Time to Reconsider Mercury General Corporation (NYSE:MCY) After Less Short Sellers?

February 15, 2018 - By Clifton Ray

 Time to Reconsider Mercury General Corporation (NYSE:MCY) After Less Short Sellers?

Investors sentiment increased to 1.51 in 2017 Q3. Its up 0.47, from 1.04 in 2017Q2. It is positive, as 4 investors sold Mercury General Corporation shares while 51 reduced holdings. 24 funds opened positions while 59 raised stakes. 25.16 million shares or 2.63% less from 25.84 million shares in 2017Q2 were reported.
Rafferty Asset Mgmt Limited Liability has invested 0.01% of its portfolio in Mercury General Corporation (NYSE:MCY). Arizona State Retirement System reported 20,713 shares stake. Federated Pa reported 18,829 shares or 0% of all its holdings. California State Teachers Retirement System owns 45,609 shares for 0.01% of their portfolio. Verition Fund Mgmt Limited Com holds 0.05% in Mercury General Corporation (NYSE:MCY) or 11,537 shares. Ameritas Invest Prtn holds 0.04% or 14,877 shares. Fifth Third Commercial Bank reported 750 shares or 0% of all its holdings. Zacks Inv Management invested in 0.05% or 34,617 shares. Brookstone Cap Management reported 0.03% of its portfolio in Mercury General Corporation (NYSE:MCY). Citigroup Inc accumulated 4,977 shares. Jnba Fincl stated it has 53 shares. First Quadrant Limited Partnership Ca, California-based fund reported 101 shares. Weaver C Barksdale Assocs holds 0.02% or 294 shares in its portfolio. Citadel Advsrs Ltd Company invested 0.01% of its portfolio in Mercury General Corporation (NYSE:MCY). State Bank Of Ny Mellon stated it has 467,774 shares.

Since February 8, 2018, it had 1 insider buy, and 0 insider sales for $21,338 activity.

The stock of Mercury General Corporation (NYSE:MCY) registered a decrease of 0.31% in short interest. MCY’s total short interest was 2.32M shares in February as published by FINRA. Its down 0.31% from 2.33M shares, reported previously. With 143,000 shares average volume, it will take short sellers 16 days to cover their MCY’s short positions. The short interest to Mercury General Corporation’s float is 8.54%.

The stock increased 2.11% or $0.94 during the last trading session, reaching $45.42. About 169,636 shares traded. Mercury General Corporation (NYSE:MCY) has risen 6.61% since February 15, 2017 and is uptrending. It has underperformed by 10.09% the S&P500.

Mercury General Corporation, together with its subsidiaries, engages in writing personal automobile insurance in the United States. The company has market cap of $2.51 billion. The firm also writes homeowners, commercial automobile, commercial property, mechanical breakdown, and umbrella insurance. It has a 17.34 P/E ratio. The Company’s automobile insurance products cover collision, property damage, bodily injury, comprehensive, personal injury protection, underinsured and uninsured motorist, and other hazards; and homeownerÂ’s insurance products cover dwelling, liability, personal property, fire, and other hazards.

Mercury General Corporation (NYSE:MCY) Ratings Coverage

Among 2 analysts covering Mercury General (NYSE:MCY), 0 have Buy rating, 0 Sell and 2 Hold. Therefore 0 are positive. Mercury General had 3 analyst reports since August 26, 2015 according to SRatingsIntel. The stock of Mercury General Corporation (NYSE:MCY) earned “Mkt Perform” rating by Raymond James on Friday, February 19. The rating was upgraded by Zacks to “Sell” on Wednesday, August 26. Compass Point maintained the shares of MCY in report on Tuesday, May 3 with “Neutral” rating.

More notable recent Mercury General Corporation (NYSE:MCY) news were published by: Nasdaq.com which released: “Mercury General Corporation (MCY) Ex-Dividend Date Scheduled for December 13, 2017” on December 12, 2017, also Seekingalpha.com with their article: “Mercury General’s (MCY) CEO Gabriel Tirador on Q3 2017 Results – Earnings Call …” published on October 30, 2017, Prnewswire.com published: “Mercury General Corporation To Report Fourth Quarter 2017 Results On February …” on January 10, 2018. More interesting news about Mercury General Corporation (NYSE:MCY) were released by: Prnewswire.com and their article: “Mercury General Corporation To Report Third Quarter Results On October 30, 2017” published on October 09, 2017 as well as Seekingalpha.com‘s news article titled: “”Mini-Crat” Profile: Mercury General’s 4.99% Yield Is Safe” with publication date: January 16, 2018.

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