Short Interest in Rentokil Initial plc (NYSE:RTO) Declines By 22.1%

Rentokil Initial plc (NYSE:RTO) saw a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 2,960,000 shares, a decrease of 22.1% from the December 15th total of 3,800,000 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average daily trading volume, of 755,800 shares, the days-to-cover ratio is currently 3.9 days.

Rentokil Initial Price Performance

NYSE RTO traded down $0.20 during trading hours on Friday, reaching $23.82. The company’s stock had a trading volume of 646,045 shares, compared to its average volume of 625,850. The company’s 50-day moving average is $25.49 and its two-hundred day moving average is $27.24. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.96 and a current ratio of 1.04. Rentokil Initial has a 1-year low of $22.40 and a 1-year high of $34.07.

Analysts Set New Price Targets

RTO has been the subject of several research reports. Citigroup upgraded shares of Rentokil Initial to a “strong-buy” rating in a research note on Friday, December 13th. Redburn Atlantic lowered Rentokil Initial from a “buy” rating to a “neutral” rating in a report on Thursday, September 19th. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Rentokil Initial presently has a consensus rating of “Moderate Buy” and an average price target of $29.00.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RTO. Northwestern Mutual Wealth Management Co. increased its holdings in Rentokil Initial by 403.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,052 shares of the company’s stock worth $31,000 after acquiring an additional 843 shares in the last quarter. Anthracite Investment Company Inc. increased its stake in shares of Rentokil Initial by 211.3% during the third quarter. Anthracite Investment Company Inc. now owns 214,402 shares of the company’s stock worth $5,345,000 after purchasing an additional 145,528 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of Rentokil Initial by 165.8% during the third quarter. Oppenheimer & Co. Inc. now owns 55,604 shares of the company’s stock worth $1,386,000 after purchasing an additional 34,687 shares in the last quarter. Veracity Capital LLC acquired a new position in shares of Rentokil Initial during the 3rd quarter worth about $644,000. Finally, Janus Henderson Group PLC lifted its stake 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 in the last quarter. 9.91% of the stock is owned by institutional investors and hedge funds.

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.