Short Interest in MIND C.T.I. Ltd (NASDAQ:MNDO) Increases By 1,672.7%

MIND C.T.I. Ltd (NASDAQ:MNDO) saw a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 19,500 shares, a growth of 1,672.7% from the February 28th total of 1,100 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 62,500 shares, the short-interest ratio is presently 0.3 days.

Hedge Funds Weigh In On MIND C.T.I.

An institutional investor recently raised its position in MIND C.T.I. stock. Northern Trust Corp lifted its stake in shares of MIND C.T.I. Ltd (NASDAQ:MNDO) by 91.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,009 shares of the information technology services provider’s stock after acquiring an additional 36,781 shares during the period. Northern Trust Corp owned 0.38% of MIND C.T.I. worth $152,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 24.32% of the company’s stock.

MIND C.T.I. Trading Up 2.2 %

Shares of MNDO stock traded up $0.04 during mid-day trading on Thursday, reaching $1.83. The stock had a trading volume of 12,819 shares, compared to its average volume of 36,526. MIND C.T.I. has a 12-month low of $1.70 and a 12-month high of $2.13. The business has a 50-day simple moving average of $2.03 and a 200 day simple moving average of $2.00. The company has a market cap of $37.27 million, a P/E ratio of 8.32 and a beta of 0.76.

MIND C.T.I. (NASDAQ:MNDO) last announced its earnings results on Tuesday, March 4th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter. The company had revenue of $5.20 million during the quarter. MIND C.T.I. had a net margin of 22.08% and a return on equity of 21.27%.

MIND C.T.I. Cuts Dividend

The business also recently announced an annual dividend, which will be paid on Thursday, April 10th. Investors of record on Tuesday, March 25th will be paid a $0.22 dividend. This represents a yield of 10.9%. The ex-dividend date is Tuesday, March 25th. MIND C.T.I.’s payout ratio is currently 100.00%.

About MIND C.T.I.

MIND C.T.I. Ltd., together with its subsidiaries, develops, markets, sells, and implements billing and customer care software solutions for communication service providers in the Americas, Europe, Israel, the Asia Pacific, and Africa. It operates in two segments, Billing and Related Services, and Messaging.