Lloyds Banking Group plc (NYSE:LYG) Short Interest Up 53.7% in October

Lloyds Banking Group plc (NYSE:LYG) was the target of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 13,570,000 shares, a growth of 53.7% from the October 15th total of 8,830,000 shares. Based on an average daily trading volume, of 10,250,000 shares, the short-interest ratio is presently 1.3 days. Approximately 0.1% of the company’s stock are short sold.

Hedge Funds Weigh In On Lloyds Banking Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LYG. Transcend Capital Advisors LLC purchased a new position in Lloyds Banking Group in the 2nd quarter worth about $28,000. Interchange Capital Partners LLC purchased a new position in shares of Lloyds Banking Group during the second quarter valued at approximately $28,000. Intergy Private Wealth LLC bought a new position in Lloyds Banking Group during the second quarter valued at approximately $29,000. Tcwp LLC purchased a new stake in Lloyds Banking Group in the second quarter worth approximately $32,000. Finally, Aletheian Wealth Advisors LLC bought a new stake in Lloyds Banking Group in the 3rd quarter worth approximately $34,000. 2.15% of the stock is owned by institutional investors.

Lloyds Banking Group Stock Up 1.5 %

Shares of NYSE LYG traded up $0.04 during midday trading on Thursday, hitting $2.79. The stock had a trading volume of 6,791,697 shares, compared to its average volume of 9,656,563. The business’s 50 day moving average is $3.01 and its 200-day moving average is $2.91. Lloyds Banking Group has a 52 week low of $2.00 and a 52 week high of $3.24. The company has a quick ratio of 1.48, a current ratio of 1.45 and a debt-to-equity ratio of 1.76. The company has a market cap of $42.88 billion, a P/E ratio of 7.13 and a beta of 1.35.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LYG. Citigroup lowered Lloyds Banking Group from a “buy” rating to a “neutral” rating in a research report on Monday, August 5th. The Goldman Sachs Group started coverage on shares of Lloyds Banking Group in a research report on Friday, October 4th. They issued a “neutral” rating on the stock. Morgan Stanley cut shares of Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, October 30th. Kepler Capital Markets assumed coverage on shares of Lloyds Banking Group in a research note on Thursday, September 5th. They set a “hold” rating for the company. Finally, Royal Bank of Canada lowered shares of Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a report on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Lloyds Banking Group presently has a consensus rating of “Hold” and a consensus price target of $2.75.

Lloyds Banking Group Company Profile

Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the United Kingdom and internationally. It operates in three segments: Retail; Commercial Banking; and Insurance, Pensions and Investments. The Retail segment offers a range of financial service products, including current accounts, savings, mortgages, motor finance, unsecured loans, leasing solutions, and credit cards to personal customers.