shares during the last quarter. Clearbridge Investments LLC raised its position in Rentokil Initial by 5.7% in the 1st quarter. Clearbridge Investments LLC now owns 2,015,514 shares of the company’s stock valued at $60,768,000 after buying an additional 109,561 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Rentokil Initial by 130.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,839,135 shares of the company’s stock valued at $54,530,000 after buying an additional 1,041,860 shares during the last quarter. River Road Asset Management LLC purchased a new stake in Rentokil Initial in the 3rd quarter valued at $44,055,000. Finally, Lazard Asset Management LLC raised its position in Rentokil Initial by 345,196.7% in the 1st quarter. Lazard Asset Management LLC now owns 1,560,741 shares of the company’s stock valued at $47,056,000 after buying an additional 1,560,289 shares during the last quarter. 9.91% of the stock is owned by hedge funds and other institutional investors.

Rentokil Initial Stock Down 0.4 %

Shares of RTO opened at $25.53 on Friday. Rentokil Initial has a 12-month low of $22.40 and a 12-month high of $34.07. The business’s fifty day moving average is $25.17 and its 200 day moving average is $27.91. The company has a current ratio of 1.04, a quick ratio of 0.96 and a debt-to-equity ratio of 0.75.

About Rentokil Initial

Rentokil Initial plc, together with its subsidiaries, provides route-based services in North America, the United Kingdom, rest of Europe, Asia, the Pacific, and internationally. It offers a range of pest control services for rodents, and flying and crawling insects, as well as other forms of wildlife management for commercial customers.