Limbach Holdings Inc (NASDAQ:LMB) shares rose 5.2% during mid-day trading on Friday . The stock traded as high as $5.20 and last traded at $5.09, approximately 242,559 shares changed hands during trading. An increase of 244% from the average daily volume of 70,485 shares. The stock had previously closed at $4.84.
LMB has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of Limbach from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. TheStreet raised shares of Limbach from a “d+” rating to a “c” rating in a report on Wednesday, May 29th.
The stock’s 50-day moving average price is $8.53 and its 200 day moving average price is $7.84. The firm has a market capitalization of $64.20 million, a price-to-earnings ratio of -9.79, a PEG ratio of 0.49 and a beta of 1.48. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.70.
In other news, insider 1347 Investors Llc sold 545,785 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $10.63, for a total value of $5,801,694.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 1,104,547 shares of company stock valued at $11,244,790 over the last quarter. Company insiders own 41.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of LMB. Advisor Group Inc. increased its position in Limbach by 438.4% during the second quarter. Advisor Group Inc. now owns 2,886 shares of the construction company’s stock worth $26,000 after purchasing an additional 2,350 shares during the last quarter. JPMorgan Chase & Co. increased its position in Limbach by 690.0% during the second quarter. JPMorgan Chase & Co. now owns 7,900 shares of the construction company’s stock worth $65,000 after purchasing an additional 6,900 shares during the last quarter. BlackRock Inc. increased its position in Limbach by 70.0% during the fourth quarter. BlackRock Inc. now owns 22,989 shares of the construction company’s stock worth $85,000 after purchasing an additional 9,470 shares during the last quarter. Bailard Inc. acquired a new stake in Limbach during the second quarter worth about $194,000. Finally, Marshall Wace LLP acquired a new stake in Limbach during the second quarter worth about $261,000. Institutional investors and hedge funds own 27.69% of the company’s stock.
Limbach Company Profile (NASDAQ:LMB)
Limbach Holdings, Inc provides commercial specialty contract services in the United States. It operates in two segments, Construction and Service. The company provides services in the areas of heating, ventilation, air-conditioning (HVAC), plumbing, electrical, and building controls for the design and construction of new and renovated buildings; maintenance services; and equipment upgrades.
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