LGL Group, Inc. (The) (NYSEAMERICAN:LGL) Shares Shorted: Short Interest Up 51.9% in September

by · The Markets Daily

LGL Group, Inc. (The) (NYSEAMERICAN:LGL – Get Free Report) was the target of a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 22,658 shares, an increase of 51.9% from the August 31st total of 14,915 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average daily trading volume, of 21,616 shares, the days-to-cover ratio is currently 1.0 days.

Institutional Investors Weigh In On LGL Group

Several institutional investors have recently added to or reduced their stakes in LGL. Bard Associates Inc. purchased a new stake in shares of LGL Group during the second quarter worth about $3,378,000. BlackRock Inc. acquired a new position in shares of LGL Group during the second quarter valued at about $93,000. Cable Car Capital LP purchased a new position in shares of LGL Group in the 2nd quarter valued at approximately $346,000. Renaissance Technologies LLC raised its position in shares of LGL Group by 3.6% in the 1st quarter. Renaissance Technologies LLC now owns 166,594 shares of the industrial products company’s stock valued at $1,158,000 after purchasing an additional 5,773 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its stake in LGL Group by 2.8% in the 1st quarter. Gamco Investors INC. ET AL now owns 670,781 shares of the industrial products company’s stock worth $4,662,000 after purchasing an additional 18,305 shares in the last quarter. Institutional investors and hedge funds own 30.28% of the company’s stock.

LGL Group Stock Up 0.1%

Shares of LGL opened at $6.87 on Thursday. The company has a 50 day moving average of $7.16 and a two-hundred day moving average of $7.06. The company has a market cap of $86.57 million, a price-to-earnings ratio of -171.65 and a beta of 0.32. LGL Group has a twelve month low of $5.45 and a twelve month high of $7.88.

LGL Group (NYSEAMERICAN:LGL – Get Free Report) last issued its quarterly earnings data on Friday, August 14th. The industrial products company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.07). The business had revenue of $0.75 million for the quarter, compared to analysts’ expectations of $0.80 million. LGL Group had a negative net margin of 5.04% and a negative return on equity of 0.51%. On average, sell-side analysts expect that LGL Group will post -0.04 EPS for the current year.

LGL Group Company Profile

(Get Free Report)

The LGL Group, Inc is a diversified industrial company whose principal operating activities have historically focused on electronic components and frequency-control products. Through its MtronPTI business, the company designs and manufactures products used to generate, control, filter and distribute precise timing and frequency signals.

Its product offerings include crystal oscillators, temperature-compensated and oven-controlled oscillators, voltage-controlled oscillators, crystal resonators, filters and related radio-frequency and microwave components.

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