Nomad Foods Limited (NOMD) Sees Large Decrease in Short Interest

Nomad Foods Limited (NYSE:NOMD) was the target of a significant drop in short interest in the month of September. As of September 29th, there was short interest totalling 230,780 shares, a drop of 59.2% from the September 15th total of 565,336 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily volume of 1,361,045 shares, the days-to-cover ratio is presently 0.2 days.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership grew its stake in Nomad Foods Limited by 25.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,530,548 shares of the company’s stock valued at $21,596,000 after acquiring an additional 312,815 shares during the last quarter. Cubist Systematic Strategies LLC grew its stake in Nomad Foods Limited by 106.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 121,677 shares of the company’s stock valued at $1,717,000 after acquiring an additional 62,723 shares during the last quarter. Elliott Management Corp acquired a new stake in Nomad Foods Limited in the 2nd quarter valued at about $15,427,000. Janus Henderson Group PLC acquired a new stake in Nomad Foods Limited in the 2nd quarter valued at about $38,402,000. Finally, Employees Retirement System of Texas grew its stake in Nomad Foods Limited by 74.9% in the 2nd quarter. Employees Retirement System of Texas now owns 355,000 shares of the company’s stock valued at $5,009,000 after acquiring an additional 152,000 shares during the last quarter. 78.20% of the stock is currently owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research lowered shares of Nomad Foods Limited from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 15th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $15.00.

Shares of Nomad Foods Limited (NOMD) opened at 14.95 on Tuesday. The firm has a market cap of $2.58 billion and a price-to-earnings ratio of 33.15. Nomad Foods Limited has a 12 month low of $9.00 and a 12 month high of $15.49. The stock has a 50 day moving average of $14.90 and a 200 day moving average of $13.73.

Nomad Foods Limited (NYSE:NOMD) last posted its quarterly earnings results on Friday, August 25th. The company reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.03. Nomad Foods Limited had a net margin of 3.56% and a return on equity of 7.93%. The business had revenue of $458.10 million for the quarter, compared to analysts’ expectations of $459.51 million. During the same period in the prior year, the company posted $0.19 EPS. The business’s revenue for

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership grew its stake in Nomad Foods Limited by 25.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,530,548 shares of the company’s stock valued at $21,596,000 after acquiring an additional 312,815 shares during the last quarter. Cubist Systematic Strategies LLC grew its stake in Nomad Foods Limited by 106.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 121,677 shares of the company’s stock valued at $1,717,000 after acquiring an additional 62,723 shares during the last quarter. Elliott Management Corp acquired a new stake in Nomad Foods Limited in the 2nd quarter valued at about $15,427,000. Janus Henderson Group PLC acquired a new stake in Nomad Foods Limited in the 2nd quarter valued at about $38,402,000. Finally, Employees Retirement System of Texas grew its stake in Nomad Foods Limited by 74.9% in the 2nd quarter. Employees Retirement System of Texas now owns 355,000 shares of the company’s stock valued at $5,009,000 after acquiring an additional 152,000 shares during the last quarter. 78.20% of the stock is currently owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research lowered shares of Nomad Foods Limited from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 15th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $15.00.

Shares of Nomad Foods Limited (NOMD) opened at 14.95 on Tuesday. The firm has a market cap of $2.58 billion and a price-to-earnings ratio of 33.15. Nomad Foods Limited has a 12 month low of $9.00 and a 12 month high of $15.49. The stock has a 50 day moving average of $14.90 and a 200 day moving average of $13.73.

Nomad Foods Limited (NYSE:NOMD) last posted its quarterly earnings results on Friday, August 25th. The company reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.03. Nomad Foods Limited had a net margin of 3.56% and a return on equity of 7.93%. The business had revenue of $458.10 million for the quarter, compared to analysts’ expectations of $459.51 million. During the same period in the prior year, the company posted $0.19 EPS. The business’s revenue for the quarter was up .5% on a year-over-year basis. On average, equities research analysts expect that Nomad Foods Limited will post $1.10 EPS for the current fiscal year.

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About Nomad Foods Limited

Nomad Foods Limited manufactures and distributes frozen foods primarily in the United Kingdom, Italy, Germany, Sweden, France, and Norway. The company’s frozen food products include fish, vegetables, poultry products, and ready meals. It sells its products directly or through distribution arrangements to supermarkets and large food retail chains under the Birdseye, Findus, and Iglo brands.

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