Santander Consumer USA Holdings (SC) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 10,888,718 to 10,113,693 shares, with 7 days to go before the expiry. The short open interest has decreased by -7.1%, amounting to a reduction of -775,025 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 9.1% of the float of the company. The average daily volume of the stock is 1,555,199 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Santander Consumer USA Holdings (NYSE:SC): The stock opened at $11.79 on Wednesday but the bulls could not build on the opening and the stock topped out at $12.39 for the day. The stock traded down to $11.71 during the day, due to lack of any buying support eventually closed down at $11.75 with a loss of -0.59% for the day. The stock had closed at $11.82 on the previous day. The total traded volume was 1,217,231 shares.
In a related news, The Securities and Exchange Commission has divulged that Popp Jennifer, officer (Deputy Chief Financial Officer) of Santander Consumer Usa Holdings Inc., had unloaded 13,434 shares at an average price of $12.02 in a transaction dated on July 18, 2016. The total value of the transaction was worth $161,477.
Santander Consumer USA Holdings Inc. is a holding company. The Company is a specialized consumer finance company focused on vehicle finance and unsecured consumer lending products. The Company offers various auto financing products and services to Chrysler customers and dealers under the Chrysler Capital brand. These products and services include consumer retail installment contracts and leases, as well as dealer loans for inventory, construction, real estate, working capital and revolving lines of credit. The Company also originates vehicle loans through a Web-based direct lending program, purchases vehicle retail installment contracts and services automobile and recreational and marine vehicle portfolios for other lenders. Its products and services include vehicle finance, and origination and servicing.