Limbach Holdings, Inc. (NASDAQ:LMB) Short Interest Up 18.5% in March

Limbach Holdings, Inc. (NASDAQ:LMB - Get Free Report) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 652,900 shares, an increase of 18.5% from the March 15th total of 550,800 shares. Currently, 6.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 215,800 shares, the days-to-cover ratio is currently 3.0 days.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on LMB shares. Stifel Nicolaus set a $103.00 price objective on Limbach in a research note on Wednesday, March 12th. Lake Street Capital raised their price target on shares of Limbach from $100.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, February 4th.

Limbach Stock Down 0.6 %

NASDAQ LMB traded down $0.59 during trading on Friday, reaching $92.76. 151,986 shares of the company's stock were exchanged, compared to its average volume of 173,640. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 1.57. Limbach has a 1 year low of $43.78 and a 1 year high of $107.00. The company has a 50 day moving average price of $79.24 and a two-hundred day moving average price of $87.41. The stock has a market cap of $1.05 billion, a P/E ratio of 42.16, a price-to-earnings-growth ratio of 2.22 and a beta of 1.01.

Limbach (NASDAQ:LMB - Get Free Report) last announced its quarterly earnings data on Monday, March 10th. The construction company reported $1.15 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.31. The company had revenue of $143.70 million during the quarter, compared to the consensus estimate of $149.37 million. Limbach had a net margin of 5.08% and a return on equity of 20.16%. Limbach's quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 EPS. On average, equities research analysts anticipate that Limbach will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Joshua Horowitz sold 25,400 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $75.43, for a total transaction of $1,915,922.00. Following the sale, the director now owns 164,600 shares of the company's stock, valued at $12,415,778. The trade was a 13.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 10.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Limbach

A number of hedge funds have recently made changes to their positions in LMB. Allspring Global Investments Holdings LLC increased its holdings in Limbach by 10.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 33,009 shares of the construction company's stock valued at $2,483,000 after buying an additional 3,034 shares during the last quarter. Bessemer Group Inc. acquired a new stake in shares of Limbach during the first quarter worth $11,705,000. Moran Wealth Management LLC purchased a new stake in shares of Limbach in the first quarter valued at $510,000. Legacy Advisors LLC acquired a new position in shares of Limbach in the 1st quarter valued at about $30,000. Finally, Brendel Financial Advisors LLC lifted its position in Limbach by 8.9% in the 1st quarter. Brendel Financial Advisors LLC now owns 3,120 shares of the construction company's stock worth $232,000 after buying an additional 256 shares in the last quarter. Institutional investors and hedge funds own 55.85% of the company's stock.

About Limbach

Limbach Holdings, Inc operates as a building systems solution company in the United States. It operates through two segments, General Contractor Relationships and Owner Direct Relationships. The company engages in the construction and renovation projects that involve primarily include mechanical, plumbing, and electrical services.