MIND C.T.I. Ltd (NASDAQ:MNDO) Sees Large Increase in Short Interest

MIND C.T.I. Ltd (NASDAQ:MNDO) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 98,000 shares, an increase of 402.6% from the March 15th total of 19,500 shares. Currently, 0.6% of the shares of the stock are short sold. Based on an average daily volume of 75,200 shares, the days-to-cover ratio is currently 1.3 days.

Hedge Funds Weigh In On MIND C.T.I.

A hedge fund recently raised its stake in MIND C.T.I. stock. Northern Trust Corp lifted its stake in shares of MIND C.T.I. Ltd (NASDAQ:MNDO) by 91.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,009 shares of the information technology services provider’s stock after acquiring an additional 36,781 shares during the period. Northern Trust Corp owned 0.38% of MIND C.T.I. worth $152,000 as of its most recent SEC filing. Institutional investors own 24.32% of the company’s stock.

MIND C.T.I. Price Performance

MIND C.T.I. stock traded down $0.00 during trading hours on Tuesday, hitting $1.68. The stock had a trading volume of 8,522 shares, compared to its average volume of 38,857. The stock has a market capitalization of $34.21 million, a price-to-earnings ratio of 7.64 and a beta of 0.70. MIND C.T.I. has a 1-year low of $1.60 and a 1-year high of $2.13. The stock’s fifty day moving average is $1.93 and its two-hundred day moving average is $1.97.

MIND C.T.I. (NASDAQ:MNDO) last posted its earnings results on Tuesday, March 4th. The information technology services provider reported $0.06 earnings per share for the quarter. MIND C.T.I. had a net margin of 22.08% and a return on equity of 21.27%. The firm had revenue of $5.20 million during the quarter.

MIND C.T.I. Cuts Dividend

The firm also recently disclosed an annual dividend, which was paid on Thursday, April 10th. Stockholders of record on Tuesday, March 25th were given a $0.22 dividend. This represents a dividend yield of 10.9%. The ex-dividend date was Tuesday, March 25th. MIND C.T.I.’s dividend payout ratio is currently 100.00%.

About MIND C.T.I.

MIND C.T.I. Ltd., together with its subsidiaries, develops, markets, sells, and implements billing and customer care software solutions for communication service providers in the Americas, Europe, Israel, the Asia Pacific, and Africa. It operates in two segments, Billing and Related Services, and Messaging.