Land Securities Group PLC (OTCMKTS:LSGOF) Shares Shorted: Short Interest Down 89.5% in October

Key Points

• Short interest plunged 89.5% to 365,553 shares as of October 15, down from 3.49 million shares at the end of September. Short interest represented 0.0% of shares outstanding, though the low average trading volume produced a 199-day short-interest ratio.
• Land Securities Group shares were flat at $8.68, within a 12-month range of $7.04 to $9.72. The stock’s 50-day and 200-day moving averages were $8.90 and $8.70, respectively.
• Jefferies upgraded the stock from “moderate sell” to “hold.” Analyst coverage consists of one Strong Buy and one Hold rating, resulting in a consensus “Buy” rating.

Land Securities Group PLC (OTCMKTS:LSGOF - Get Free Report) saw a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 365,553 shares, a decline of 89.5% from the September 30th total of 3,492,141 shares. Currently, 0.0% of the company's shares are sold short. Based on an average daily trading volume, of 1,837 shares, the short-interest ratio is currently 199.0 days.

Land Securities Group Stock Performance

Shares of LSGOF remained flat at $8.68 during midday trading on Monday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.57. The company's 50-day moving average price is $8.90 and its two-hundred day moving average price is $8.70. Land Securities Group has a twelve month low of $7.04 and a twelve month high of $9.72.

Analysts Set New Price Targets

Separately, Jefferies Financial Group raised Land Securities Group from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy".

Land Securities Group Company Profile

Land Securities Group plc, commonly known as Landsec, is a United Kingdom-based real estate company that develops, owns and manages commercial property. Its portfolio includes offices, retail destinations, leisure facilities and mixed-use developments, with a particular focus on prominent locations in London and other major UK cities.

The company's activities span property investment, development, asset management and the operation of retail and leisure destinations. Landsec also develops urban neighborhoods that combine residential, commercial, retail and public spaces, with projects designed to support businesses, residents and visitors.

Established in 1944, Landsec has evolved into one of the UK's major property companies.

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