Legacy Reserves LP Unit (LGCY) Major Shareholder Baines Creek Capital, Llc Purchases 37,820 Shares

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Legacy Reserves LP Unit (NASDAQ:LGCY) major shareholder Baines Creek Capital, Llc bought 37,820 shares of Legacy Reserves LP Unit stock in a transaction dated Tuesday, September 4th. The shares were acquired at an average cost of $5.42 per share, with a total value of $204,984.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

  • On Thursday, September 6th, Baines Creek Capital, Llc acquired 84,988 shares of Legacy Reserves LP Unit stock. The stock was purchased at an average cost of $5.22 per share, with a total value of $443,637.36.
  • 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 cost 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 cost 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 cost 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 cost 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 cost 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 cost 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 cost 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 cost of $6.00 per share, with a total value of $444,456.00.
  • On Monday, June 18th, Baines Creek Capital, Llc acquired 214,693 shares of Legacy Reserves LP Unit stock. The stock was purchased at an average cost of $6.18 per share, with a total value of $1,326,802.74.

NASDAQ LGCY opened at $5.27 on Friday. Legacy Reserves LP Unit has a one year low of $1.07 and a one year high of $10.54. 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 (NASDAQ:LGCY) last posted its quarterly earnings data on Wednesday, August 1st. The oil and gas producer reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.17). The firm had revenue of $139.28 million during the quarter. Legacy Reserves LP Unit had a negative net margin of 8.74% and a negative return on equity of 1.87%.

LGCY has been the subject of several recent research reports. BidaskClub downgraded Legacy Reserves LP Unit from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 24th. ValuEngine raised Legacy Reserves LP Unit from a “hold” rating to a “buy” rating in a research note on Saturday, June 2nd. Finally, UBS Group raised Legacy Reserves LP Unit from a “sell” rating to a “neutral” rating in a research note on Monday, May 14th.

Large investors have recently modified their holdings of the business. AMP Capital Investors Ltd purchased a new stake in Legacy Reserves LP Unit in the 2nd quarter valued at $316,000. Citigroup Inc. grew its holdings in Legacy Reserves LP Unit by 1,701.5% in the 1st quarter. Citigroup Inc. now owns 77,823 shares of the oil and gas producer’s stock valued at $366,000 after buying an additional 73,503 shares in the last quarter. Navellier & Associates Inc purchased a new stake in Legacy Reserves LP Unit in the 2nd quarter valued at $653,000. Cavalier Investments LLC purchased a new stake in Legacy Reserves LP Unit in the 2nd quarter valued at $551,000. Finally, Raymond James & Associates grew its holdings in Legacy Reserves LP Unit by 33.1% in the 2nd quarter. Raymond James & Associates now owns 103,886 shares of the oil and gas producer’s stock valued at $717,000 after buying an additional 25,826 shares in the last quarter. Institutional investors own 21.28% of the company’s stock.

Legacy Reserves LP Unit Company Profile

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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