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R.R. Donnelley & Sons (RRD)

short interest rrdStock gain in past year: 58%
Change in shares shorted: -52%
Change in shares days to cover: -56%

R.R. Donnelley & Sons (RRD) might be best known for its hand in the Google (GOOG) earnings gaffe of last October, but the shorts smelled blood before that.

Short interest as a percentage of float peaked last July at 42%, but has been falling ever since. Still, even by October, it would have taken 30 days for shorts to cover their positions thanks to a whopping 49 million shares sold short.

Currently, 23 million shares sold short translates into short interest of 19% and 13 days to cover 13. Both numbers are nothing to sneeze at … but still represent dramatic declines from year-ago comparisons.

To some extent, the fall in short interest is hardly surprising when you consider the sizzling gains of nearly 90% RRD stock has in the books year-to-date — a climb at least partly thanks to shorts realizing their mistake and rushing to cover.

But helping to spark R.R. Donnelley along the way was a series of earnings beats dating back to “PENDING LARRY QUOTE” and even further.

Article printed from InvestorPlace Media,

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