Legion Partners Asset Management LLC Has $32.93 Million Holdings in Lifecore Biomedical, Inc. (NASDAQ:LFCR)

Legion Partners Asset Management LLC boosted its position in Lifecore Biomedical, Inc. (NASDAQ:LFCR - Free Report) by 49.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,431,823 shares of the company's stock after buying an additional 1,463,414 shares during the quarter. Lifecore Biomedical makes up about 22.0% of Legion Partners Asset Management LLC's holdings, making the stock its 3rd biggest position. Legion Partners Asset Management LLC owned about 11.97% of Lifecore Biomedical worth $32,928,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ARS Investment Partners LLC acquired a new position in Lifecore Biomedical in the 4th quarter valued at $74,000. Prudential Financial Inc. acquired a new stake in Lifecore Biomedical in the 4th quarter worth $95,000. Wells Fargo & Company MN grew its position in Lifecore Biomedical by 29.0% in the 4th quarter. Wells Fargo & Company MN now owns 13,381 shares of the company's stock worth $99,000 after purchasing an additional 3,012 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in Lifecore Biomedical in the 4th quarter worth $108,000. Finally, Lepercq Multi Asset Fund acquired a new stake in Lifecore Biomedical in the 4th quarter worth $169,000. 83.36% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Aron R. English sold 15,847 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $7.01, for a total transaction of $111,087.47. Following the completion of the transaction, the insider now directly owns 1,714,070 shares of the company's stock, valued at approximately $12,015,630.70. This trade represents a 0.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 99,122 shares of company stock worth $697,347 in the last ninety days. Insiders own 32.20% of the company's stock.

Lifecore Biomedical Stock Performance

NASDAQ LFCR traded up $0.18 during midday trading on Friday, hitting $6.89. The company had a trading volume of 183,659 shares, compared to its average volume of 234,682. The company has a quick ratio of 1.21, a current ratio of 2.32 and a debt-to-equity ratio of 9.21. The stock has a market cap of $255.10 million, a price-to-earnings ratio of -12.30 and a beta of 0.65. The firm has a fifty day simple moving average of $6.48 and a two-hundred day simple moving average of $6.54. Lifecore Biomedical, Inc. has a fifty-two week low of $3.68 and a fifty-two week high of $7.99.

Lifecore Biomedical (NASDAQ:LFCR - Get Free Report) last posted its quarterly earnings results on Thursday, April 3rd. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.05). The company had revenue of $35.15 million during the quarter, compared to analyst estimates of $33.23 million. Lifecore Biomedical had a negative return on equity of 315.23% and a negative net margin of 12.52%. Equities analysts forecast that Lifecore Biomedical, Inc. will post -0.91 earnings per share for the current fiscal year.

Lifecore Biomedical Profile

Lifecore Biomedical, Inc, together with its subsidiaries, operates as an integrated contract development and manufacturing organization in the United States and internationally. The company engages in the manufacturing of pharmaceutical-grade sodium hyaluronate (HA) in bulk form, as well as formulated and filled syringes and vials for injectable products used in treating a range of medical conditions and procedures.