Southland (NASDAQ:SLND) Trading Down 2.9% - What's Next?

Key Points

• Shares fell 2.9% to $1.00 intraday (low $0.99) on about 117,664 shares, a 68% drop from average volume, and the stock sits below its 50‑day ($1.13) and 200‑day ($2.63) moving averages.
• Zacks downgraded SLND to a "strong sell", and MarketBeat shows an average rating of Reduce with a consensus price target of $4.00.
• COO Walter Timothy Winn bought 29,177 shares at ~$1.47, raising his holding to ~1.95M shares; insiders own 76.80% of the company while institutional ownership is only 2.85%.

Southland Holdings, Inc. (NASDAQ:SLND - Get Free Report) shares were down 2.9% during mid-day trading on Friday . The stock traded as low as $0.99 and last traded at $1.00. Approximately 117,664 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 371,265 shares. The stock had previously closed at $1.03.

Analyst Upgrades and Downgrades

Separately, Zacks Research cut shares of Southland from a "hold" rating to a "strong sell" rating in a report on Thursday, March 26th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Southland has an average rating of "Reduce" and a consensus price target of $4.00.

Southland Price Performance

The company has a 50 day simple moving average of $1.13 and a 200-day simple moving average of $2.63. The stock has a market cap of $54.11 million, a price-to-earnings ratio of -0.45 and a beta of 0.86. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.00.

Insider Transactions at Southland

In other Southland news, COO Walter Timothy Winn bought 29,177 shares of the company's stock in a transaction on Tuesday, March 31st. The shares were bought at an average cost of $1.47 per share, with a total value of $42,890.19. Following the completion of the acquisition, the chief operating officer owned 1,950,721 shares of the company's stock, valued at approximately $2,867,559.87. This trade represents a 1.52% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 76.80% of the stock is owned by insiders.

Institutional Trading of Southland

Institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in shares of Southland by 69.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 43,815 shares of the company's stock worth $145,000 after purchasing an additional 17,888 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Southland by 75.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 68,355 shares of the company's stock worth $227,000 after purchasing an additional 29,308 shares during the period. Geode Capital Management LLC raised its holdings in shares of Southland by 7.3% during the fourth quarter. Geode Capital Management LLC now owns 282,476 shares of the company's stock worth $938,000 after purchasing an additional 19,196 shares during the period. National Bank of Canada FI acquired a new stake in shares of Southland during the third quarter worth $515,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Southland during the third quarter worth $223,000. 2.85% of the stock is owned by institutional investors and hedge funds.

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. The Transportation segment designs and constructs bridges, roadways, marine, dredging, ship terminals and piers, and specialty structures and facilities, as well as convention centers, sports stadiums, marine facilities, and ferris wheels.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.