Short Interest in Libbey Inc. (LBY) Grows By 52.1%
Libbey Inc. (NYSEAMERICAN:LBY) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 787,199 shares, a growth of 52.1% from the October 31st total of 517,441 shares. Approximately 3.7% of the shares of the company are sold short. Based on an average daily volume of 263,607 shares, the days-to-cover ratio is currently 3.0 days.
Shares of Libbey (NYSEAMERICAN LBY) opened at $7.10 on Thursday. Libbey has a 12 month low of $6.12 and a 12 month high of $20.76.
Libbey (NYSEAMERICAN:LBY) last issued its quarterly earnings data on Tuesday, October 31st. The company reported ($3.57) earnings per share for the quarter, missing the consensus estimate of $0.31 by ($3.88). Libbey had a negative return on equity of 290.54% and a negative net margin of 41.83%. The business had revenue of $187.30 million during the quarter, compared to analyst estimates of $193.74 million. During the same quarter last year, the firm earned $0.13 EPS. Libbey’s revenue for the quarter was down 4.9% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Tuesday, November 7th were issued a $0.117 dividend. This is a positive change from Libbey’s previous quarterly dividend of $0.12. This represents a $0.47 annualized dividend and a yield of 6.59%. The ex-dividend date of this dividend was Monday, November 6th. Libbey’s dividend payout ratio (DPR) is currently -11.72%.
Several analysts have weighed in on LBY shares. Zacks Investment Research cut shares of Libbey from a “hold” rating to a “strong sell” rating in a research note on Friday, November 3rd. TheStreet cut shares of Libbey from a “c-” rating to a “d” rating in a research note on Tuesday, October 31st.
Hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP increased its holdings in Libbey by 153.4% in the 3rd quarter. GSA Capital Partners LLP now owns 119,100 shares of the company’s stock valued at $1,103,000 after buying an additional 72,096 shares during the period. California Public Employees Retirement System increased its holdings in Libbey by 24.7% in the 3rd quarter. California Public Employees Retirement System now owns 124,726 shares of the company’s stock valued at $1,155,000 after buying an additional 24,726 shares during the period. Royce & Associates LP bought a new position in Libbey in the 3rd quarter valued at about $2,222,000. Finally, Spitfire Capital LLC increased its holdings in Libbey by 6.0% in the 3rd quarter. Spitfire Capital LLC now owns 961,437 shares of the company’s stock valued at $8,903,000 after buying an additional 54,281 shares during the period.
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Libbey Company Profile
Libbey Inc is engaged in the design, production and sale of tableware and other products. The Company’s segments are U.S. & Canada; Latin America; Europe, the Middle East and Africa (EMEA) and Other. The U.S. & Canada segment includes sales of manufactured and sourced tableware having an end market destination in the United States and Canada, excluding glass products for original equipment manufacturers (OEMs), which remain in the Latin America segment.
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