Mercury General Corporation (MCY) : Traders are negative on Mercury General Corporation (MCY), as it has 6.9% of short positions outstanding compared to its float. The total shorts have reduced by -198,539 shares, which is a -9.5% reduction. From Jul 29, 2016, to August 15, 2016, the shorts came down from,2,084,144 to 1,885,605 shares. While the daily trading volume of the stock is 179,585, there are 10 days remaining to cover the open short positions. The short interest indicates that the traders dont see a large downside in the stock from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
Mercury General Corporation (NYSE:MCY): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $52.74 and $52.40 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $52.74. The buying momentum continued till the end and the stock did not give up its gains. It closed at $52.70, notching a gain of 0.09% for the day. The total traded volume was 75,208 . The stock had closed at $52.65 on the previous day.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director officer (CEO/President) of Mercury General Corp, Tirador Gabriel had sold 7,500 shares worth of $405,000 in a transaction dated March 7, 2016. In this transaction, 7,500 shares were sold at $54 per share.
Mercury General Corporation is an insurance holding company. Through its subsidiaries, the Company operates as a personal automobile insurer, selling policies through a network of independent agents, 100% owned insurance agents, and direct channels in around 13 states. It also offers homeowners, commercial automobile, commercial property, mechanical breakdown, fire and umbrella insurance. It provides various types of automobile coverage, such as collision, property damage, bodily injury, comprehensive, personal injury protection, underinsured and uninsured motorist, and other hazards. It offers a range of homeowners coverage, including dwelling, liability, personal property, fire and other hazards. It has operations in Arizona, California, Georgia, Illinois, Michigan, Nevada and New Jersey, among others. Its subsidiaries include Mercury Casualty Company, Mercury Insurance Company, California Automobile Insurance Company and Mercury Insurance Company of Georgia, among others.