Lumber Liquidators Holdings Inc (NYSE:LL) Sees Large Increase in Short Interest
Lumber Liquidators Holdings Inc (NYSE:LL) was the target of a large growth in short interest in July. As of July 31st, there was short interest totalling 9,652,200 shares, a growth of 18.4% from the June 30th total of 8,148,800 shares. Currently, 34.4% of the shares of the stock are short sold. Based on an average trading volume of 1,310,000 shares, the short-interest ratio is currently 7.4 days.
Several research firms recently weighed in on LL. Evercore ISI restated a “hold” rating on shares of Lumber Liquidators in a report on Wednesday, August 7th. Zacks Investment Research lowered Lumber Liquidators from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th. Raymond James upgraded Lumber Liquidators from a “market perform” rating to an “outperform” rating and set a $16.00 price target on the stock in a report on Wednesday, May 1st. Finally, ValuEngine lowered Lumber Liquidators from a “sell” rating to a “strong sell” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $12.00.
Lumber Liquidators stock traded down $0.28 during mid-day trading on Thursday, hitting $7.85. The company’s stock had a trading volume of 2,182,782 shares, compared to its average volume of 1,275,948. The company has a 50 day simple moving average of $10.21. The company has a market capitalization of $232.47 million, a PE ratio of 13.77, a PEG ratio of 0.66 and a beta of 2.00. The company has a current ratio of 1.47, a quick ratio of 0.22 and a debt-to-equity ratio of 1.27. Lumber Liquidators has a one year low of $6.59 and a one year high of $18.36.
In related news, CEO Dennis R. Knowles purchased 14,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average price of $8.04 per share, for a total transaction of $112,560.00. Following the acquisition, the chief executive officer now owns 102,241 shares of the company’s stock, valued at approximately $822,017.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Charles E. Tyson purchased 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were bought at an average price of $9.90 per share, for a total transaction of $39,600.00. Following the acquisition, the insider now directly owns 15,644 shares in the company, valued at approximately $154,875.60. The disclosure for this purchase can be found here. 2.10% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the business. Comerica Bank grew its position in Lumber Liquidators by 2.9% in the 1st quarter. Comerica Bank now owns 28,523 shares of the specialty retailer’s stock valued at $307,000 after acquiring an additional 803 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in shares of Lumber Liquidators by 5.1% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 20,860 shares of the specialty retailer’s stock worth $241,000 after buying an additional 1,010 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Lumber Liquidators by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 232,355 shares of the specialty retailer’s stock worth $2,212,000 after buying an additional 1,517 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Lumber Liquidators during the 2nd quarter worth $29,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Lumber Liquidators by 2.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 164,102 shares of the specialty retailer’s stock worth $1,896,000 after buying an additional 4,320 shares in the last quarter. 79.76% of the stock is currently owned by institutional investors.
Lumber Liquidators Company Profile
Lumber Liquidators Holdings, Inc, together with its subsidiaries, operates as a multi-channel specialty retailer of hard-surface flooring, and hard-surface flooring enhancements and accessories. The company offers hardwood species, engineered hardwood, laminates, resilient vinyl flooring, waterproof vinyl plank, and porcelain tile; renewable flooring, and bamboo and cork products; and a selection of flooring enhancements and accessories, including moldings, noise-reducing underlay, adhesives, and flooring tools under the Bellawood brand.
Further Reading: Equity Income
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