Wayside Technology Group, Inc. (NASDAQ:WSTG) Sees Large Drop in Short Interest

Wayside Technology Group, Inc. (NASDAQ:WSTG) was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 2,300 shares, a drop of 50.0% from the January 15th total of 4,600 shares. Based on an average daily volume of 15,600 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.1% of the company's shares are short sold.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Morgan Stanley raised its position in Wayside Technology Group by 112.8% during the 1st quarter. Morgan Stanley now owns 2,854 shares of the company's stock worth $72,000 after purchasing an additional 1,513 shares during the last quarter. CAPROCK Group Inc. bought a new position in shares of Wayside Technology Group in the third quarter valued at $254,000. Oppenheimer Asset Management Inc. acquired a new position in Wayside Technology Group during the 3rd quarter valued at about $376,000. Geode Capital Management LLC boosted its position in shares of Wayside Technology Group by 7.4% during the second quarter. Geode Capital Management LLC now owns 22,319 shares of the company's stock valued at $558,000 after buying an additional 1,537 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Wayside Technology Group by 4.0% in the 2nd quarter. Northern Trust Corp now owns 22,520 shares of the company's stock worth $563,000 after acquiring an additional 868 shares in the last quarter. 45.00% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:WSTG opened at $30.60 on Friday. The stock's 50-day moving average is $32.17 and its 200-day moving average is $29.67. Wayside Technology Group has a 1-year low of $19.98 and a 1-year high of $36.69. The stock has a market cap of $134.21 million, a P/E ratio of 15.53 and a beta of 0.74.

Wayside Technology Group Company Profile

Wayside Technology Group, Inc engages in the distribution of software developed by others through resellers indirectly to customers. It operates through Distribution and Solutions segments. The Distribution segment distributes technical software to corporate resellers, value added resellers (VARs), consultants and systems integrators worldwide under the names Climb Channel Solutions and Sigma Software Distribution.

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