LL Flooring Holdings, Inc. (NYSE:LL – Get Rating) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 1,790,000 shares, an increase of 11.9% from the August 15th total of 1,600,000 shares. Currently, 6.3% of the company's shares are short sold. Based on an average daily volume of 249,900 shares, the days-to-cover ratio is presently 7.2 days.
Wall Street Analyst Weigh In
Separately, StockNews.com downgraded LL Flooring from a "hold" rating to a "sell" rating in a report on Wednesday.
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LL Flooring Stock Performance
Shares of NYSE:LL opened at $7.17 on Wednesday. The company has a market cap of $210.37 million, a P/E ratio of 8.15 and a beta of 2.19. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.13 and a current ratio of 1.58. LL Flooring has a one year low of $7.00 and a one year high of $20.35. The business's 50-day simple moving average is $9.15 and its 200 day simple moving average is $11.45.
LL Flooring (NYSE:LL – Get Rating) last announced its earnings results on Wednesday, August 3rd. The specialty retailer reported $0.13 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.10). The company had revenue of $298.96 million for the quarter, compared to analysts' expectations of $303.00 million. LL Flooring had a net
margin of 2.26% and a return on equity of 9.69%. The business's quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 earnings per share. On average, sell-side analysts forecast that LL Flooring will post 0.55 earnings per share for the current fiscal year.
Insider Transactions at LL Flooring
In other news, Director Famous P. Rhodes acquired 6,635 shares of the business's stock in a transaction dated Monday, August 8th. The shares were bought at an average cost of $9.86 per share, for a total transaction of $65,421.10. Following the acquisition, the director now directly owns 31,625 shares in the company, valued at approximately $311,822.50. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.59% of the company's stock.
Institutional Investors Weigh In On LL Flooring
Hedge funds have recently modified their holdings of the stock. WINTON GROUP Ltd grew its stake in LL Flooring by 16.6% during the 1st quarter. WINTON GROUP Ltd now owns 42,043 shares of the specialty retailer's stock valued at $589,000 after purchasing an additional 5,987 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in LL Flooring by 4.5% during the 1st quarter. SummerHaven Investment Management LLC now owns 46,358 shares of the specialty retailer's stock valued at $650,000 after purchasing an additional 2,007 shares in the last quarter. Values First Advisors Inc. grew its stake in LL Flooring by 6.9% during the 1st quarter. Values First Advisors Inc. now owns 22,279 shares of the specialty retailer's stock valued at $312,000 after purchasing an additional 1,447 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in LL Flooring by 2.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 33,354 shares of the specialty retailer's stock valued at $468,000 after purchasing an additional 881 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its stake in LL Flooring by 123.0% during the 1st quarter. First Eagle Investment Management LLC now owns 88,120 shares of the specialty retailer's stock valued at $1,235,000 after purchasing an additional 48,610 shares in the last quarter. 79.45% of the stock is currently owned by hedge funds and other institutional investors.
About LL Flooring
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LL Flooring 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; waterproof vinyl plank, engineered hardwood, laminate, bamboo, porcelain tile, and cork products; and flooring enhancements and accessories, including moldings, underlayment, adhesives, and tools under the Bellawood and Coreluxe brand names.
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