Henderson Group: Profit Warning Surprises Short Investors
Henderson Group (HNDGF.PK) issued a surprise profit warning yesterday, as shares closed 16.75p lower.
The group. who manage investment products for institutional and retail investors said:
Global market conditions have deteriorated significantly and we have seen high levels of volatility as well as increased client activity.
The announcement seems to have caught the market by surprise, with Analysts at Evolution saying in a note that they were "astonished by the severity of the market reaction to Henderson's statement."
As analysts were surprised, so were short investors, or so the data from our products would suggest. The percentage of Henderson's Market Cap out on loan (%MCOL) has reduced significantly since April this year - down from 10% then to 2% on Thursday. Utilisation has dropped from 80% to 33% during the same time frame. This chart documents Henderson's Market Cap out on loan to short investors over the past six months.
click to enlarge
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