Shares of the company are trading at $31.77 a bit higher than the 50 day moving average which is $29.49 and which is well above the 200 day moving average of $26.06. The 50 day moving average was up $2.28 or +7.73% and the 200 day average moved up $5.71. OneMain Holdings, Inc. shares had a trading volume of 457K by the end of trading on Tuesday. Trading volume was down 22.89% under the stocks average daily volume.
Investors are more bullish on shares of the company of late if you put credence in the decrease in short interest. The company had a fall in short interest of -5.23% as of the latest report on October 13, 2017. Short shares decreased 155,237 over that period. The days to cover decreased to 4.0 and the percentage of shorted shares was 0.02% on October 13.
These funds have shifted positions in (OMF). As of the end of the quarter Nationwide Fund Advisors had disposed of 40,312 shares trimming its holdings by 61.2%. The value of the investment in (OMF) went from $1,619,000 to $720,000 a change of 55.5% quarter to quarter. As of quarter end First Trust Advisors Lp had bought a total of 155,182 shares growing its position 32.9%. The value of the investment in OMF increased from $11,603,000 to $17,676,000 a change of $6,073,000 for the reporting period.
Aperio Group, LLC cut its ownership by shedding 132 shares a decrease of 1.5% in the quarter. Aperio Group, LLC now holds 8,570 shares with a value of $242,000. The value of the position overall is up by 13.1%. As of the end of the quarter Raymond James Financial Services Advisors, Inc. had disposed of a total of 2,300 shares trimming its stake by 6.2%. The value of the company’s investment in OneMain Holdings, Inc. went from $917,000 to $987,000 increasing 7.6% quarter over quarter.
Equity analyst DA Davidson starting coverage on OMF setting a rating of “Buy”. On August 4 Barclays left the company rating at “Equal-Weight” and raised the price target to $30.00 from $19.00.
On August 23 the company was upgraded from “Equal-Weight” to “Overweight” in a report issued by Stephens & Co..
The most current P/E ratio is 34.12 and the market cap is 4.30B. In the last earnings report the EPS was $0.93 and is expected to be $3.75 for the current year with 135,301,000 shares outstanding. Next quarter’s EPS is expected be $1.15 and the next full year EPS is projected to be $4.29.
OneMain Holdings, Inc., launched on August 5, 2013, is a financial services holding company. The Company is a consumer finance company, which is involved in providing personal loan products; credit and non-credit insurance, and service loans owned by it and service or subservice loans owned by third-parties. The Business’s segments include Consumer and Insurance; Acquisitions and Servicing; Real Estate, and Other. It is involved in pursuing strategic acquisitions and dispositions of assets and businesses, including loan portfolios or other financial assets. The Business’s subsidiaries include Springleaf Finance, Inc. (SFI) and Independence Holdings, LLC (Independence). SFI’s principal subsidiary is Springleaf Finance Corporation (SFC), and Independence’s principal subsidiary is OneMain Financial Holdings, LLC (OMFH). SFC and OMFH are financial services holding companies with subsidiaries engaged in the consumer finance and insurance businesses..