ASGN Incorporated (NYSE:ASGN) Short Interest Up 6.5% in January

ASGN Incorporated (NYSE:ASGN) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 1,960,000 shares, a growth of 6.5% from the December 31st total of 1,840,000 shares. Currently, 4.6% of the shares of the company are short sold. Based on an average daily volume of 348,900 shares, the days-to-cover ratio is presently 5.6 days.

Insider Transactions at ASGN

In related news, CEO Theodore S. Hanson sold 1,200 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $99.64, for a total transaction of $119,568.00. Following the transaction, the chief executive officer now owns 288,855 shares of the company’s stock, valued at $28,781,512.20. This represents a 0.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On ASGN

A number of large investors have recently modified their holdings of ASGN. Cim Investment Management Inc. purchased a new stake in shares of ASGN during the 3rd quarter valued at about $205,000. Entropy Technologies LP acquired a new position in shares of ASGN in the 4th quarter worth approximately $299,000. Crossmark Global Holdings Inc. grew its position in shares of ASGN by 17.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 5,414 shares of the business services provider’s stock worth $505,000 after acquiring an additional 800 shares in the last quarter. Argent Capital Management LLC grew its position in shares of ASGN by 12.1% in the 3rd quarter. Argent Capital Management LLC now owns 10,559 shares of the business services provider’s stock worth $984,000 after acquiring an additional 1,142 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its position in shares of ASGN by 28.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 11,823 shares of the business services provider’s stock worth $1,102,000 after acquiring an additional 2,600 shares in the last quarter. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ASGN shares. StockNews.com lowered ASGN from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Canaccord Genuity Group reissued a “buy” rating and issued a $115.00 target price on shares of ASGN in a report on Thursday, October 24th. Finally, BMO Capital Markets raised ASGN from a “market perform” rating to an “outperform” rating and upped their target price for the company from $96.00 to $100.00 in a report on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $101.75.

ASGN Trading Down 0.1 %

NYSE ASGN traded down $0.09 during trading hours on Tuesday, hitting $87.31. 27,996 shares of the company’s stock were exchanged, compared to its average volume of 314,737. The business’s 50 day moving average is $88.11 and its 200-day moving average is $91.50. The firm has a market capitalization of $3.86 billion, a P/E ratio of 22.10 and a beta of 1.38. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.25 and a current ratio of 2.25. ASGN has a 12-month low of $82.04 and a 12-month high of $106.42.

ASGN Company Profile

ASGN Incorporated engages in the provision of information technology (IT) services and solutions in the technology, digital, and creative fields for commercial and government sectors in the United States, Canada, and Europe. It operates through two segments: Commercial and Federal Government. The Commercial Segment provides consulting, creative digital marketing, and permanent placement services primarily to enterprise clients.