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DOW   27,452.66 (-0.48%)
QQQ   275.95 (-0.45%)
AAPL   114.09 (-0.76%)
MSFT   207.26 (-1.04%)
FB   261.79 (+1.94%)
GOOGL   1,466.02 (+0.50%)
AMZN   3,144.88 (-0.92%)
TSLA   419.07 (-0.51%)
NVDA   529.03 (+1.46%)
BABA   276.93 (+0.33%)
CGC   14.50 (+2.04%)
GE   6.12 (-1.29%)
MU   50.71 (+1.99%)
AMD   81.77 (+2.88%)
T   28.30 (-0.28%)
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ACB   4.68 (-2.09%)
GILD   62.10 (-1.19%)
NFLX   493.48 (+0.58%)
DIS   125.40 (-0.47%)
BA   163.60 (-1.49%)
BAC   23.77 (-1.33%)
S&P 500   3,335.47 (-0.48%)
DOW   27,452.66 (-0.48%)
QQQ   275.95 (-0.45%)
AAPL   114.09 (-0.76%)
MSFT   207.26 (-1.04%)
FB   261.79 (+1.94%)
GOOGL   1,466.02 (+0.50%)
AMZN   3,144.88 (-0.92%)
TSLA   419.07 (-0.51%)
NVDA   529.03 (+1.46%)
BABA   276.93 (+0.33%)
CGC   14.50 (+2.04%)
GE   6.12 (-1.29%)
MU   50.71 (+1.99%)
AMD   81.77 (+2.88%)
T   28.30 (-0.28%)
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S&P 500   3,335.47 (-0.48%)
DOW   27,452.66 (-0.48%)
QQQ   275.95 (-0.45%)
AAPL   114.09 (-0.76%)
MSFT   207.26 (-1.04%)
FB   261.79 (+1.94%)
GOOGL   1,466.02 (+0.50%)
AMZN   3,144.88 (-0.92%)
TSLA   419.07 (-0.51%)
NVDA   529.03 (+1.46%)
BABA   276.93 (+0.33%)
CGC   14.50 (+2.04%)
GE   6.12 (-1.29%)
MU   50.71 (+1.99%)
AMD   81.77 (+2.88%)
T   28.30 (-0.28%)
F   6.60 (-1.35%)
ACB   4.68 (-2.09%)
GILD   62.10 (-1.19%)
NFLX   493.48 (+0.58%)
DIS   125.40 (-0.47%)
BA   163.60 (-1.49%)
BAC   23.77 (-1.33%)
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Short Interest in L Brands Inc (NYSE:LB) Drops By 19.1%

Last updated on Wednesday, September 16, 2020 | 2020 MarketBeat

L Brands Inc (NYSE:LB) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totalling 13,620,000 shares, a drop of 19.1% from the August 15th total of 16,830,000 shares. Based on an average daily volume of 6,410,000 shares, the days-to-cover ratio is currently 2.1 days. Approximately 5.9% of the shares of the stock are short sold.

NYSE:LB traded up $0.85 during trading hours on Wednesday, hitting $29.84. 3,768,638 shares of the company traded hands, compared to its average volume of 8,958,213. L Brands has a twelve month low of $8.00 and a twelve month high of $31.93. The firm has a 50-day moving average of $27.87 and a 200 day moving average of $18.21. The stock has a market capitalization of $8.29 billion, a price-to-earnings ratio of -10.43, a P/E/G ratio of 1.74 and a beta of 1.64.

L Brands (NYSE:LB) last released its earnings results on Wednesday, August 19th. The specialty retailer reported $0.25 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of ($0.42) by $0.67. L Brands had a negative net margin of 6.96% and a negative return on equity of 19.91%. The business had revenue of $2.32 billion during the quarter, compared to analysts' expectations of $2.17 billion. During the same quarter last year, the company earned $0.24 earnings per share. The firm's revenue was down 20.1% on a year-over-year basis. On average, analysts expect that L Brands will post 1.24 EPS for the current year.

A number of brokerages have recently issued reports on LB. Citigroup lowered L Brands from a "neutral" rating to a "sell" rating and boosted their target price for the stock from $15.00 to $17.00 in a research report on Thursday, July 30th. Bank of America upped their price objective on shares of L Brands from $25.00 to $30.00 and gave the company a "buy" rating in a research note on Wednesday, July 29th. Barclays lifted their target price on shares of L Brands from $25.00 to $31.00 and gave the stock an "equal weight" rating in a research report on Friday, August 21st. Wells Fargo & Company upped their price target on shares of L Brands from $35.00 to $40.00 and gave the company an "overweight" rating in a research report on Thursday, August 20th. Finally, TheStreet cut shares of L Brands from a "c-" rating to a "d" rating in a research report on Monday, June 22nd. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have given a buy rating to the stock. The company has an average rating of "Hold" and an average price target of $27.55.

In related news, insider James L. Bersani sold 28,373 shares of the firm's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $30.00, for a total transaction of $851,190.00. Following the completion of the transaction, the insider now owns 242,339 shares of the company's stock, valued at $7,270,170. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 17.83% of the company's stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Harvest Fund Management Co. Ltd bought a new position in L Brands during the first quarter worth about $32,000. Captrust Financial Advisors acquired a new stake in L Brands in the 2nd quarter valued at $58,000. Rockefeller Capital Management L.P. grew its position in L Brands by 610.3% in the second quarter. Rockefeller Capital Management L.P. now owns 4,695 shares of the specialty retailer's stock valued at $70,000 after acquiring an additional 4,034 shares during the period. Rampart Investment Management Company LLC raised its stake in L Brands by 128.1% during the second quarter. Rampart Investment Management Company LLC now owns 5,084 shares of the specialty retailer's stock worth $76,000 after acquiring an additional 2,855 shares in the last quarter. Finally, Wexford Capital LP bought a new position in shares of L Brands during the second quarter valued at $108,000. Institutional investors and hedge funds own 76.89% of the company's stock.

L Brands Company Profile

L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, beauty and personal care products, home fragrance products, and accessories. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International.

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6 Stocks That May Not Survive the Coronavirus

Companies that are in a shaky financial position may sometimes attract investors in a bull market. Traders seeking a short-term profit can often use an oversold condition to capture a quick gain. But in a bear market, these companies frequently are left on the sidelines.

But a declining stock price by itself should not be enough to scare investors off. What investors really need to pay attention to is the company’s ability to finance existing debt or take on additional debt. Companies with low credit ratings face the problem of having too much debt on their books and an inability to finance it at more favorable rates.

That’s one reason we’ve put together this presentation that highlights 6 companies that may not survive the coronavirus. These companies have low stock prices. In fact, many of them are, or will be, in danger of being delisted if they cannot bring their stock above the $1 threshold. And on top of that, these companies each carry credit ratings of CCC+ or lower and are at risk of seeing those ratings even go lower.

Each of the companies presented here are considered to be among the weakest, if not the weakest, in their sector. If you have any of these falling knives in your portfolio now is the time to cut your losses and walk away.

View the "6 Stocks That May Not Survive the Coronavirus".

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