Lakeland Industries, Inc. (NASDAQ:LAKE) Short Interest Update

by · The Markets Daily

Lakeland Industries, Inc. (NASDAQ:LAKE – Get Free Report) was the recipient of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 149,300 shares, a decrease of 29.7% from the February 13th total of 212,400 shares. Based on an average daily volume of 84,600 shares, the days-to-cover ratio is currently 1.8 days. Approximately 1.6% of the company’s stock are short sold.

Analyst Ratings Changes

Several analysts recently commented on LAKE shares. Lake Street Capital started coverage on Lakeland Industries in a report on Tuesday, March 11th. They set a “buy” rating and a $30.00 target price on the stock. Roth Mkm increased their price target on Lakeland Industries from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th.

Check Out Our Latest Research Report on LAKE

Insider Buying and Selling

In other Lakeland Industries news, CEO James M. Jenkins bought 990 shares of Lakeland Industries stock in a transaction that occurred on Monday, December 30th. The shares were bought at an average cost of $25.35 per share, with a total value of $25,096.50. Following the transaction, the chief executive officer now directly owns 990 shares of the company’s stock, valued at approximately $25,096.50. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Laurel A. Yartz bought 2,272 shares of Lakeland Industries stock in a transaction that occurred on Wednesday, January 22nd. The shares were acquired at an average cost of $22.00 per share, for a total transaction of $49,984.00. Following the completion of the transaction, the insider now directly owns 9,772 shares in the company, valued at $214,984. This represents a 30.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 11,208 shares of company stock worth $253,520 in the last three months. 4.20% of the stock is owned by insiders.

Institutional Trading of Lakeland Industries

Several large investors have recently added to or reduced their stakes in LAKE. Delta Investment Management LLC purchased a new position in shares of Lakeland Industries during the 4th quarter worth $445,000. Private Capital Management LLC lifted its stake in Lakeland Industries by 0.4% during the 4th quarter. Private Capital Management LLC now owns 1,007,391 shares of the medical instruments supplier’s stock worth $25,739,000 after acquiring an additional 4,092 shares in the last quarter. Millennium Management LLC raised its position in Lakeland Industries by 166.1% in the 4th quarter. Millennium Management LLC now owns 27,783 shares of the medical instruments supplier’s stock valued at $710,000 after purchasing an additional 17,344 shares in the last quarter. Expect Equity LLC acquired a new stake in Lakeland Industries in the 4th quarter valued at about $1,809,000. Finally, Bank of America Corp DE increased its holdings in shares of Lakeland Industries by 114.1% in the 4th quarter. Bank of America Corp DE now owns 7,657 shares of the medical instruments supplier’s stock valued at $196,000 after acquiring an additional 4,081 shares during the last quarter. 71.69% of the stock is currently owned by hedge funds and other institutional investors.

Lakeland Industries Price Performance

Shares of NASDAQ LAKE traded down $0.10 during midday trading on Tuesday, hitting $19.84. The stock had a trading volume of 38,561 shares, compared to its average volume of 53,912. The stock has a 50 day simple moving average of $23.57 and a 200-day simple moving average of $22.20. The company has a market capitalization of $188.41 million, a PE ratio of -220.28 and a beta of 0.96. The company has a quick ratio of 1.77, a current ratio of 4.23 and a debt-to-equity ratio of 0.25. Lakeland Industries has a 1 year low of $15.10 and a 1 year high of $27.28.

Lakeland Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Monday, February 17th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend was Friday, February 14th. Lakeland Industries’s payout ratio is currently -133.33%.

Lakeland Industries Company Profile

(Get Free Report)

Lakeland Industries, Inc manufactures and sells industrial protective clothing and accessories for the industrial and public protective clothing market worldwide. It offers firefighting and heat protective apparel to protect against fire; high-end chemical protective suits to provide protection from highly concentrated, toxic and/or lethal chemicals, and biological toxins; and limited use/disposable protective clothing, such as coveralls, laboratory coats, shirts, pants, hoods, aprons, sleeves, arm guards, caps, and smocks.

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