MTY Food Group Inc T.MTY

Increasing Shorts

[EventHorizon]

There are twice as many MTY shares being shorted now as during the March collapse. There has been a steadily increasing trend in the shorts since April.

Symbol     Shares     Net Change     Date
$MTY.TO     1,240,799     187,871     20 Jul 2020
$MTY.TO     1,052,928     178,024     6 Jul 2020
$MTY.TO     874,904     -28,758     18 Jun 2020
$MTY.TO     903,662     -33,691     4 Jun 2020
$MTY.TO     937,353     189,387     21 May 2020
$MTY.TO     747,966     60,604     5 May 2020
$MTY.TO     687,362     132,700     20 Apr 2020
$MTY.TO     687,362     132,700     20 Apr 2020
$MTY.TO     554,662     -77,673     5 Apr 2020
$MTY.TO     632,335     31,897     19 Mar 2020
$MTY.TO     600,438     70,395     5 Mar 2020
$MTY.TO     530,043     87,462     23 Feb 2020
$MTY.TO     442,581     55,845     5 Feb 2020
$MTY.TO     386,736     -9,898     20 Jan 2020
$MTY.TO     396,634     -27,886     6 Jan 2020

source: https://ceo.ca/MTY

Also, there have been no reported insider buying or actually realised company share buybacks.

The overall short % is not much (just over 5%). Nonetheless, considering over 1/2 of stock is closely held by insiders and big institutional holders and that it is fairly thinly traded smaller/mid cap company that has dropped by over 60% since its peak price of over 70, it suggest that overall there is an increasingly negative "smart money" concensus about the company's outlook even after the most recent earnings call.

The EPS estimates have been also revised down to -0.24 for 2020 and +2.17 for 2021, implying a stabilized 2021 PE ratio of about 13 at current prices (https://web.tmxmoney.com/earnings.php?qm_symbol=MTY). I don't have access to any of the actual analyst reports. If you do, please, share with the community.

Have a nice day everyone!

[naissance]

A lot of shorts on this , a lot of bad news now and ahead....This is the first place customers will cut.