Mackay Shields LLC Invests $183,000 in Lannett Company, Inc. (NYSE:LCI)

Mackay Shields LLC purchased a new position in Lannett Company, Inc. (NYSE:LCI) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 16,300 shares of the company’s stock, valued at approximately $183,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Rhumbline Advisers lifted its position in shares of Lannett by 3.5% in the third quarter. Rhumbline Advisers now owns 109,460 shares of the company’s stock worth $1,226,000 after purchasing an additional 3,740 shares in the last quarter. Parametric Portfolio Associates LLC lifted its position in shares of Lannett by 2.3% in the second quarter. Parametric Portfolio Associates LLC now owns 283,420 shares of the company’s stock worth $1,718,000 after purchasing an additional 6,347 shares in the last quarter. Glen Harbor Capital Management LLC purchased a new stake in shares of Lannett in the second quarter worth approximately $42,000. Charles Schwab Investment Management Inc. lifted its position in shares of Lannett by 3.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 247,095 shares of the company’s stock worth $1,498,000 after purchasing an additional 7,365 shares in the last quarter. Finally, Aperio Group LLC purchased a new stake in shares of Lannett in the second quarter worth approximately $49,000. 97.00% of the stock is owned by institutional investors and hedge funds.

In related news, Director Albert Paonessa III sold 11,582 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $10.30, for a total value of $119,294.60. Following the transaction, the director now owns 62,140 shares in the company, valued at $640,042. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Patrick G. Lepore acquired 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $9.82 per share, for a total transaction of $245,500.00. Following the acquisition, the director now directly owns 201,340 shares of the company’s stock, valued at approximately $1,977,158.80. The disclosure for this purchase can be found here. Insiders purchased 29,000 shares of company stock worth $280,380 in the last 90 days. 12.57% of the stock is currently owned by corporate insiders.

A number of analysts have recently issued reports on the stock. SunTrust Banks increased their price target on shares of Lannett from $10.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, September 18th. Roth Capital reissued a “neutral” rating on shares of Lannett in a research report on Wednesday, August 28th. Zacks Investment Research lowered shares of Lannett from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, ValuEngine raised shares of Lannett from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and a consensus price target of $11.63.

NYSE:LCI opened at $9.03 on Tuesday. The stock’s 50 day moving average price is $11.18 and its 200 day moving average price is $8.39. Lannett Company, Inc. has a 52 week low of $4.33 and a 52 week high of $15.52. The company has a market capitalization of $366.79 million, a P/E ratio of 3.84 and a beta of 2.22. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.60 and a current ratio of 2.43.

Lannett (NYSE:LCI) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. Lannett had a return on equity of 25.40% and a net margin of 0.52%. The firm had revenue of $127.30 million for the quarter, compared to the consensus estimate of $120.78 million. During the same quarter in the prior year, the company posted $0.44 earnings per share. The firm’s revenue was down 17.9% on a year-over-year basis. As a group, sell-side analysts forecast that Lannett Company, Inc. will post 1.19 earnings per share for the current fiscal year.

Lannett Company Profile

Lannett Company, Inc develops, manufactures, packages, markets, and distributes generic versions of brand pharmaceutical products in the United States. The company offers solid oral and extended release, topical, liquid, nasal, and oral solution finished dosage forms of drugs that address a range of therapeutic areas, as well as ophthalmic, patch, foam, buccal, sublingual, suspension, soft gel, and injectable dosages.

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Institutional Ownership by Quarter for Lannett (NYSE:LCI)

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