Walleye Capital LLC Makes New Investment in Lifetime Brands, Inc. $LCUT

Walleye Capital LLC acquired a new position in Lifetime Brands, Inc. (NASDAQ:LCUT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 52,043 shares of the company’s stock, valued at approximately $444,000. Walleye Capital LLC owned about 0.23% of Lifetime Brands at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LCUT. Ameriprise Financial Inc. grew its stake in shares of Lifetime Brands by 16.8% during the second quarter. Ameriprise Financial Inc. now owns 908,722 shares of the company’s stock valued at $4,634,000 after buying an additional 130,650 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of Lifetime Brands by 388.4% during the 4th quarter. Jane Street Group LLC now owns 51,795 shares of the company’s stock worth $205,000 after acquiring an additional 41,191 shares during the last quarter. JB Capital Partners LP boosted its holdings in Lifetime Brands by 2.5% during the 4th quarter. JB Capital Partners LP now owns 1,627,852 shares of the company’s stock valued at $6,430,000 after acquiring an additional 40,000 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in Lifetime Brands during the 3rd quarter valued at $118,000. Finally, Qube Research & Technologies Ltd bought a new position in Lifetime Brands in the 2nd quarter valued at $88,000. Hedge funds and other institutional investors own 40.62% of the company’s stock.

Lifetime Brands Trading Up 2.7%

LCUT opened at $9.83 on Friday. The stock’s fifty day moving average is $8.65 and its two-hundred day moving average is $6.65. The company has a market capitalization of $225.98 million, a P/E ratio of 6.87, a PEG ratio of 0.34 and a beta of 1.00. Lifetime Brands, Inc. has a 52 week low of $2.90 and a 52 week high of $10.12. The company has a quick ratio of 0.99, a current ratio of 2.11 and a debt-to-equity ratio of 0.51.

Lifetime Brands (NASDAQ:LCUT) last issued its earnings results on Thursday, August 6th. The company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $1.39. Lifetime Brands had a return on equity of 26.39% and a net margin of 4.81%.The business had revenue of $141.57 million during the quarter, compared to analyst estimates of $136.64 million. Analysts forecast that Lifetime Brands, Inc. will post 2.08 earnings per share for the current year.

Lifetime Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be issued a $0.0425 dividend. This represents a $0.17 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, October 30th. Lifetime Brands’s payout ratio is presently 11.89%.

Wall Street Analyst Weigh In

LCUT has been the topic of a number of recent analyst reports. Canaccord Genuity Group increased their target price on Lifetime Brands from $6.00 to $7.00 and gave the stock a “hold” rating in a research note on Wednesday, July 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Lifetime Brands in a research note on Monday, July 6th. Zacks Research upgraded shares of Lifetime Brands from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Roth Capital reaffirmed a “buy” rating and issued a $12.00 price target on shares of Lifetime Brands in a research note on Tuesday. Finally, Wall Street Zen upgraded shares of Lifetime Brands from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 17th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.50.

Lifetime Brands Profile

Lifetime Brands, Inc, through its subsidiaries, designs, sources, manufactures and distributes a broad portfolio of consumer products for the home. Headquartered in Garden City, New York, the company operates three primary business segments—Kitchenware, Tabletop & Home Décor and Tools & Storage—providing solutions for food preparation, cooking, serving and storage under both proprietary and licensed brand names.

In the Kitchenware segment, Lifetime Brands offers cookware, bakeware, cutlery and small electric appliances under brands such as Farberware and Chef’sChoice.