Time to Reconsider Globant SA (NYSE:GLOB) After More Short Sellers?

June 9, 2017 - By Maria Brooks

 Time to Reconsider Globant SA (NYSE:GLOB) After More Short Sellers?

Investors sentiment decreased to 1.13 in Q4 2016. Its down 0.30, from 1.43 in 2016Q3. It worsened, as 20 investors sold Globant SA shares while 32 reduced holdings. 19 funds opened positions while 40 raised stakes. 20.80 million shares or 15.20% more from 18.05 million shares in 2016Q3 were reported.
Rwc Asset Management Llp reported 259,840 shares or 0.57% of all its holdings. Dimensional Fund Advisors L P owns 140,933 shares. Commonwealth National Bank Of reported 723 shares. The Massachusetts-based Massachusetts Financial Serv Com Ma has invested 0.02% in Globant SA (NYSE:GLOB). Stephens Management Ltd Co reported 180,925 shares. Wellington Group Llp reported 278,536 shares. Globeflex Capital Limited Partnership owns 509 shares. Parametric Port Associate Lc holds 0% of its portfolio in Globant SA (NYSE:GLOB) for 15,602 shares. Aberdeen Asset Mgmt Public Ltd Uk stated it has 170,577 shares. Axiom Interest Investors De holds 0.03% of its portfolio in Globant SA (NYSE:GLOB) for 36,046 shares. Retail Bank Of Mellon holds 67,558 shares. Gilder Gagnon Howe And Company Lc reported 0.02% stake. Blackrock Advsr Limited Liability Co stated it has 80,787 shares or 0% of all its holdings. Voya Investment Mgmt Limited Com reported 0% in Globant SA (NYSE:GLOB). Moreover, Polar Capital Llp has 0.2% invested in Globant SA (NYSE:GLOB) for 374,282 shares.

The stock of Globant SA (NYSE:GLOB) registered an increase of 5.29% in short interest. GLOB’s total short interest was 3.27M shares in June as published by FINRA. Its up 5.29% from 3.11M shares, reported previously. With 126,100 shares average volume, it will take short sellers 26 days to cover their GLOB’s short positions. The short interest to Globant SA’s float is 13.66%.

About 110,563 shares traded. Globant SA (NYSE:GLOB) has risen 4.32% since June 9, 2016 and is uptrending. It has underperformed by 12.38% the S&P500.

Globant S.A. is a digitally native technology services company. The company has market cap of $1.61 billion. The Company’s principal operating subsidiary is based in Buenos Aires, Argentina. It has a 43.21 P/E ratio. During the year ended December 31, 2015, 83.7% of its revenues were generated by clients in North America, 11.0% in Latin America and Asia, and 5.3% in Europe.

Globant SA (NYSE:GLOB) Ratings Coverage

Among 8 analysts covering Globant SA (NYSE:GLOB), 6 have Buy rating, 0 Sell and 2 Hold. Therefore 75% are positive. Globant SA had 14 analyst reports since July 27, 2015 according to SRatingsIntel. The rating was initiated by SunTrust with “Buy” on Monday, December 21. The rating was maintained by Jefferies with “Hold” on Monday, May 16. Jefferies initiated it with “Hold” rating and $30 target in Wednesday, August 12 report. The firm earned “Outperform” rating on Friday, September 9 by Wedbush. The firm has “Buy” rating given on Thursday, August 11 by Citigroup. The rating was maintained by JP Morgan on Thursday, August 11 with “Overweight”. Cantor Fitzgerald initiated Globant SA (NYSE:GLOB) on Friday, October 16 with “Hold” rating. On Thursday, December 17 the stock rating was initiated by Sterne Agee CRT with “Buy”. The stock has “Overweight” rating by Pacific Crest on Thursday, January 12. The rating was upgraded by Citigroup on Monday, February 8 to “Buy”.

More recent Globant SA (NYSE:GLOB) news were published by: Streetinsider.com which released: “Form 6-K Globant SA For: Jun 01” on June 01, 2017. Also Twst.com published the news titled: “Globant SA: Globant Reports 2017 First Quarter Financial Results” on May 18, 2017. Reuters.com‘s news article titled: “BRIEF-Globant SA’s Q1 adjusted earnings per share $0.27” with publication date: May 18, 2017 was also an interesting one.

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