Limbach Holdings, Inc. (NASDAQ:LMB – Get Rating) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 28,900 shares, a growth of 18.4% from the August 31st total of 24,400 shares. Currently, 0.3% of the company's stock are sold short. Based on an average trading volume of 19,600 shares, the days-to-cover ratio is presently 1.5 days.
Analyst Upgrades and Downgrades
Separately, StockNews.com initiated coverage on shares of Limbach in a report on Monday, September 26th. They issued a "hold" rating on the stock.
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Institutional Investors Weigh In On Limbach
Several institutional investors have recently added to or reduced their stakes in LMB. Royce & Associates LP lifted its holdings in Limbach by 8.4% during the first quarter. Royce & Associates LP now owns 1,060,724 shares of the construction company's stock valued at $7,372,000 after purchasing an additional 82,102 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Limbach by 33.4% during the first quarter. Victory Capital Management Inc. now owns 240,664 shares of the construction company's stock valued at $1,673,000 after buying an additional 60,224 shares during the period. Barrett Asset Management LLC bought a new stake in shares of Limbach during the first quarter valued at about $246,000. Dimensional Fund Advisors LP increased its position in shares of Limbach by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 431,681 shares of the construction company's stock valued at $3,000,000 after buying an additional 16,924 shares during the period. Finally, Brighton Jones LLC bought a new stake in shares of Limbach during the first quarter valued at about $82,000. 36.42% of the stock is owned by hedge funds and other institutional investors.
Limbach Stock Performance
Shares of NASDAQ:LMB traded up $0.55 during midday trading on Friday, reaching $7.60. The company had a trading volume of 44,907 shares, compared to its average volume of 18,569. The company's 50 day moving average price is $6.95 and its 200 day moving average price is $6.39. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.28. The stock has a market cap of $79.42 million, a P/E ratio of 10.56, a P/E/G ratio of 0.70 and a beta of 0.91. Limbach has a 52-week low of $4.90 and a 52-week high of $9.24.
Limbach (NASDAQ:LMB – Get Rating) last issued its quarterly earnings results on Tuesday, August 9th. The construction company reported $0.15 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.05). The company had revenue of $116.12 million during the quarter, compared to analysts' expectations of $131.00 million. Limbach had a return on equity of 11.88% and a net margin of 1.56%. As a group, sell-side analysts anticipate that Limbach will post 0.84 EPS for the current fiscal year.
About Limbach
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Limbach Holdings, Inc operates as an integrated building systems solutions company in the United States. It operates in two segments, General Contractor Relationships and Owner Direct Relationships. The company engages in the design, prefabrication, installation, management, and maintenance of mechanical, electrical, plumbing, and control systems, as well as heating, ventilation, air-conditioning (HVAC) system.
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