Limbach Holdings Inc (NASDAQ:LMB) Short Interest Update
Limbach Holdings Inc (NASDAQ:LMB) was the recipient of a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 47,000 shares, an increase of 25.3% from the April 30th total of 37,500 shares. Based on an average daily volume of 97,000 shares, the days-to-cover ratio is currently 0.5 days. Approximately 1.0% of the company’s shares are short sold.
In related news, Director 1347 Investors Llc sold 25,000 shares of Limbach stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $11.11, for a total value of $277,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders sold 1,104,547 shares of company stock valued at $11,244,790. Corporate insiders own 47.90% of the company’s stock.
Several institutional investors have recently bought and sold shares of LMB. Dimensional Fund Advisors LP grew its position in Limbach by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 522,440 shares of the construction company’s stock valued at $1,923,000 after buying an additional 12,089 shares in the last quarter. Alambic Investment Management L.P. bought a new position in Limbach in the 4th quarter valued at about $190,000. BlackRock Inc. grew its position in Limbach by 70.0% in the 4th quarter. BlackRock Inc. now owns 22,989 shares of the construction company’s stock valued at $85,000 after buying an additional 9,470 shares in the last quarter. Finally, AltraVue Capital LLC bought a new position in Limbach in the 4th quarter valued at about $1,771,000. Institutional investors own 29.58% of the company’s stock.
Limbach (NASDAQ:LMB) last posted its earnings results on Monday, April 15th. The construction company reported $0.44 earnings per share (EPS) for the quarter. The company had revenue of $151.38 million during the quarter. Limbach had a return on equity of 5.95% and a net margin of 0.49%. Research analysts anticipate that Limbach will post 1.07 EPS for the current fiscal year.
A number of analysts recently commented on the company. TheStreet upgraded Limbach from a “d+” rating to a “c” rating in a research report on Wednesday, May 29th. Roth Capital upgraded Limbach from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $7.00 to $10.00 in a research report on Wednesday, April 17th. Finally, Zacks Investment Research upgraded Limbach from a “hold” rating to a “buy” rating and set a $8.25 target price for the company in a research report on Wednesday, April 17th.
Limbach Company Profile
Limbach Holdings, Inc provides commercial specialty contract services in the United States. It operates in two segments, Construction and Service. The company provides services in the areas of heating, ventilation, air-conditioning (HVAC), plumbing, electrical, and building controls for the design and construction of new and renovated buildings; maintenance services; and equipment upgrades.
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