Short Interest in Limbach Holdings, Inc. (NASDAQ:LMB) Increases By 18.5%

Limbach Holdings, Inc. (NASDAQ:LMB) was the recipient of a large growth in short interest in the month of 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. Based on an average daily volume of 215,800 shares, the short-interest ratio is currently 3.0 days. Approximately 6.6% of the shares of the company are sold short.

Limbach Price Performance

LMB stock traded down $4.45 during midday trading on Monday, hitting $82.15. The company’s stock had a trading volume of 538,188 shares, compared to its average volume of 171,894. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.14. Limbach has a 12 month low of $38.87 and a 12 month high of $107.00. The company has a 50 day moving average of $79.31 and a two-hundred day moving average of $87.06. The firm has a market capitalization of $932.65 million, a price-to-earnings ratio of 37.34, a price-to-earnings-growth ratio of 2.22 and a beta of 1.01.

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

Insider Transactions at Limbach

In related news, Director Joshua Horowitz sold 25,400 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $75.43, for a total value of $1,915,922.00. Following the transaction, the director now directly owns 164,600 shares of the company’s stock, valued at approximately $12,415,778. This trade represents a 13.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 10.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LMB. Versant Capital Management Inc grew its stake in shares of Limbach by 592.6% in the 1st quarter. Versant Capital Management Inc now owns 374 shares of the construction company’s stock worth $28,000 after buying an additional 320 shares in the last quarter. IFP Advisors Inc bought a new stake in shares of Limbach during the fourth quarter worth $37,000. Comerica Bank lifted its holdings in Limbach by 727.4% during 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 in the last quarter. US Bancorp DE purchased a new stake in shares of Limbach in the fourth quarter valued at approximately $115,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Limbach during the 4th quarter worth $154,000. 55.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.