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

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Limbach Holdings Inc (NASDAQ:LMB) was the target of a large decline in short interest in December. As of December 31st, there was short interest totalling 66,400 shares, a decline of 25.1% from the December 15th total of 88,700 shares. Currently, 1.1% of the company’s stock are short sold. Based on an average daily trading volume, of 72,700 shares, the days-to-cover ratio is presently 0.9 days.

In related news, CEO Charles A. Bacon III bought 60,000 shares of Limbach stock in a transaction that occurred on Monday, December 9th. The stock was purchased at an average cost of $2.70 per share, for a total transaction of $162,000.00. Following the acquisition, the chief executive officer now owns 362,331 shares in the company, valued at $978,293.70. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael F. Mcnally bought 25,133 shares of Limbach stock in a transaction that occurred on Wednesday, November 20th. The stock was bought at an average price of $2.85 per share, with a total value of $71,629.05. Following the completion of the acquisition, the director now owns 26,909 shares in the company, valued at approximately $76,690.65. The disclosure for this purchase can be found here. Insiders own 41.90% of the company’s stock.

Several hedge funds have recently modified their holdings of LMB. Advisor Group Inc. lifted its holdings in shares of Limbach by 438.4% during the second quarter. Advisor Group Inc. now owns 2,886 shares of the construction company’s stock worth $26,000 after buying an additional 2,350 shares during the last quarter. Wells Fargo & Company MN acquired a new position in shares of Limbach during the second quarter worth approximately $957,000. JPMorgan Chase & Co. lifted its holdings in shares of Limbach by 690.0% during the second quarter. JPMorgan Chase & Co. now owns 7,900 shares of the construction company’s stock worth $65,000 after buying an additional 6,900 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of Limbach by 10.8% during the second quarter. LPL Financial LLC now owns 40,519 shares of the construction company’s stock worth $369,000 after buying an additional 3,954 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Limbach during the second quarter worth approximately $1,559,000. Institutional investors own 32.81% of the company’s stock.

LMB traded up $0.13 on Tuesday, hitting $4.05. The company had a trading volume of 31,200 shares, compared to its average volume of 40,222. The company’s fifty day moving average price is $3.23 and its 200 day moving average price is $5.25. Limbach has a 1-year low of $2.60 and a 1-year high of $11.45. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market cap of $30.10 million, a price-to-earnings ratio of -7.79, a price-to-earnings-growth ratio of 0.32 and a beta of 1.62.

Limbach (NASDAQ:LMB) last issued its quarterly earnings results on Thursday, November 14th. The construction company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.13). Limbach had a return on equity of 11.17% and a net margin of 0.11%. The business had revenue of $147.77 million for the quarter, compared to analyst estimates of $142.00 million. On average, sell-side analysts forecast that Limbach will post 0.45 EPS for the current year.

Several equities research analysts recently weighed in on LMB shares. Zacks Investment Research lowered Limbach from a “hold” rating to a “sell” rating in a report on Tuesday, December 24th. DA Davidson reduced their target price on Limbach to $5.00 and set an “average” rating for the company in a report on Monday, November 18th.

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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