Short Interest in Luby’s, Inc. (NYSE:LUB) Declines By 79.7%
Luby’s, Inc. (NYSE:LUB) saw a significant drop in short interest in the month of June. As of June 30th, there was short interest totalling 139,827 shares, a drop of 79.7% from the June 15th total of 689,581 shares. Based on an average daily volume of 212,451 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.7% of the company’s stock are sold short.
In other Luby’s news, Director Harris J. Pappas bought 54,683 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were acquired at an average cost of $2.84 per share, with a total value of $155,299.72. Following the completion of the transaction, the director now owns 3,910,349 shares in the company, valued at $11,105,391.16. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christopher James Pappas bought 87,500 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were acquired at an average cost of $3.11 per share, for a total transaction of $272,125.00. Following the completion of the transaction, the insider now owns 4,182,096 shares of the company’s stock, valued at approximately $13,006,318.56. The disclosure for this purchase can be found here. Insiders acquired 373,972 shares of company stock worth $1,161,257 over the last three months. 35.20% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Grace & White Inc. NY raised its position in shares of Luby’s by 40.4% in the first quarter. Grace & White Inc. NY now owns 539,319 shares of the restaurant operator’s stock worth $1,677,000 after buying an additional 155,055 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Luby’s by 445.1% in the first quarter. Wells Fargo & Company MN now owns 42,741 shares of the restaurant operator’s stock worth $133,000 after buying an additional 34,900 shares in the last quarter. Finally, First Manhattan Co. raised its position in shares of Luby’s by 5.4% in the first quarter. First Manhattan Co. now owns 33,120 shares of the restaurant operator’s stock worth $142,000 after buying an additional 1,700 shares in the last quarter. 47.01% of the stock is owned by institutional investors and hedge funds.
Shares of Luby’s (LUB) opened at 2.97 on Thursday. The stock’s 50 day moving average price is $2.97 and its 200-day moving average price is $3.23. The stock’s market capitalization is $86.48 million. Luby’s has a 12 month low of $2.45 and a 12 month high of $4.75.
Luby’s (NYSE:LUB) last released its earnings results on Wednesday, July 12th. The restaurant operator reported ($0.02) earnings per share for the quarter. The firm had revenue of $88.72 million for the quarter. Luby’s had a negative return on equity of 4.97% and a negative net margin of 6.96%. Equities analysts forecast that Luby’s will post ($0.07) earnings per share for the current fiscal year.
Luby’s Company Profile
Luby’s, Inc, is a multi-branded company operating in the restaurant industry and in the contract food services industry. The Company is managed through three segments: Company-owned restaurants, franchise operations, and Culinary Contract Services (CSS). The company-owned restaurants brands are Luby’s Cafeteria, Fuddruckers, and Cheeseburger in Paradise with a couple of non-core restaurant locations under other brand names.
Receive News & Ratings for Luby's Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Luby's Inc. and related companies with MarketBeat.com's FREE daily email newsletter.