Hi Angsana, no insights on this but I know Gartner similarly have a 10% short interest while Morningstar is 7.6% of free float. I suspect it’s a broad-based short info services, long semis trade going on.
Data from Cap IQ, when FactSet shares bottomed during the financial crisis (November 2008), 15.8% of its shares were sold short and by March 2009, 31% of its shares were sold short. 16 years later, FactSet earns 4x as much revenue, net profits and FCF, so not sure to read too much into that.
Thanks to Dede Eyesan for highlighting FactSet Research Systems Inc. (FDS; FDS US).
FDS' short interest has increased to 10%. Seems like there are hedge funds that are betting against a take-over.
I wonder whether you have any insights into this?
Hi Angsana, no insights on this but I know Gartner similarly have a 10% short interest while Morningstar is 7.6% of free float. I suspect it’s a broad-based short info services, long semis trade going on.
Data from Cap IQ, when FactSet shares bottomed during the financial crisis (November 2008), 15.8% of its shares were sold short and by March 2009, 31% of its shares were sold short. 16 years later, FactSet earns 4x as much revenue, net profits and FCF, so not sure to read too much into that.
If the rumours turn out to be factual, it follows that Jenga is among investors with a keen eye for realiseable/ locked-in value of FactSet.
Hopefully, the shareholders should be able to hold out for much more than a 25% premium. We can be hopeful !