Looking at recent short interest moves in the restaurant space, it is interesting to note the increase in casual dining short interest versus quick service. Both have seen increases in this metric, but casual dining continues to be the primary target.
- BWLD and EAT saw significant gains in their short interest levels over the past two weeks.
- PFCB short interest had been ticking down but the last two readings have shown that investors are continuing to short the stock, even with the short interest at elevated levels.
- CMG saw an uptick in short interest as inflation concerns impact sentiment around the name.
- GMCR saw a downtick in short interest over the past two weeks in reported data terms (settlement date 2/15) but I would submit that the recent decline in the share price (-5.65% since 2/15) suggests that sentiment around the name may be changing.
- PEET short interest was driven higher as the continuing gains in coffee costs got the attention of the investor community.
Howard Penney
Managing Director
