Five NYSE Stocks With Sinking Short Interest

Earlier this week, Monster Worldwide, Inc. (NYSE:MWW) has issued a statement in response to MediaNews Group’s letter to the company. MediaNews had revealed a large stake in Monster Worldwide last month and had opposed the company’s sale to Randstad. Monster noted that this transaction provides shareholders with immediate and certain cash value of $3.40 per share, while MediaNews Group’s strategy to deliver shareholder value is still unclear. Monster Worldwide has also seen a sharp drop in short interest in the most recent period. Short interest slid by 48.8% to 5.2% in the second half of August. Short ratio stood at 2 at the end of the last month. A total of 19 funds we track were long Monster Worldwide at the end of the June quarter, unchanged over the quarter, while the total value of their holdings declined to $26.61 million, which equals to 12.50% of the outstanding stock, from $34.93 million a quarter earlier.

Hershey Co (NYSE:HSY) shares saw a sharp pullback late last month after Mondelez International Inc (NASDAQ:MDLZ) said that it is dropping its bid for the company. Hershey had received a $23 billion takeover offer from Mondelez back in June. Mondelez though voluntarily decided to drop the bid. Nevertheless, Hershey’s stock saw a drop in its short interest at the end of the last month. On August 31, short interest in the company stood at 1.1%, down by 46.2% from August 15th. while short ratio stood at 1 at the end of the month. A total of 28 investors from our database amassed $632.34 million worth of Hershey shares at the end of the second quarter, compared to 21 funds holding $472.94 million worth of shares at the end of March.

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