CIT Group Inc
Score: Negative (22)
2 days at current score.
Downgraded from Neutral on August 28th 2017
- This company ranked negatively compared to the Financials sector despite 2 positive IHS Markit Categories
- Perception of the company's creditworthiness is positive
- ETFs holding this stock are seeing positive inflows but are weakening
- Bearish sentiment is moderate and increasing
- Economic output in this company's sector is expanding
Short interest | Neutral
Short interest is moderate for CIT with between 5 and 10% of shares outstanding currently on loan. This represents an increase in short interest as investors who seek to profit from falling equity prices added to their short positions on August 25.
ETF/Index ownership | Negative
ETF activity is negative and may be weakening. The net inflows of $192 million over the last one-month into ETFs that hold CIT are among the lowest of the last year and appear to be 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 | Positive
The current level displays a positive indicator. CIT credit default swap spreads are near the lowest level of the last three years and indicate the market's continued positive perception of the company's credit worthiness.
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