Five Stocks With Falling Short Interest

#3. Civeo Corporation (Canada) (NYSE:CVEO)

– Change in short interest in the period of June 15-June 30: -78.6%

– Investors with long positions as of March 31: 15

– Aggregate value of investors’ holdings as of March 31: $29.89 Million

The number of shares short in Civeo Corporation (Canada) (NYSE:CVEO) decreased by 3.18 million to approximately 866,000 on the settlement date of June 30. Meanwhile, the number of asset managers followed by Insider Monkey with equity investments in Civeo remained unchanged at 15 during the first three months of 2016, whereas the aggregate value of those investments fell by 15% quarter-on-quarter to $29.89 million. The 15 asset managers invested in Civeo on March 31 accumulated nearly 21% of the company’s total number of outstanding shares. The shares of the Houston-based provider of workforce accommodations to the natural resource industry in Canada, Australia and the U.S. are up 20% since the start of 2016. Expectedly, demand for Civeo Corporations’ services are mainly tied to the outlook for crude oil and met coal prices. Roughly 80% of the company’s rooms in Australia are located in the Bowen Basin and serve met coal mines in the region. Jim Simons’ Renaissance Technologies was the owner of 5.73 million shares of Civeo Corporation (Canada) (NYSE:CVEO) at the end of the first quarter.

#2. Atkore International Group Inc. (NYSE:NYSE:ATKR)

– Change in short interest in the period of June 15-June 30: -80.8%

– Investors with long positions as of March 31: no data

– Aggregate value of investors’ holdings as of March 31: no data

On June 30, Atkore International Group Inc. (NYSE:ATKR)’s short interest as a percentage of its float was 2.9%. Atkore’s short interest decreased by 80.8% during the second half of June to 348,356. The marker of electrical raceway products for the non-residential and renovation markets recently went public by selling 12 million shares at an IPO price of $16 a share, significantly below the range of $20-to-$22 the company targeted in its regulatory filings. Private equity firm Clayton, Dubilier & Rice LLC, the owner of the maker of electrical circuitry products, will control a majority of the company’s 62.46 million outstanding shares. The company did not receive any proceeds from the public offering. Atkore International operates in a $13 billion subset of the $78 billion U.S. electrical products market, with the company having an 8% share of this $13 billion-market. The company’s existing product offering addresses roughly $4 billion of the total market opportunity.

#1. Accuride Corporation (NYSE:ACW)

– Change in short interest in the period of June 15-June 30: -83.9%

– Investors with long positions as of March 31: 11

– Aggregate value of investors’ holdings as of March 31: $16.70 Million

Accuride Corporation (NYSE:ACW)’s short interest plunged by nearly 84% during the second half of June to 260,908 shares. As for the hedge fund sentiment, the number of asset managers from our system with stakes in the company fell to 11 from 13 during the first quarter, while the overall value of those stakes decreased to $16.70 million from $18.64 million quarter-on-quarter. Those 11 money managers hoarded up almost 23% of the company’s outstanding common stock. The manufacturer and supplier of commercial vehicle components has seen its market capitalization decrease by 22% since the start of the year. Accuride reported net sales of $160.94 million for the first three months of 2016, which decreased by 12.4% year-on-year. The decrease was mainly driven by continued softness in demand at the company’s Brillion business unit, pricing related to the pass-through of lower raw material costs, as well as lower demand in North American wheels. Peter Algert and Kevin Coldiron’s Algert Coldiron Investors owned 745,212 shares of Accuride Corporation (NYSE:ACW) at the end of March.

Disclosure: None