CIT Group Inc
Score: Negative (6)
33 days at current score.
Downgraded from Neutral on August 13th 2018
- This company ranked negatively compared to the Financials sector despite 2 positive IHS Markit Categories
- Perception of the company's creditworthiness is neutral but improving
- Bearish sentiment is low and declining
- Economic output in this company's sector is expanding
Short interest | Positive
Short interest is low for CIT with fewer than 5% of shares on loan. Additionally, this was an improvement in sentiment as investors who seek to profit from falling equity prices reduced their short positions on August 13.
ETF/Index ownership | Neutral
ETF activity is neutral. The net inflows of $2.35 billion over the last one-month into ETFs that hold CIT are not among the highest of the last year and have been slowing.
PMI by IHS Markit | Positive
According to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Financials sector is rising. The rate of growth is strong relative to the trend shown over the past year.
Credit default swap | Neutral
The current level displays a neutral indicator with a strengthening bias over the past 1-month. Although CIT credit default swap spreads are decreasing, they are near their highest levels for the past 1 year, which indicates the market's more negative perception of the company's credit worthiness.
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