Lands' End, Inc. (NASDAQ:LE) Short Interest Update

Key Points

• Short interest surged 54.6% in March to 2,906,790 shares (about 9.7% of float), leaving a days-to-cover ratio of roughly 4.1.
• The Board authorized a $100.0 million share repurchase, permitting buybacks of up to 28.9% of outstanding shares, a signal management may view the stock as undervalued.
• Lands' End slightly missed quarterly expectations with $0.76 EPS vs. $0.77 est. and $462.37M revenue vs. $471.01M est.; the stock has a market cap of $360.25M and a P/E of 65.09.

Lands' End, Inc. (NASDAQ:LE - Get Free Report) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totaling 2,906,790 shares, an increase of 54.6% from the March 15th total of 1,880,525 shares. Approximately 9.7% of the company's shares are sold short. Based on an average trading volume of 708,399 shares, the days-to-cover ratio is currently 4.1 days.

Lands' End Stock Performance

Shares of NASDAQ LE traded up $0.40 during trading on Tuesday, reaching $11.72. 89,252 shares of the stock traded hands, compared to its average volume of 388,749. Lands' End has a 52-week low of $7.65 and a 52-week high of $20.04. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.61 and a quick ratio of 0.41. The company has a 50-day moving average of $14.97 and a 200-day moving average of $15.31. The stock has a market capitalization of $360.25 million, a P/E ratio of 65.09 and a beta of 2.49.

Lands' End (NASDAQ:LE - Get Free Report) last issued its quarterly earnings results on Thursday, March 19th. The company reported $0.76 EPS for the quarter, missing analysts' consensus estimates of $0.77 by ($0.01). The firm had revenue of $462.37 million for the quarter, compared to analysts' expectations of $471.01 million. Lands' End had a net margin of 0.41% and a return on equity of 9.80%. Analysts forecast that Lands' End will post 0.41 EPS for the current fiscal year.

Lands' End declared that its Board of Directors has authorized a share repurchase program on Wednesday, April 1st that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 28.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Lands' End in a research note on Monday, December 29th. Wall Street Zen downgraded Lands' End from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 21st. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Lands' End presently has a consensus rating of "Hold".

Hedge Funds Weigh In On Lands' End

Institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets increased its position in shares of Lands' End by 83.0% during 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 during the last quarter. Quarry LP bought a new stake in shares of Lands' End in the 3rd quarter worth $36,000. Integrated Wealth Concepts LLC bought a new stake in shares of Lands' End in the 1st quarter worth $104,000. Los Angeles Capital Management LLC bought a new stake in shares of Lands' End in the 4th quarter worth $137,000. Finally, Wells Fargo & Company MN increased its holdings in shares of Lands' End by 14.5% in the 4th quarter. Wells Fargo & Company MN now owns 10,355 shares of the company's stock worth $150,000 after purchasing an additional 1,309 shares in the last quarter. 37.46% of the stock is currently owned by institutional investors.

About Lands' End

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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