Limbach Holdings Inc (NASDAQ:LMB) Sees Significant Decline in Short Interest

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Limbach Holdings Inc (NASDAQ:LMB) was the target of a significant decrease in short interest in August. As of August 15th, there was short interest totalling 32,900 shares, a decrease of 24.4% from the July 15th total of 43,500 shares. Currently, 0.7% of the company’s stock are sold short. Based on an average daily trading volume, of 104,400 shares, the days-to-cover ratio is presently 0.3 days.

In related news, insider 1347 Investors Llc sold 200,000 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $9.00, for a total transaction of $1,800,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 41.90% of the company’s stock.

Large investors have recently made changes to their positions in the business. Hillsdale Investment Management Inc. bought a new position in Limbach in the 2nd quarter valued at $2,196,000. Dimensional Fund Advisors LP grew its stake in Limbach by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 522,440 shares of the construction company’s stock valued at $1,923,000 after purchasing an additional 12,089 shares during the period. Bailard Inc. bought a new position in Limbach in the 2nd quarter valued at $194,000. BlackRock Inc. grew its stake in Limbach by 70.0% in the 4th quarter. BlackRock Inc. now owns 22,989 shares of the construction company’s stock valued at $85,000 after purchasing an additional 9,470 shares during the period. Finally, Renaissance Technologies LLC bought a new position in Limbach in the 2nd quarter valued at $1,559,000. Hedge funds and other institutional investors own 31.37% of the company’s stock.

NASDAQ:LMB traded down $0.18 during trading on Tuesday, reaching $4.37. The company’s stock had a trading volume of 118,900 shares, compared to its average volume of 72,095. The firm has a market cap of $35.22 million, a price-to-earnings ratio of -8.40, a price-to-earnings-growth ratio of 0.32 and a beta of 1.48. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a 50 day moving average of $7.63 and a 200-day moving average of $7.76. Limbach has a 12 month low of $3.56 and a 12 month high of $12.18.

Limbach (NASDAQ:LMB) last announced its quarterly earnings data on Wednesday, August 14th. The construction company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.32). The business had revenue of $132.75 million during the quarter, compared to the consensus estimate of $138.00 million. Limbach had a net margin of 0.09% and a return on equity of 2.21%. Equities research analysts forecast that Limbach will post 0.88 earnings per share for the current fiscal year.

LMB has been the subject of several recent research reports. Zacks Investment Research downgraded Limbach from a “hold” rating to a “strong sell” rating in a report on Thursday, August 22nd. TheStreet upgraded Limbach from a “d+” rating to a “c” rating in a report on Wednesday, May 29th. Finally, DA Davidson decreased their price target on Limbach to $9.00 and set a “buy” rating for the company in a report on Monday, August 19th.

About Limbach

Limbach Holdings, Inc provides commercial specialty contract services in the United States. It operates in two segments, Construction and Service. The company provides services in the areas of heating, ventilation, air-conditioning (HVAC), plumbing, electrical, and building controls for the design and construction of new and renovated buildings; maintenance services; and equipment upgrades.

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