What Will Happen to Fleetcor Tech Incorporated (NYSE:FLT) Next? The Stock Has Increase in Shorts

August 24, 2017 - By Marry Poplack

 What Will Happen to Fleetcor Tech Incorporated (NYSE:FLT) Next? The Stock Has Increase in Shorts

Investors sentiment decreased to 0.84 in Q4 2016. Its down 0.23, from 1.07 in 2016Q3. It fall, as 52 investors sold FleetCor Technologies, Inc. shares while 125 reduced holdings. 45 funds opened positions while 103 raised stakes. 85.90 million shares or 1.20% more from 84.88 million shares in 2016Q3 were reported.
Panagora Asset Mgmt holds 0% of its portfolio in FleetCor Technologies, Inc. (NYSE:FLT) for 2,385 shares. Carroll Fincl Associates Inc holds 0% or 33 shares in its portfolio. Strategic Ltd Company stated it has 0.17% in FleetCor Technologies, Inc. (NYSE:FLT). State Treasurer State Of Michigan reported 0.01% of its portfolio in FleetCor Technologies, Inc. (NYSE:FLT). Princeton Alpha Lp owns 0.04% invested in FleetCor Technologies, Inc. (NYSE:FLT) for 1,533 shares. Canada Pension Plan Inv Board owns 33 shares. Echo Street Capital Management Lc owns 481,375 shares. Hsbc Hldg Public Limited Co accumulated 0.01% or 20,092 shares. National Pension Serv reported 70,886 shares. Fincl Architects stated it has 0% of its portfolio in FleetCor Technologies, Inc. (NYSE:FLT). Westpac Bk, a Australia-based fund reported 8,601 shares. Pennant Capital Mgmt Ltd Liability Com owns 710,864 shares. Osterweis Capital Mgmt accumulated 295,608 shares or 3.01% of the stock. Macquarie Grp Inc Limited has 25,892 shares for 0.01% of their portfolio. Korea Corporation invested in 109 shares.

The stock of Fleetcor Tech Incorporated (NYSE:FLT) registered an increase of 7.63% in short interest. FLT’s total short interest was 3.64 million shares in August as published by FINRA. Its up 7.63% from 3.39 million shares, reported previously. With 1.13 million shares average volume, it will take short sellers 3 days to cover their FLT’s short positions. The short interest to Fleetcor Tech Incorporated’s float is 4.3%.

About 143,193 shares traded. FleetCor Technologies, Inc. (NYSE:FLT) has declined 6.67% since August 24, 2016 and is downtrending. It has underperformed by 23.37% the S&P500.

FleetCor Technologies, Inc. is a provider of workforce payment products. The company has market cap of $13.02 billion. The Firm offers fuel card payments product solutions, corporate payments products, toll products, lodging cards and gift cards. It has a 28.01 P/E ratio. The Firm operates through two divisions: North America and International.

FleetCor Technologies, Inc. (NYSE:FLT) Ratings Coverage

Among 15 analysts covering Fleetcor Technologies (NYSE:FLT), 14 have Buy rating, 0 Sell and 1 Hold. Therefore 93% are positive. Fleetcor Technologies had 37 analyst reports since August 6, 2015 according to SRatingsIntel. The firm has “Strong Buy” rating by Raymond James given on Tuesday, May 2. The firm has “Buy” rating given on Wednesday, April 5 by Jefferies. The stock of FleetCor Technologies, Inc. (NYSE:FLT) earned “Hold” rating by Evercore on Wednesday, September 30. The company was initiated on Friday, December 11 by Credit Suisse. The rating was initiated by Compass Point on Friday, April 15 with “Neutral”. The rating was maintained by Oppenheimer on Thursday, August 3 with “Buy”. The stock of FleetCor Technologies, Inc. (NYSE:FLT) has “Positive” rating given on Thursday, August 6 by Susquehanna. On Friday, August 14 the stock rating was maintained by JP Morgan with “Neutral”. The stock of FleetCor Technologies, Inc. (NYSE:FLT) earned “Buy” rating by Evercore on Friday, March 18. The company was maintained on Wednesday, January 27 by Monness Crespi & Hardt.

More news for FleetCor Technologies, Inc. (NYSE:FLT) were recently published by: Seekingalpha.com, which released: “FleetCor: A Low Price For A High Growth Company” on August 07, 2017. Gurufocus.com‘s article titled: “Steadfast Capital Management Lp Buys Fleetcor Technologies Inc, Viacom Inc …” and published on August 14, 2017 is yet another important article.

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