Libbey Inc. (NYSEAMERICAN:LBY) saw a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 2,820,015 shares, a growth of 0.3% from the April 30th total of 2,812,751 shares. Currently, 13.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 179,289 shares, the days-to-cover ratio is presently 15.7 days.
NYSEAMERICAN:LBY opened at $6.56 on Friday. Libbey has a 1-year low of $4.60 and a 1-year high of $10.30.
Libbey (NYSEAMERICAN:LBY) last released its earnings results on Tuesday, May 1st. The company reported ($0.13) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.13). Libbey had a negative return on equity of 290.54% and a negative net margin of 41.83%. The company had revenue of $181.91 million during the quarter. During the same quarter in the previous year, the firm earned ($0.30) EPS.
Separately, Zacks Investment Research downgraded Libbey from a “hold” rating to a “sell” rating in a research report on Thursday, April 12th.
A number of hedge funds have recently made changes to their positions in LBY. Alambic Investment Management L.P. bought a new stake in Libbey in the fourth quarter valued at approximately $159,000. Aperio Group LLC bought a new stake in Libbey in the fourth quarter valued at approximately $104,000. California Public Employees Retirement System lifted its position in Libbey by 17.0% in the fourth quarter. California Public Employees Retirement System now owns 145,880 shares of the company’s stock valued at $1,097,000 after purchasing an additional 21,154 shares during the last quarter. Wells Fargo & Company MN lifted its position in Libbey by 105.2% in the fourth quarter. Wells Fargo & Company MN now owns 56,789 shares of the company’s stock valued at $427,000 after purchasing an additional 29,116 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Libbey by 55.4% in the fourth quarter. Bank of New York Mellon Corp now owns 354,668 shares of the company’s stock valued at $2,666,000 after purchasing an additional 126,508 shares during the last quarter.
Libbey Company Profile
Libbey Inc designs, produces, and sells tableware and other products worldwide. It offers glass tableware products, including tumblers, stemware, mugs, bowls, vases, salt and pepper shakers, shot glasses, canisters, candleholders, and other items; storage ware; serve ware; bakeware; handmade glass tableware; and other components for original equipment manufacturers, such as blender jars and mixing bowls.
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