Shares of Lumber Liquidators Holdings Inc (NYSE:LL) have suddenly spiked in late afternoon trading after Charles Gasparino from FOX Business Network tweeted that the company may be putting themselves up for sale.
“#BreakingNews as $LL shares tank co insiders pressing bullish case w investors; raising possible sale to PE firm 340pm EDT @FoxBusiness,” his tweet stated.
Shares of Lumber Liquidators Holdings Inc (NYSE:LL) are down significantly over the last three trading days. On Wednesday, December 16th shares were trading as high as $18.80. While there is no evidense that we can find Lumber Liquidators is currently in discussions with any firm about a possible acquisition, Gasparino’s tweet does at least make a little bit of sense. The stock has dropped 2.97% or $0.5 trading at $16.18, despite this positive news. About 2.23M shares traded hands or 28.16% up from the average. LL has declined 35.99% since May 18, 2015 and is downtrending. It has underperformed the S&P500 by 33.73%.
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 -13.47% below today’s ($16.18) 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 2015Q2. The ratio improved, as 27 funds sold all their Lumber Liquidators Holdings Inc shares they owned while 44 reduced their positions. 23 funds bought stakes while 50 increased their total positions. Institutions now own 20.84 million shares which is 3.70% less than the previous share count of 21.64 million in 2015Q2.
Prentice Capital Management Lp holds 3.31% of its total portfolio in Lumber Liquidators Holdings Inc, equating to 64,942 shares. Mak Capital One Llc owns 269,925 shares representing 3% of their total US portfolio. Moreover, Springowl Associates Llc has 2.71% of their total portfolio invested in the company, equating to 58,000 shares. The New York-based Gagnon Advisors Llc has a total of 1.59% of their portfolio invested in the stock. Euclidean Technologies Management Llc, a New York-based fund reported 106,902 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 $463.71 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.