Legacy Reserves LP Unit (LGCY) Major Shareholder Baines Creek Capital, Llc Acquires 50,000 Shares

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Legacy Reserves LP Unit (NASDAQ:LGCY) major shareholder Baines Creek Capital, Llc purchased 50,000 shares of Legacy Reserves LP Unit stock in a transaction dated Friday, October 12th. The shares were purchased at an average price of $5.02 per share, with a total value of $251,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Baines Creek Capital, Llc also recently made the following trade(s):

  • On Friday, October 5th, Baines Creek Capital, Llc purchased 50,000 shares of Legacy Reserves LP Unit stock. The shares were purchased at an average price of $5.04 per share, with a total value of $252,000.00.
  • On Tuesday, September 18th, Baines Creek Capital, Llc purchased 51,991 shares of Legacy Reserves LP Unit stock. The shares were purchased at an average price of $4.94 per share, with a total value of $256,835.54.
  • On Wednesday, September 12th, Baines Creek Capital, Llc purchased 71,632 shares of Legacy Reserves LP Unit stock. The shares were purchased at an average price of $5.38 per share, with a total value of $385,380.16.
  • On Monday, September 10th, Baines Creek Capital, Llc purchased 10,650 shares of Legacy Reserves LP Unit stock. The shares were purchased at an average price of $5.42 per share, with a total value of $57,723.00.
  • On Tuesday, September 4th, Baines Creek Capital, Llc purchased 37,820 shares of Legacy Reserves LP Unit stock. The shares were purchased at an average price of $5.42 per share, with a total value of $204,984.40.
  • On Thursday, September 6th, Baines Creek Capital, Llc purchased 84,988 shares of Legacy Reserves LP Unit stock. The shares were purchased at an average price of $5.22 per share, with a total value of $443,637.36.
  • On Thursday, August 30th, Baines Creek Capital, Llc purchased 27,500 shares of Legacy Reserves LP Unit stock. The shares were purchased at an average price of $5.39 per share, with a total value of $148,225.00.
  • On Tuesday, August 28th, Baines Creek Capital, Llc purchased 60,676 shares of Legacy Reserves LP Unit stock. The shares were purchased at an average price of $5.29 per share, with a total value of $320,976.04.
  • On Thursday, August 23rd, Baines Creek Capital, Llc purchased 108,659 shares of Legacy Reserves LP Unit stock. The shares were purchased at an average price of $5.19 per share, with a total value of $563,940.21.
  • On Monday, August 20th, Baines Creek Capital, Llc purchased 59,995 shares of Legacy Reserves LP Unit stock. The shares were purchased at an average price of $4.82 per share, with a total value of $289,175.90.

NASDAQ:LGCY traded up $0.05 during midday trading on Friday, hitting $5.01. The company had a trading volume of 287,860 shares, compared to its average volume of 620,980. Legacy Reserves LP Unit has a 52-week low of $1.07 and a 52-week high of $10.54. The firm has a market capitalization of $373.11 million, a PE ratio of -10.02 and a beta of 1.82. The company has a debt-to-equity ratio of -1.63, a quick ratio of 0.17 and a current ratio of 0.17.

Legacy Reserves LP Unit (NASDAQ:LGCY) last announced its earnings results on Wednesday, August 1st. The oil and gas producer reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.17). Legacy Reserves LP Unit had a negative return on equity of 1.87% and a negative net margin of 8.74%. The company had revenue of $139.28 million during the quarter. On average, sell-side analysts forecast that Legacy Reserves LP Unit will post 0.65 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in the stock. Raymond James & Associates grew its position in Legacy Reserves LP Unit by 33.1% in the second quarter. Raymond James & Associates now owns 103,886 shares of the oil and gas producer’s stock worth $717,000 after acquiring an additional 25,826 shares in the last quarter. AMP Capital Investors Ltd purchased a new position in Legacy Reserves LP Unit in the second quarter worth $316,000. FMR LLC grew its position in Legacy Reserves LP Unit by 7.2% in the second quarter. FMR LLC now owns 9,756,322 shares of the oil and gas producer’s stock worth $67,319,000 after acquiring an additional 652,818 shares in the last quarter. Navellier & Associates Inc purchased a new position in Legacy Reserves LP Unit in the second quarter worth $653,000. Finally, Cavalier Investments LLC purchased a new position in Legacy Reserves LP Unit in the second quarter worth $551,000. Institutional investors own 21.28% of the company’s stock.

A number of research firms have recently commented on LGCY. BidaskClub upgraded shares of Legacy Reserves LP Unit from a “hold” rating to a “buy” rating in a research report on Thursday, June 21st. ValuEngine lowered shares of Legacy Reserves LP Unit from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. Finally, Seaport Global Securities began coverage on shares of Legacy Reserves LP Unit in a research report on Wednesday, September 19th. They set a “neutral” rating for the company.

Legacy Reserves LP Unit Company Profile

Legacy Reserves LP acquires and develops oil and natural gas properties primarily in the Permian Basin, East Texas, Rocky Mountain, and Mid-Continent regions of the United States. As of December 31, 2017, the company owned interests in producing oil and natural gas properties in 606 fields comprising 10,492 gross productive wells, including 3,497 operated and 6,995 non-operated wells located in the Permian Basin, East Texas, Piceance Basin of Colorado, Texas Panhandle, Wyoming, North Dakota, Montana, Oklahoma, and other states.

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Insider Buying and Selling by Quarter for Legacy Reserves LP Unit (NASDAQ:LGCY)

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