Lands' End, Inc. (NASDAQ:LE) Short Interest Down 20.9% in April

Key Points

• Short interest fell 20.9% in April to 2,300,375 shares—about 7.6% of the stock sold short—with a days-to-cover ratio of 4.6.
• On April 1 the board authorized a $100 million share buyback, permitting repurchases of up to 28.9% of shares via open-market purchases.
• The company slightly missed quarterly expectations (EPS $0.76 vs. $0.77 est.) and reported revenue below estimates, while the stock trades near $11.29 with a market cap of roughly $347.2 million and a P/E of 62.7.

Lands' End, Inc. (NASDAQ:LE - Get Free Report) saw a significant decrease in short interest in the month of April. As of April 15th, there was short interest totaling 2,300,375 shares, a decrease of 20.9% from the March 31st total of 2,906,790 shares. Based on an average trading volume of 504,121 shares, the days-to-cover ratio is presently 4.6 days. Approximately 7.6% of the company's stock are sold short.

Lands' End Stock Performance

NASDAQ:LE traded up $0.31 during midday trading on Thursday, hitting $11.29. The company's stock had a trading volume of 219,388 shares, compared to its average volume of 351,618. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.61 and a quick ratio of 0.41. Lands' End has a fifty-two week low of $7.65 and a fifty-two week high of $20.04. The firm's 50 day moving average is $13.34 and its 200-day moving average is $15.03. The firm has a market cap of $347.17 million, a P/E ratio of 62.73 and a beta of 2.49.

Lands' End (NASDAQ:LE - Get Free Report) last announced its quarterly earnings data on Thursday, March 19th. The company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.01). Lands' End had a net margin of 0.41% and a return on equity of 9.80%. The business had revenue of $462.37 million for the quarter, compared to analyst estimates of $471.01 million. Equities analysts anticipate that Lands' End will post 0.97 earnings per share for the current fiscal year.

Lands' End announced that its Board of Directors has initiated a share buyback program on Wednesday, April 1st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 28.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Institutional Investors Weigh In On Lands' End

A number of institutional investors have recently added to or reduced their stakes in LE. BNP Paribas Financial Markets lifted its holdings in Lands' End by 83.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,384 shares of the company's stock valued at $34,000 after purchasing an additional 1,081 shares in the last quarter. Quarry LP purchased a new position in Lands' End in the 3rd quarter valued at $36,000. Integrated Wealth Concepts LLC purchased a new position in Lands' End in the 1st quarter valued at $104,000. Los Angeles Capital Management LLC purchased a new position in Lands' End in the 4th quarter valued at $137,000. Finally, Wells Fargo & Company MN lifted its holdings in Lands' End by 14.5% in the 4th quarter. Wells Fargo & Company MN now owns 10,355 shares of the company's stock valued at $150,000 after purchasing an additional 1,309 shares in the last quarter. Institutional investors and hedge funds own 37.46% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Lands' End from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 21st. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of "Hold".

Lands' End Company Profile

Lands' End, Inc NASDAQ: LE is an American retailer specializing in casual apparel, accessories and home goods. Headquartered in Dodgeville, Wisconsin, the company sells its products through a combination of direct-to-consumer channels including e-commerce, catalogues and a network of outlet stores. Lands' End is known for its nautical-inspired designs, functional outerwear and commitment to quality fabrics.

Founded in 1963 by Gary Comer as a mail-order sailing supply business, Lands' End rapidly expanded its product offering beyond marine gear.

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