LM Funding America, Inc. (NASDAQ:LMFA) Sees Significant Drop in Short Interest
by Mitch Edgeman · The Markets DailyLM Funding America, Inc. (NASDAQ:LMFA – Get Free Report) was the recipient of a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 212,191 shares, a decline of 52.9% from the May 14th total of 450,080 shares. Currently, 1.4% of the company’s shares are short sold. Based on an average daily volume of 703,053 shares, the days-to-cover ratio is presently 0.3 days.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings restated a “sell (e+)” rating on shares of LM Funding America in a research report on Friday, March 27th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.00.
Check Out Our Latest Report on LMFA
Insiders Place Their Bets
In other news, CFO Richard D. Russell acquired 131,600 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was purchased at an average cost of $0.22 per share, with a total value of $28,952.00. Following the acquisition, the chief financial officer owned 244,147 shares of the company’s stock, valued at $53,712.34. This trade represents a 116.93% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 15.03% of the company’s stock.
Hedge Funds Weigh In On LM Funding America
A number of large investors have recently bought and sold shares of LMFA. XTX Topco Ltd acquired a new position in LM Funding America during the 2nd quarter worth approximately $54,000. Jane Street Group LLC raised its stake in shares of LM Funding America by 782.6% during the 4th quarter. Jane Street Group LLC now owns 124,390 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 110,297 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of LM Funding America during the 3rd quarter worth approximately $70,000. Two Sigma Investments LP bought a new stake in shares of LM Funding America during the 3rd quarter worth approximately $100,000. Finally, Citadel Advisors LLC bought a new stake in shares of LM Funding America during the 3rd quarter worth approximately $139,000. Institutional investors and hedge funds own 22.73% of the company’s stock.
LM Funding America Stock Down 1.0%
Shares of LMFA traded down $0.00 on Monday, hitting $0.21. The company’s stock had a trading volume of 660,841 shares, compared to its average volume of 500,598. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.10. The firm’s fifty day moving average price is $0.25 and its 200-day moving average price is $0.40. LM Funding America has a fifty-two week low of $0.18 and a fifty-two week high of $5.14. The firm has a market capitalization of $3.58 million, a price-to-earnings ratio of -0.09 and a beta of 2.34.
LM Funding America (NASDAQ:LMFA – Get Free Report) last released its quarterly earnings results on Friday, May 15th. The financial services provider reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.16). LM Funding America had a negative return on equity of 102.63% and a negative net margin of 368.68%.The firm had revenue of $2.11 million for the quarter, compared to analyst estimates of $3.00 million.
About LM Funding America
LM Funding America, Inc, headquartered in Miami, Florida, is a specialty finance company that provides retail installment contracts to subprime borrowers. The company originates, acquires, and manages motor vehicle retail financing through a network of franchised and independent automobile dealerships across the United States. LM Funding America holds and services its loan portfolio through its wholly owned subsidiary, LM Funding America Service Corp., and offers floorplan financing to new and used vehicle dealers through LM Funding Floorplan LLC.
Established in 2013, LM Funding America completed its initial public offering on the Nasdaq Stock Market in 2015, enabling the company to expand its lending operations and geographic presence.