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5 Prem Watsa Holdings Attracting Short Sellers

By Dividend Channel Staff, Thursday, January 12, 1:14 PM ET
Play Video: What Short Interest Means


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An examination of the most recent short interest data revealed these five Prem Watsa stocks with particularly high short interest, as measured by "days to cover." This metric is just one way to look at short data, but this is a metric we here at Holdings Channel find particularly useful because it considers both the total shares short and the average daily volume of shares traded. The number of shares short is then compared to the average daily volume, in order to calculate the total number of trading days (at the average volume) it would take to close out all of the open short positions if every share traded represented a short position being closed. So for example we found that Overstock.com Inc (NASDAQ:OSTK) now has 18.44 days to cover.

Looking through the stocks held by Prem Watsa for the most recent reporting period, we found the following five stand-outs with the highest levels of short interest as measured by the number of days to cover. The first column is the Prem Watsa holding, the second column is the number of days to cover, the third column is the number of shares held at Fairfax Financial Holdings at last report, and the final column is the total number of shares short (in this way we can compare "Prem Watsa vs. The Shorts" as far as the relative positions).

Prem Watsa HoldingDays To CoverFairfax Financial Holdings SharesShort Interest
OSTK 18.44 3,184,677 1,025,969
RYAM 17.77 70,000 7,237,528
HP 13.56 349,974 17,912,217
KW 9.02 8,954,948 3,358,933
XCO 8.92 25,538,912 17,742,282

As you can see, Overstock.com Inc (NASDAQ:OSTK) is an interesting situation, as are Rayonier Advanced Materials Inc (NYSE:RYAM), Helmerich & Payne, Inc. (NYSE:HP), Kennedy-Wilson Holdings Inc (NYSE:KW), and Exco Resources Inc. (XCO) why are short sellers attracted to these names, while Prem Watsa has the opposite view (i.e. Fairfax Financial Holdings is long those stocks)? It could simply be a matter of differing viewpoint on valuation of each given stock, or there could be fundamental disagreements over what is happening at the business level and whether recent developments are positive or negative for that company's future success. Following quarterly 13F filings to keep track of Prem Watsa stock picks is warranted for investors interested in keeping track of what Prem Watsa does with these positions (adds, reduces, or exits).


This Article's Word Cloud:   Fairfax   Financial   Holdings   NYSE   OSTK   Overstock   Prem   RYAM   Watsa   average   both   business   column   compare   could   cover   daily   data   days   each   filings   five   font   found   hctblstyle   held   interest   keep   measured   metric   most   number   particularly   positions   recent   relative   shares   short   stock   stocks   that   these   this   total   track   traded   view   volume   what   with

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