LendingTreeInc. saw the greatest increase in short interest relative to sharesoutstanding among SNL-covered financial services companies between Aug. 31 andSept. 15.
The company posted short interest growth of 444 basis pointsto 25.43% of shares outstanding at Sept. 15. Shares of LendingTreeclosed at $97.00 on Aug. 31 and fell to $96.28 at the close of trading Sept. 15.
FirstCash Inc.,the combined company formed when First Cash Financial Services Inc. its merger with CashAmerica International Inc. on Sept. 2, saw the steepest decline in short interest.The percentage of the company's shares held short relative to sharesoutstanding decreased 309 basis points to 2.08% at Sept. 15. Shares ofFirstCash closed at $51.72 on Aug. 31 and fell to $46.83 at the close oftrading Sept. 15.
GATX Corp.was the most-shorted financial services stock during the period. The percentageof the company's shares held short increased 136 basis points to 30.51%. GATXfiled a preliminary prospectus supplement for an of an unspecified amount ofsenior notes during the period. The company's shares closed at $43.85 on Aug.31 and dropped to $41.73 at the close of trading Sept. 15.