Ross Stores (ROST) : The traders have covered their outstanding shorts in Ross Stores (ROST) to the tune of -1,965,449 shares, a change of -17.8%. As on Jul 29, 2016, the outstanding shorts on the stock were 11,035,549 shares, however, by August 15, 2016, the shorts had reduced to 9,070,100 shares. The covering shows that the traders dont believe that a large downside exists in the stock from current levels. The open short positions equal 2.3% of the free float of the stock. It takes 4 days to cover the outstanding short positions. The stock has an average daily volume of 2,528,369 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Ross Stores (NASDAQ:ROST): The stock opened at $64.17 on Wednesday but the bulls could not build on the opening and the stock topped out at $64.31 for the day. The stock traded down to $63.66 during the day, due to lack of any buying support eventually closed down at $63.87 with a loss of -0.67% for the day. The stock had closed at $64.30 on the previous day. The total traded volume was 2,418,966 shares.
In a related news, The Securities and Exchange Commission has divulged that Orban George, director of Ross Stores Inc, had unloaded 56,000 shares at an average price of $57.48 in a transaction dated on July 8, 2016. The total value of the transaction was worth $3,218,880.
Ross Stores, Inc. is an off-price retailer of name brand and designer apparel, accessories, footwear, and home fashions for the entire family. The Company operates two brands of off-price retail apparel and home fashion stores, Ross Dress for Less (Ross) and dds DISCOUNTS. As of December 31, 2014, the Company operated 1,210 Ross locations in 33 states, the District of Columbia and Guam, and 152 dds DISCOUNTS stores in 15 states. The Ross and dds DISCOUNTS stores are supported by five distribution centers. The Ross brand stores offers its products at savings of 20% to 60% off department and specialty store regular prices every day. Ross target customers are primarily from middle income households. The dds DISCOUNTS stores offers its products at savings of 20% to 70% off moderate department and discount store regular prices every day. Its target customers typically come from households with moderate incomes.