Atria Investments LLC Acquires 46,696 Shares of L Brands Inc (LB)
Atria Investments LLC boosted its holdings in L Brands Inc (NYSE:LB) by 216.5% during the fourth quarter, Holdings Channel reports. The fund owned 68,268 shares of the specialty retailer’s stock after acquiring an additional 46,696 shares during the period. Atria Investments LLC’s holdings in L Brands were worth $4,111,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of LB. Steward Partners Investment Advisory LLC bought a new position in L Brands in the third quarter worth about $161,000. IFP Advisors Inc lifted its holdings in L Brands by 52.1% in the third quarter. IFP Advisors Inc now owns 4,725 shares of the specialty retailer’s stock worth $197,000 after acquiring an additional 1,618 shares during the last quarter. Chesapeake Asset Management LLC bought a new position in L Brands in the third quarter worth about $205,000. Allianz Asset Management GmbH bought a new position in L Brands in the third quarter worth about $206,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in L Brands in the third quarter worth about $208,000. 78.82% of the stock is currently owned by hedge funds and other institutional investors.
L Brands Inc (LB) opened at $48.99 on Wednesday. L Brands Inc has a 12 month low of $35.00 and a 12 month high of $63.10. The company has a current ratio of 1.45, a quick ratio of 0.60 and a debt-to-equity ratio of -5.10. The company has a market cap of $13,830.00, a P/E ratio of 14.94, a P/E/G ratio of 1.39 and a beta of 0.81.
LB has been the topic of a number of recent analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $70.00 price target on shares of L Brands in a report on Thursday, December 14th. Oppenheimer reaffirmed a “buy” rating on shares of L Brands in a report on Thursday, October 5th. B. Riley reaffirmed a “buy” rating and set a $58.00 price target on shares of L Brands in a report on Wednesday, November 29th. Citigroup lifted their price target on L Brands from $40.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Finally, Royal Bank of Canada raised L Brands from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $40.00 to $58.00 in a report on Friday, November 17th. Six investment analysts have rated the stock with a sell rating, twenty have given a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $51.86.
In other L Brands news, Director David T. Kollat purchased 9,910 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were purchased at an average price of $50.34 per share, for a total transaction of $498,869.40. Following the completion of the transaction, the director now owns 158,878 shares in the company, valued at approximately $7,997,918.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 16.68% of the company’s stock.
L Brands Company Profile
L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care, beauty and home fragrance categories. Its segments include Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. It sells its merchandise through company-owned specialty retail stores in the United States, Canada, the United Kingdom and Greater China, which are mall-based; through Websites, and through international franchise, license and wholesale partners.
Want to see what other hedge funds are holding LB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for L Brands Inc (NYSE:LB).
Receive News & Ratings for L Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L Brands and related companies with MarketBeat.com's FREE daily email newsletter.