Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) Sees Significant Increase in Short Interest

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) was the recipient of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 496,700 shares, a growth of 6.0% from the January 15th total of 468,800 shares. Based on an average daily trading volume, of 109,700 shares, the days-to-cover ratio is presently 4.5 days. Currently, 2.7% of the company’s stock are short sold.

Consensus Cloud Solutions Stock Up 1.1 %

CCSI traded up $0.33 during trading on Tuesday, reaching $29.14. 132,848 shares of the company’s stock were exchanged, compared to its average volume of 103,031. Consensus Cloud Solutions has a fifty-two week low of $11.62 and a fifty-two week high of $32.10. The business has a 50 day moving average price of $25.70 and a 200 day moving average price of $23.73. The company has a market capitalization of $562.40 million, a P/E ratio of 6.38 and a beta of 1.45.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Wedbush raised their price objective on Consensus Cloud Solutions from $24.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Oppenheimer increased their target price on shares of Consensus Cloud Solutions from $23.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Citigroup raised their price objective on shares of Consensus Cloud Solutions from $19.00 to $20.00 and gave the company a “sell” rating in a research report on Friday, January 17th. Finally, BTIG Research raised their price objective on shares of Consensus Cloud Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Two research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $26.40.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CCSI. Two Sigma Investments LP increased its stake in shares of Consensus Cloud Solutions by 93.1% in the 4th quarter. Two Sigma Investments LP now owns 28,012 shares of the company’s stock valued at $668,000 after acquiring an additional 13,502 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Consensus Cloud Solutions by 4.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,342 shares of the company’s stock valued at $247,000 after purchasing an additional 456 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Consensus Cloud Solutions in the 4th quarter valued at approximately $1,263,000. Janus Henderson Group PLC grew its position in shares of Consensus Cloud Solutions by 3.0% in the 4th quarter. Janus Henderson Group PLC now owns 2,453,463 shares of the company’s stock valued at $58,540,000 after purchasing an additional 72,589 shares during the period. Finally, Gates Capital Management Inc. grew its position in shares of Consensus Cloud Solutions by 1.0% in the 4th quarter. Gates Capital Management Inc. now owns 1,613,501 shares of the company’s stock valued at $38,498,000 after purchasing an additional 16,245 shares during the period. 93.93% of the stock is owned by institutional investors.

About Consensus Cloud Solutions

Consensus Cloud Solutions, Inc, together with its subsidiaries, provides information delivery services with a software-as-a-service platform worldwide. The company offers eFax Corporate, a digital cloud-fax technology; Unite, a single platform that allows the user to choose between various protocols to send and receive healthcare information and can integrate into an existing electronic health record system or stand-alone if no EHR is present.