Ingles Markets, Incorporated (NASDAQ:IMKTA) Sees Significant Growth in Short Interest

Ingles Markets, Incorporated (NASDAQ:IMKTA) saw a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 709,200 shares, an increase of 20.5% from the October 31st total of 588,400 shares. Based on an average daily volume of 146,300 shares, the days-to-cover ratio is presently 4.8 days.

Ingles Markets Stock Down 1.3 %

Shares of Ingles Markets stock traded down $0.99 during trading hours on Monday, reaching $72.91. 114,986 shares of the company’s stock were exchanged, compared to its average volume of 101,919. The company has a current ratio of 2.99, a quick ratio of 1.49 and a debt-to-equity ratio of 0.34. The company has a 50 day moving average of $67.66 and a two-hundred day moving average of $70.87. The stock has a market cap of $1.38 billion, a P/E ratio of 8.68 and a beta of 0.72. Ingles Markets has a fifty-two week low of $59.73 and a fifty-two week high of $89.59.

Ingles Markets Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, October 10th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Thursday, October 10th. Ingles Markets’s payout ratio is presently 7.86%.

Analyst Ratings Changes

Separately, StockNews.com cut Ingles Markets from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 21st.

Hedge Funds Weigh In On Ingles Markets

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Ingles Markets by 413.9% in the third quarter. GAMMA Investing LLC now owns 406 shares of the company’s stock valued at $30,000 after acquiring an additional 327 shares during the last quarter. CWM LLC grew its holdings in Ingles Markets by 240.9% during the second quarter. CWM LLC now owns 433 shares of the company’s stock worth $30,000 after purchasing an additional 306 shares during the period. Canada Pension Plan Investment Board acquired a new position in Ingles Markets during the second quarter worth approximately $69,000. Signaturefd LLC raised its stake in Ingles Markets by 101.0% in the second quarter. Signaturefd LLC now owns 1,003 shares of the company’s stock valued at $69,000 after buying an additional 504 shares during the period. Finally, Innealta Capital LLC acquired a new stake in shares of Ingles Markets in the second quarter valued at approximately $74,000. 62.54% of the stock is currently owned by institutional investors and hedge funds.

Ingles Markets Company Profile

Ingles Markets, Incorporated, together with its subsidiaries, operates a chain of supermarkets in the southeast United States. It offers food products, including grocery, meat and dairy products, produce, frozen foods, and other perishables; and non-food products, which include fuel centers, pharmacies, health and beauty care products, and general merchandise, as well as private label items.