Legacy Reserves LP Unit (LGCY) Major Shareholder Baines Creek Capital, Llc Purchases 84,988 Shares

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Legacy Reserves LP Unit (NASDAQ:LGCY) major shareholder Baines Creek Capital, Llc acquired 84,988 shares of Legacy Reserves LP Unit stock in a transaction dated Thursday, September 6th. The stock was purchased at an average price of $5.22 per share, with a total value of $443,637.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Baines Creek Capital, Llc also recently made the following trade(s):

  • On Tuesday, September 4th, Baines Creek Capital, Llc acquired 37,820 shares of Legacy Reserves LP Unit stock. The stock was purchased at an average price of $5.42 per share, with a total value of $204,984.40.
  • On Thursday, August 30th, Baines Creek Capital, Llc acquired 27,500 shares of Legacy Reserves LP Unit stock. The stock was purchased at an average price of $5.39 per share, with a total value of $148,225.00.
  • On Tuesday, August 28th, Baines Creek Capital, Llc acquired 60,676 shares of Legacy Reserves LP Unit stock. The stock was purchased at an average price of $5.29 per share, with a total value of $320,976.04.
  • On Thursday, August 23rd, Baines Creek Capital, Llc acquired 108,659 shares of Legacy Reserves LP Unit stock. The stock was purchased at an average price of $5.19 per share, with a total value of $563,940.21.
  • On Monday, August 20th, Baines Creek Capital, Llc acquired 59,995 shares of Legacy Reserves LP Unit stock. The stock was purchased at an average price of $4.82 per share, with a total value of $289,175.90.
  • On Thursday, August 16th, Baines Creek Capital, Llc acquired 119,099 shares of Legacy Reserves LP Unit stock. The stock was purchased at an average price of $4.51 per share, with a total value of $537,136.49.
  • On Friday, June 22nd, Baines Creek Capital, Llc acquired 59,949 shares of Legacy Reserves LP Unit stock. The stock was purchased at an average price of $6.88 per share, with a total value of $412,449.12.
  • On Wednesday, June 20th, Baines Creek Capital, Llc acquired 44,166 shares of Legacy Reserves LP Unit stock. The stock was purchased at an average price of $6.76 per share, with a total value of $298,562.16.
  • On Friday, June 15th, Baines Creek Capital, Llc acquired 74,076 shares of Legacy Reserves LP Unit stock. The stock was purchased at an average price of $6.00 per share, with a total value of $444,456.00.
  • On Monday, June 18th, Baines Creek Capital, Llc purchased 214,693 shares of Legacy Reserves LP Unit stock. The shares were bought at an average price of $6.18 per share, with a total value of $1,326,802.74.

LGCY stock traded down $0.29 during trading on Thursday, hitting $5.05. 262,100 shares of the company traded hands, compared to its average volume of 632,137. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of -1.63. Legacy Reserves LP Unit has a 1 year low of $1.07 and a 1 year high of $10.54.

Legacy Reserves LP Unit (NASDAQ:LGCY) last announced its quarterly earnings results on Wednesday, August 1st. The oil and gas producer reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.17). The company had revenue of $139.28 million for the quarter. Legacy Reserves LP Unit had a negative net margin of 8.74% and a negative return on equity of 1.87%.

Several research analysts recently weighed in on LGCY shares. BidaskClub cut Legacy Reserves LP Unit from a “buy” rating to a “hold” rating in a research report on Friday, June 1st. ValuEngine upgraded Legacy Reserves LP Unit from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd. Finally, UBS Group upgraded Legacy Reserves LP Unit from a “sell” rating to a “neutral” rating in a research report on Monday, May 14th.

Hedge funds have recently made changes to their positions in the stock. AMP Capital Investors Ltd purchased a new position in Legacy Reserves LP Unit during the second quarter valued at approximately $316,000. Citigroup Inc. raised its position in Legacy Reserves LP Unit by 1,701.5% during the first quarter. Citigroup Inc. now owns 77,823 shares of the oil and gas producer’s stock valued at $366,000 after acquiring an additional 73,503 shares in the last quarter. Navellier & Associates Inc purchased a new position in Legacy Reserves LP Unit during the second quarter valued at approximately $653,000. Cavalier Investments LLC purchased a new position in Legacy Reserves LP Unit during the second quarter valued at approximately $551,000. Finally, Raymond James & Associates raised its position in Legacy Reserves LP Unit by 33.1% during the second quarter. Raymond James & Associates now owns 103,886 shares of the oil and gas producer’s stock valued at $717,000 after acquiring an additional 25,826 shares in the last quarter. Institutional investors own 21.28% of the company’s stock.

About Legacy Reserves LP Unit

Legacy Reserves LP acquires and develops oil and natural gas properties primarily in the Permian Basin, East Texas, Rocky Mountain, and Mid-Continent regions of the United States. As of December 31, 2017, the company owned interests in producing oil and natural gas properties in 606 fields comprising 10,492 gross productive wells, including 3,497 operated and 6,995 non-operated wells located in the Permian Basin, East Texas, Piceance Basin of Colorado, Texas Panhandle, Wyoming, North Dakota, Montana, Oklahoma, and other states.

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