Short Interest in Clearwater Paper Co. (NYSE:CLW) Increases By 16.0%

Clearwater Paper Co. (NYSE:CLW) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 988,200 shares, an increase of 16.0% from the November 30th total of 851,800 shares. Based on an average daily volume of 455,400 shares, the days-to-cover ratio is currently 2.2 days. Approximately 6.2% of the company’s stock are sold short.

Clearwater Paper Stock Down 5.0 %

Shares of CLW stock opened at $30.37 on Monday. The company has a market capitalization of $503.17 million, a price-to-earnings ratio of 35.31 and a beta of 0.33. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.13 and a current ratio of 1.78. The stock’s 50 day simple moving average is $27.10 and its 200 day simple moving average is $34.62. Clearwater Paper has a twelve month low of $23.97 and a twelve month high of $57.13.

Clearwater Paper declared that its board has approved a share buyback plan on Monday, November 4th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the basic materials company to reacquire up to 23.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. StockNews.com downgraded shares of Clearwater Paper from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Royal Bank of Canada restated an “outperform” rating and set a $37.00 target price on shares of Clearwater Paper in a report on Tuesday, November 5th.

Institutional Trading of Clearwater Paper

Institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC lifted its position in shares of Clearwater Paper by 339.6% during the 3rd quarter. Barclays PLC now owns 27,139 shares of the basic materials company’s stock worth $774,000 after purchasing an additional 20,966 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Clearwater Paper in the 3rd quarter worth approximately $877,000. Readystate Asset Management LP acquired a new position in Clearwater Paper during the 3rd quarter valued at $1,978,000. HighTower Advisors LLC raised its position in shares of Clearwater Paper by 124.0% during the third quarter. HighTower Advisors LLC now owns 12,400 shares of the basic materials company’s stock valued at $361,000 after buying an additional 6,865 shares during the last quarter. Finally, Cinctive Capital Management LP acquired a new position in Clearwater Paper in the 3rd quarter valued at approximately $815,000. 89.98% of the stock is currently owned by institutional investors and hedge funds.

About Clearwater Paper

Clearwater Paper Corporation manufactures and supplies bleached paperboards, and consumer and parent roll tissues in the United States and internationally. It operates through Pulp and Paperboard, and Consumer Products segments. The Pulp and Paperboard segment manufactures and markets bleached paperboard; Solid Bleached Sulfate paperboard that is used to produce folding cartons, liquid packaging, cups and plates, blister and carded packaging, and top sheet and commercial printing items; and hardwood and softwood pulp, as well as offers services that include custom sheeting, slitting, and cutting.