Xcel Brands, Inc. (NASDAQ:XELB – Get Free Report) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 61,200 shares, a growth of 25.2% from the March 15th total of 48,900 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average daily volume of 46,000 shares, the short-interest ratio is currently 1.3 days.
Insider Activity at Xcel Brands
In related news, Director Mark Disanto acquired 146,250 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average cost of $0.65 per share, for a total transaction of $95,062.50. Following the completion of the acquisition, the director now directly owns 1,174,263 shares of the company’s stock, valued at approximately $763,270.95. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 52.41% of the stock is currently owned by company insiders.
Institutional Trading of Xcel Brands
Large investors have recently bought and sold shares of the business. Mariner LLC acquired a new stake in Xcel Brands during the 3rd quarter worth about $42,000. Vanguard Group Inc. boosted its position in shares of Xcel Brands by 36.3% during the 1st quarter. Vanguard Group Inc. now owns 360,472 shares of the textile maker’s stock worth $537,000 after purchasing an additional 95,997 shares in the last quarter. Finally, Potomac Capital Management Inc. boosted its position in shares of Xcel Brands by 23.4% during the 4th quarter. Potomac Capital Management Inc. now owns 779,452 shares of the textile maker’s stock worth $1,005,000 after purchasing an additional 148,050 shares in the last quarter. 18.55% of the stock is currently owned by institutional investors and hedge funds.
Xcel Brands Stock Performance
Analysts Set New Price Targets
Separately, StockNews.com started coverage on Xcel Brands in a report on Saturday. They set a “sell” rating for the company.
Read Our Latest Analysis on Xcel Brands
About Xcel Brands
Xcel Brands, Inc, together with its subsidiaries, operates as a media and consumer products company in the United States. The company designs, produces, markets, wholesales, and sells branded apparel, footwear, accessories, jewelry, home goods, and other consumer products; and acquires consumer lifestyle brands, including the Isaac Mizrahi, the LOGO by Lori Goldstein, the Judith Ripka, the Halston Brand, the C Wonder, and other brands, as well as manages the Longaberger brand.
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