Manatuck Hill Partners LLC Invests $659,000 in Layne Christensen Company (LAYN)
Manatuck Hill Partners LLC acquired a new stake in Layne Christensen Company (NASDAQ:LAYN) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 75,000 shares of the construction company’s stock, valued at approximately $659,000. Manatuck Hill Partners LLC owned about 0.38% of Layne Christensen as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Alliancebernstein L.P. acquired a new stake in Layne Christensen in the 2nd quarter worth approximately $119,000. Nationwide Fund Advisors grew its position in Layne Christensen by 3.0% during the 2nd quarter. Nationwide Fund Advisors now owns 14,565 shares of the construction company’s stock worth $128,000 after purchasing an additional 428 shares during the last quarter. Virtu KCG Holdings LLC purchased a new stake in Layne Christensen during the 2nd quarter worth approximately $130,000. Wells Fargo & Company MN grew its position in Layne Christensen by 5.3% during the 1st quarter. Wells Fargo & Company MN now owns 17,000 shares of the construction company’s stock worth $151,000 after purchasing an additional 855 shares during the last quarter. Finally, Rhumbline Advisers grew its position in Layne Christensen by 8.8% during the 2nd quarter. Rhumbline Advisers now owns 21,629 shares of the construction company’s stock worth $190,000 after purchasing an additional 1,755 shares during the last quarter. 89.27% of the stock is owned by hedge funds and other institutional investors.
Shares of Layne Christensen Company (LAYN) traded up 1.09% during mid-day trading on Tuesday, reaching $13.02. The company’s stock had a trading volume of 29,073 shares. The company’s 50-day moving average is $11.16 and its 200-day moving average is $9.31. Layne Christensen Company has a 52 week low of $6.98 and a 52 week high of $13.11. The stock’s market capitalization is $258.85 million.
Layne Christensen (NASDAQ:LAYN) last released its quarterly earnings data on Monday, September 11th. The construction company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.07. The company had revenue of $126.20 million for the quarter, compared to analysts’ expectations of $122.99 million. Layne Christensen had a negative net margin of 12.66% and a negative return on equity of 35.55%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.21) earnings per share. Equities analysts predict that Layne Christensen Company will post ($0.40) EPS for the current year.
LAYN has been the topic of a number of recent analyst reports. ValuEngine upgraded shares of Layne Christensen from a “sell” rating to a “hold” rating in a research note on Wednesday, September 13th. Jefferies Group LLC set a $9.00 price objective on shares of Layne Christensen and gave the stock a “hold” rating in a research note on Saturday, June 10th. Finally, Zacks Investment Research downgraded shares of Layne Christensen from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th.
COPYRIGHT VIOLATION WARNING: This story was first published by Watch List News and is the property of of Watch List News. If you are accessing this story on another website, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The correct version of this story can be accessed at https://www.watchlistnews.com/manatuck-hill-partners-llc-invests-659000-in-layne-christensen-company-layn/1605543.html.
Layne Christensen Profile
Layne Christensen Company (Layne) is a water management, construction and drilling company. The Company provides drilling solutions for water management, mineral services and specialty drilling needs. The Company operates through three segments: Water Resources, Inliner and Mineral Services. Its Water Resources segment provides its customers with solutions for various aspects of water supply system development and technology throughout the United States.
Receive News & Ratings for Layne Christensen Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Layne Christensen Company and related companies with Analyst Ratings Network's FREE daily email newsletter.