What Next for Nike Incorporated (NYSE:NKE) Stock After Decrease in Shorted Shares?

July 18, 2017 - By Adrian Erickson

 What Next for Nike Incorporated (NYSE:NKE) Stock After Decrease in Shorted Shares?

Investors sentiment increased to 0.98 in 2016 Q4. Its up 0.04, from 0.94 in 2016Q3. It improved, as 84 investors sold Nike Inc shares while 443 reduced holdings. 112 funds opened positions while 405 raised stakes. 993.29 million shares or 0.55% less from 998.81 million shares in 2016Q3 were reported.
Freestone Capital Limited Liability Corp reported 483,502 shares stake. Kbc Grp Inc Nv holds 0.15% or 293,094 shares. Montag A Assoc Inc has 0.32% invested in Nike Inc (NYSE:NKE). Pensionfund Dsm Netherlands reported 0.61% of its portfolio in Nike Inc (NYSE:NKE). Moreover, Cullinan Assoc has 0.31% invested in Nike Inc (NYSE:NKE) for 71,530 shares. Segment Wealth Limited Liability Corp has 59,507 shares for 1.11% of their portfolio. Nippon Life has 0.05% invested in Nike Inc (NYSE:NKE). Manufacturers Life The owns 0.14% invested in Nike Inc (NYSE:NKE) for 1.95 million shares. Ubs Asset Mngmt Americas accumulated 5.15M shares. Shell Asset Mngmt Communications, a Netherlands-based fund reported 136,388 shares. Roundview Cap Limited Com owns 35,237 shares or 0.57% of their US portfolio. Crawford Inv Counsel Incorporated stated it has 28,204 shares or 0.05% of all its holdings. Hm Payson And Communication invested in 0.2% or 84,490 shares. Hl Financial Limited Liability Company holds 129,810 shares or 0.14% of its portfolio. Bessemer Gru stated it has 2.24M shares.

Since January 30, 2017, it had 1 insider buy, and 7 selling transactions for $30.70 million activity. PARKER MARK G sold $5.55M worth of stock. Another trade for 50,000 shares valued at $2.85M was sold by SPRUNK ERIC D. The insider LECHLEITER JOHN C bought 1,000 shares worth $56,301. Ayre David J also sold $10.62 million worth of Nike Inc (NYSE:NKE) shares.

The stock of Nike Incorporated (NYSE:NKE) registered a decrease of 1.17% in short interest. NKE’s total short interest was 28.16 million shares in July as published by FINRA. Its down 1.17% from 28.49 million shares, reported previously. With 10.08 million shares average volume, it will take short sellers 3 days to cover their NKE’s short positions. The short interest to Nike Incorporated’s float is 2.17%.

The stock decreased 0.38% or $0.22 on July 17, reaching $57.79. About shares traded. Nike Inc (NYSE:NKE) has declined 9.24% since July 18, 2016 and is downtrending. It has underperformed by 25.94% the S&P500.

NIKE, Inc. is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The company has market cap of $95.27 billion. The Company’s operating divisions include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. It has a 23.07 P/E ratio. The Company’s portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

Nike Inc (NYSE:NKE) Ratings Coverage

Among 41 analysts covering Nike Inc. (NYSE:NKE), 24 have Buy rating, 2 Sell and 15 Hold. Therefore 59% are positive. Nike Inc. had 160 analyst reports since July 29, 2015 according to SRatingsIntel. The rating was maintained by Stifel Nicolaus on Wednesday, September 28 with “Buy”. The firm has “Outperform” rating given on Monday, August 24 by Telsey Advisory Group. Credit Suisse maintained the stock with “Outperform” rating in Wednesday, June 29 report. DA Davidson maintained Nike Inc (NYSE:NKE) rating on Wednesday, December 23. DA Davidson has “Buy” rating and $156.0 target. As per Thursday, October 15, the company rating was maintained by FBR Capital. The firm has “Buy” rating by DA Davidson given on Wednesday, September 28. Stifel Nicolaus maintained it with “Buy” rating and $146 target in Tuesday, December 15 report. The firm has “Buy” rating by Goldman Sachs given on Wednesday, June 29. Deutsche Bank maintained Nike Inc (NYSE:NKE) on Tuesday, April 11 with “Buy” rating. The stock has “Buy” rating by UBS on Wednesday, September 28.

More notable recent Nike Inc (NYSE:NKE) news were published by: Seekingalpha.com which released: “Nike Still Isn’t A Buy” on July 13, 2017, also Fool.com with their article: “Why Nike, Inc. Stock Popped 11.3% in June” published on July 05, 2017, Fool.com published: “Better Buy: Nike, Inc. vs. Under Armour” on July 06, 2017. More interesting news about Nike Inc (NYSE:NKE) were released by: Investorplace.com and their article: “Under Armour Inc (UAA) Should Copy Nike and Partner With Amazon.com” published on July 18, 2017 as well as Fool.com‘s news article titled: “Nike, Inc. Ends the Fiscal Year on a High Note” with publication date: June 30, 2017.

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