Granite Point Capital Management L.P. Boosts Stock Position in Livent Co. (NYSE:LTHM)

Granite Point Capital Management L.P. grew its position in shares of Livent Co. (NYSE:LTHMGet Rating) by 44.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,977 shares of the company’s stock after buying an additional 30,000 shares during the period. Granite Point Capital Management L.P.’s holdings in Livent were worth $2,364,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of LTHM. Marshall Wace LLP purchased a new position in shares of Livent during the 1st quarter valued at $52,000. First Trust Advisors LP purchased a new position in shares of Livent during the 1st quarter valued at $1,710,000. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Livent during the 1st quarter valued at $798,000. Morgan Stanley lifted its position in shares of Livent by 44.7% during the 2nd quarter. Morgan Stanley now owns 1,884,049 shares of the company’s stock valued at $36,475,000 after buying an additional 582,130 shares during the last quarter. Finally, Advisor Group Holdings Inc. lifted its position in shares of Livent by 22.1% during the 3rd quarter. Advisor Group Holdings Inc. now owns 51,509 shares of the company’s stock valued at $1,192,000 after buying an additional 9,328 shares during the last quarter. 97.33% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Livent stock opened at $28.33 on Friday. The company has a current ratio of 3.03, a quick ratio of 1.78 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $4.58 billion, a PE ratio of 104.93 and a beta of 2.03. The business’s 50-day moving average price is $24.88 and its 200-day moving average price is $25.11. Livent Co. has a 12 month low of $16.75 and a 12 month high of $33.04.

Livent (NYSE:LTHMGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.14 by $0.07. The firm had revenue of $143.50 million for the quarter, compared to analyst estimates of $139.92 million. Livent had a return on equity of 8.69% and a net margin of 11.56%. The company’s revenue was up 56.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.02 EPS. As a group, analysts predict that Livent Co. will post 1.23 earnings per share for the current fiscal year.

A number of brokerages recently issued reports on LTHM. Zacks Investment Research cut Livent from a “buy” rating to a “hold” rating in a report on Friday, February 18th. TheStreet raised Livent from a “c” rating to a “b-” rating in a report on Wednesday, May 4th. The Goldman Sachs Group dropped their price objective on Livent from $23.00 to $20.00 and set a “sell” rating on the stock in a report on Tuesday, March 1st. Cowen raised Livent from a “market perform” rating to an “outperform” rating in a report on Wednesday, May 4th. Finally, Bank of America raised Livent from an “underperform” rating to a “neutral” rating in a report on Tuesday, February 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $29.23.

Livent Profile (Get Rating)

Livent Corporation manufactures and sells performance lithium compounds primarily used in lithium-based batteries, specialty polymers, and chemical synthesis applications in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. The company offers lithium compounds for use in applications that have specific performance requirements, including battery-grade lithium hydroxide for use in high performance lithium-ion batteries; and butyllithium, which is used in the production of polymers and pharmaceutical products, as well as a range of specialty lithium compounds, including high purity lithium metal, which is used in non-rechargeable batteries and the production of lightweight materials for aerospace applications.

Recommended Stories

Want to see what other hedge funds are holding LTHM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Livent Co. (NYSE:LTHMGet Rating).

Institutional Ownership by Quarter for Livent (NYSE:LTHM)

Receive News & Ratings for Livent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Livent and related companies with MarketBeat.com's FREE daily email newsletter.