Libbey Inc. (LBY) Short Interest Up 2.7% in December

Libbey Inc. (NYSEAMERICAN:LBY) was the recipient of a significant increase in short interest in the month of December. As of December 29th, there was short interest totalling 981,688 shares, an increase of 2.7% from the December 15th total of 956,174 shares. Approximately 4.6% of the company’s shares are short sold. Based on an average daily volume of 232,954 shares, the days-to-cover ratio is currently 4.2 days.

Hedge funds have recently made changes to their positions in the stock. Spitfire Capital LLC increased its position in Libbey by 6.0% in the third 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 during the period. Royce & Associates LP acquired a new position in shares of Libbey during the 3rd quarter worth about $2,222,000. 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 buying an additional 72,096 shares during the period. Finally, 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 buying an additional 24,726 shares during the period.

A number of analysts recently commented on LBY shares. Zacks Investment Research upgraded Libbey from a “sell” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Wednesday, October 18th. TheStreet lowered Libbey from a “c-” rating to a “d” rating in a research report on Tuesday, October 31st.

Shares of Libbey (LBY) traded down $0.10 during mid-day trading on Wednesday, reaching $7.29. The company had a trading volume of 110,400 shares, compared to its average volume of 198,917. The firm has a market capitalization of $169.96, a price-to-earnings ratio of -1.82 and a beta of 1.11. Libbey has a 1 year low of $5.81 and a 1 year high of $18.92.

Libbey (NYSEAMERICAN:LBY) last announced its quarterly earnings data on Tuesday, October 31st. The company reported ($3.57) EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($3.88). The firm had revenue of $187.30 million during the quarter, compared to analyst estimates of $193.74 million. Libbey had a negative return on equity of 290.54% and a negative net margin of 41.83%. Libbey’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.13 earnings per share.

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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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