Lifetime Brands Inc (NASDAQ:LCUT) Sees Large Decline in Short Interest

Lifetime Brands Inc (NASDAQ:LCUT) was the target of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 424,500 shares, a decline of 8.1% from the August 30th total of 462,000 shares. Based on an average daily trading volume, of 22,400 shares, the short-interest ratio is presently 19.0 days. Approximately 3.4% of the company’s stock are short sold.

Institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its holdings in Lifetime Brands by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 93,393 shares of the company’s stock worth $884,000 after purchasing an additional 1,471 shares during the period. Weber Alan W boosted its holdings in Lifetime Brands by 84.6% in the second quarter. Weber Alan W now owns 120,000 shares of the company’s stock worth $1,135,000 after purchasing an additional 55,000 shares during the period. Northern Trust Corp boosted its holdings in Lifetime Brands by 1.3% in the second quarter. Northern Trust Corp now owns 149,845 shares of the company’s stock worth $1,417,000 after purchasing an additional 1,864 shares during the period. Boston Partners boosted its holdings in Lifetime Brands by 159.5% in the second quarter. Boston Partners now owns 170,245 shares of the company’s stock worth $1,611,000 after purchasing an additional 104,631 shares during the period. Finally, Olstein Capital Management L.P. boosted its holdings in Lifetime Brands by 14.3% in the second quarter. Olstein Capital Management L.P. now owns 220,551 shares of the company’s stock worth $2,086,000 after purchasing an additional 27,551 shares during the period. 44.91% of the stock is owned by hedge funds and other institutional investors.

Lifetime Brands stock traded up $0.47 during mid-day trading on Thursday, reaching $8.43. The company’s stock had a trading volume of 56,200 shares, compared to its average volume of 27,933. The firm has a market cap of $173.44 million, a price-to-earnings ratio of 30.11, a PEG ratio of 0.89 and a beta of 1.32. The business has a 50 day moving average price of $8.27 and a 200-day moving average price of $8.80. The company has a current ratio of 2.67, a quick ratio of 1.01 and a debt-to-equity ratio of 1.56. Lifetime Brands has a twelve month low of $6.70 and a twelve month high of $12.40.

Lifetime Brands (NASDAQ:LCUT) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.08). The business had revenue of $142.54 million during the quarter, compared to analyst estimates of $153.11 million. Lifetime Brands had a positive return on equity of 4.03% and a negative net margin of 0.06%. On average, equities analysts expect that Lifetime Brands will post 0.61 EPS for the current fiscal year.

A number of brokerages recently issued reports on LCUT. TheStreet lowered shares of Lifetime Brands from a “c-” rating to a “d+” rating in a research note on Thursday, August 15th. Zacks Investment Research upgraded shares of Lifetime Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, October 9th. ValuEngine upgraded shares of Lifetime Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, DA Davidson started coverage on shares of Lifetime Brands in a report on Tuesday. They issued a “neutral” rating and a $9.00 price objective for the company. Three analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $9.00.

About Lifetime Brands

Lifetime Brands, Inc designs, sources, and sells branded kitchenware, tableware, and other products for use in the home in the United States and internationally. The company operates through two segments, U.S. and International. It offers kitchenware products, including kitchen tools and gadgets, cutlery, cutting boards, shears, cookware, pantryware, spice racks, and bakeware, as well as kitchen scales; and tableware products comprising dinnerware, stemware, flatware, and giftware.

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