Insider Selling: Van Den Berg Management I, Inc Unloads 3,915 Shares of Layne Christensen Company Stock (LAYN)
Layne Christensen Company (NASDAQ:LAYN) major shareholder Van Den Berg Management I, Inc sold 3,915 shares of Layne Christensen Company stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $11.25, for a total transaction of $44,043.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Layne Christensen Company (NASDAQ:LAYN) traded down 1.37% during mid-day trading on Wednesday, hitting $11.49. 218,713 shares of the company’s stock traded hands. Layne Christensen Company has a 1-year low of $10.10 and a 1-year high of $20.75. The stock has a 50-day moving average of $11.15 and a 200-day moving average of $14.80. The company’s market cap is $225.5 million.
Layne Christensen Company (NASDAQ:LAYN) last posted its quarterly earnings results on Monday, June 16th. The company reported ($1.41) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.34) by $1.07. The company had revenue of $191.20 million for the quarter, compared to the consensus estimate of $206.58 million. During the same quarter last year, the company posted ($0.81) earnings per share. Layne Christensen Company’s revenue was down 15.5% compared to the same quarter last year. Analysts expect that Layne Christensen Company will post $-2.00 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Layne Christensen Company from an “underperform” rating to a “neutral” rating in a research note on Tuesday, August 19th. They now have a $11.50 price target on the stock. Separately, analysts at DA Davidson cut their price target on shares of Layne Christensen Company from $15.00 to $13.00 in a research note on Tuesday, July 22nd. They now have a “neutral” rating on the stock. Finally, analysts at Jefferies Group cut their price target on shares of Layne Christensen Company from $17.00 to $14.50 in a research note on Tuesday, June 17th. They now have a “hold” rating on the stock.
Layne Christensen Company is a global water management, construction and drilling company. The Company provides solutions for water, mineral and energy challenges.
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