Southland (NASDAQ:SLND) Shares Down 0.9% - Here's Why

Key Points

• Southland Holdings, Inc. (NASDAQ: SLND) shares declined by 0.9%, trading between $4.31 and $4.49 with a significant drop in trading volume, down 53% from the average.
• The company has a market capitalization of $242.31 million, a current and quick ratio of 1.48, and a concerning debt-to-equity ratio of 2.00.
• Institutional investors own 2.85% of Southland, with notable recent activity including new positions and increased holdings from firms such as Nuveen LLC and Rhumbline Advisers.

Southland Holdings, Inc. (NASDAQ:SLND - Get Free Report)'s share price was down 0.9% during mid-day trading on Monday . The stock traded as low as $4.31 and last traded at $4.49. Approximately 19,714 shares changed hands during trading, a decline of 53% from the average daily volume of 42,346 shares. The stock had previously closed at $4.53.

Southland Price Performance

The company's 50 day moving average is $4.25 and its 200-day moving average is $3.63. The stock has a market cap of $231.78 million, a PE ratio of -1.93 and a beta of 0.94. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.00.

Hedge Funds Weigh In On Southland

Large investors have recently modified their holdings of the stock. Fifth Third Bancorp bought a new position in shares of Southland during the first quarter worth about $253,000. Northern Trust Corp lifted its position in shares of Southland by 31.5% during the fourth quarter. Northern Trust Corp now owns 98,454 shares of the company's stock worth $320,000 after purchasing an additional 23,565 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Southland during the fourth quarter worth about $40,000. Rhumbline Advisers lifted its position in shares of Southland by 49.3% during the first quarter. Rhumbline Advisers now owns 14,080 shares of the company's stock worth $42,000 after purchasing an additional 4,649 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Southland in the 4th quarter valued at about $4,157,000. Institutional investors own 2.85% of the company's stock.

Southland Company Profile

Southland Holdings, Inc engages in specialty infrastructure construction business in North America and internationally. The company operates through two segments, Civil and Transportation. The Civil segment designs and constructs water pipelines, pump stations, lift stations, water and wastewater treatment plants, concrete and structural steel, outfall, and tunneling.