Limbach Holdings, Inc. (NASDAQ:LMB) Short Interest Up 18.5% in March

Limbach Holdings, Inc. (NASDAQ:LMB) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totalling 652,900 shares, a growth of 18.5% from the March 15th total of 550,800 shares. Approximately 6.6% of the company’s stock are short sold. Based on an average daily volume of 215,800 shares, the days-to-cover ratio is currently 3.0 days.

Insider Buying and Selling at Limbach

In other news, Director Joshua Horowitz sold 25,400 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $75.43, for a total transaction of $1,915,922.00. Following the completion of the sale, the director now owns 164,600 shares in the company, valued at approximately $12,415,778. This represents a 13.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 10.20% of the company’s stock.

Institutional Trading of Limbach

Hedge funds and other institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc lifted its position in Limbach by 592.6% during the first quarter. Versant Capital Management Inc now owns 374 shares of the construction company’s stock valued at $28,000 after purchasing an additional 320 shares during the period. IFP Advisors Inc purchased a new position in shares of Limbach during the 4th quarter valued at about $37,000. Comerica Bank lifted its holdings in shares of Limbach by 727.4% in the 4th quarter. Comerica Bank now owns 695 shares of the construction company’s stock valued at $59,000 after buying an additional 611 shares during the period. US Bancorp DE purchased a new stake in shares of Limbach in the fourth quarter worth about $115,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Limbach in the fourth quarter worth about $154,000. Institutional investors and hedge funds own 55.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on LMB shares. Lake Street Capital upped their target price on Limbach from $100.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Stifel Nicolaus set a $103.00 price objective on shares of Limbach in a report on Wednesday, March 12th.

Limbach Stock Performance

Shares of NASDAQ LMB traded down $4.45 during mid-day trading on Monday, hitting $82.15. The stock had a trading volume of 538,188 shares, compared to its average volume of 171,894. The company has a 50 day moving average of $79.31 and a two-hundred day moving average of $87.06. Limbach has a twelve month low of $38.87 and a twelve month high of $107.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a market cap of $932.65 million, a PE ratio of 37.34, a PEG ratio of 2.22 and a beta of 1.01.

Limbach (NASDAQ:LMB) last announced its quarterly earnings data on Monday, March 10th. The construction company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.31. Limbach had a return on equity of 20.16% and a net margin of 5.08%. The firm had revenue of $143.70 million during the quarter, compared to analysts’ expectations of $149.37 million. During the same period last year, the business posted $0.68 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. Research analysts predict that Limbach will post 2.54 EPS for the current fiscal year.

Limbach Company Profile

Limbach Holdings, Inc operates as a building systems solution company in the United States. It operates through two segments, General Contractor Relationships and Owner Direct Relationships. The company engages in the construction and renovation projects that involve primarily include mechanical, plumbing, and electrical services.