Lumber Liquidators Holdings Inc (NYSE:LL) shares are up a staggering $3.64 or 25.89% in pre-market trading this morning on the public acknowledgment by Kase Capital Management founder Whitney Tilson that he has decided to cover his short position on the stock. Tilson stated that he has changed his position on the company following negative comments he had made in the past. While such a move by an analyst wouldn’t ordinarily cause a move this severe in a stock, this announcement may be causing a short squeeze, as Lumber Liquidators Holdings Inc (NYSE:LL) has been heavily shorted over the last six to eight months. The stock closed at $14.06 during the last trading session. It is down 47.14% since May 12, 2015 and is downtrending. It has underperformed the S&P500 by 43.47%.
From a total of 4 analysts covering Lumber Liquidators Holdings (NYSE:LL) stock, 1 rate it a “Buy”, 0 a “Sell”, and 3 a “Hold”. This means that 25% of the ratings are positive. The highest target price is $18 while the lowest target price is $12. The mean of all analyst targets is $14 which is -0.43% below today’s ($14.06) stock price. Lumber Liquidators Holdings was the topic of 5 analyst reports since August 6, 2015 according to the firm StockzIntelligence Inc. KeyBanc Capital Markets maintained shares on August 4 with a “Equal Weight” rating.
The institutional sentiment increased to 1.03 in Q2 2015. It’s up 0.06, from 0.97 in 2015Q1. The ratio is positive, as 53 funds sold all their Lumber Liquidators Holdings Inc shares they owned while 43 reduced their positions. 33 funds bought stakes while 60 increased their total positions. Institutions now own 21.64 million shares which is 8.62% less than the previous share count of 23.68 million in 2015Q1.
Teewinot Capital Advisers L.L.C. holds 2.47% of its total portfolio in Lumber Liquidators Holdings Inc, equating to 220,000 shares. Euclidean Technologies Management Llc owns 101,122 shares representing 1.97% of their total US portfolio. Moreover, Mcglinn Capital Management Inc has 1.03% of their total portfolio invested in the company, equating to 21,500 shares. The Texas-based Frigate Ventures Lp has a total of 0.97% of their portfolio invested in the stock. Gagnon Advisors Llc, a New York-based fund reported 64,921 shares owned.
Lumber Liquidators Holdings, Inc. is a retailer of hardwood flooring, and hardwood flooring enhancements and accessories in North America. The company has a market cap of $380.85 million. The Company’s product categories include Solid and Engineered Hardwood; Laminate; Bamboo, Cork and Vinyl Plank, and Moldings and Accessories. It currently has negative earnings. The Firm sells its products primarily to homeowners or to contractors on behalf of homeowners.