Short Interest in Libbey Inc. (LBY) Grows By 4.3%
Libbey Inc. (NYSEAMERICAN:LBY) saw a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 820,782 shares, an increase of 4.3% from the November 15th total of 787,199 shares. Approximately 3.9% of the shares of the company are sold short. Based on an average daily volume of 221,606 shares, the days-to-cover ratio is presently 3.7 days.
A number of equities research analysts have recently issued reports on LBY shares. Zacks Investment Research cut shares of Libbey from a “hold” rating to a “strong sell” rating in a report on Friday, November 3rd. TheStreet cut shares of Libbey from a “c-” rating to a “d” rating in a report on Tuesday, October 31st.
Institutional investors and hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP grew its position in shares of Libbey by 153.4% during the 3rd quarter. GSA Capital Partners LLP now owns 119,100 shares of the company’s stock worth $1,103,000 after purchasing an additional 72,096 shares in the last quarter. California Public Employees Retirement System grew its position in shares of Libbey by 24.7% during the 3rd quarter. California Public Employees Retirement System now owns 124,726 shares of the company’s stock worth $1,155,000 after purchasing an additional 24,726 shares in the last quarter. Royce & Associates LP acquired a new position in shares of Libbey during the 3rd quarter worth approximately $2,222,000. Finally, Spitfire Capital LLC grew its position in shares of Libbey by 6.0% during the 3rd quarter. Spitfire Capital LLC now owns 961,437 shares of the company’s stock worth $8,903,000 after purchasing an additional 54,281 shares in the last quarter.
Libbey (NYSEAMERICAN:LBY) last announced its quarterly earnings results on Tuesday, October 31st. The company reported ($3.57) EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($3.88). Libbey had a negative net margin of 41.83% and a negative return on equity of 290.54%. The company had revenue of $187.30 million during the quarter, compared to analyst estimates of $193.74 million. During the same quarter last year, the company posted $0.13 EPS. The firm’s quarterly revenue was down 4.9% on a year-over-year basis.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Tuesday, November 7th were paid a $0.117 dividend. The ex-dividend date was Monday, November 6th. This represents a $0.47 dividend on an annualized basis and a yield of 7.74%. This is a positive change from Libbey’s previous quarterly dividend of $0.12. Libbey’s dividend payout ratio is -11.72%.
Libbey Company Profile
Libbey Inc is engaged in the design, production and sale of tableware and other products. The Company’s segments are U.S. & Canada; Latin America; Europe, the Middle East and Africa (EMEA) and Other. The U.S. & Canada segment includes sales of manufactured and sourced tableware having an end market destination in the United States and Canada, excluding glass products for original equipment manufacturers (OEMs), which remain in the Latin America segment.
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