Increasing ShortsThere 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!