Libbey Inc. (NYSEAMERICAN:LBY) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 1,640,998 shares, an increase of 3.2% from the October 31st total of 1,589,552 shares. Approximately 7.7% of the shares of the stock are short sold. Based on an average trading volume of 269,533 shares, the days-to-cover ratio is presently 6.1 days.
Shares of LBY traded down $0.02 during mid-day trading on Tuesday, reaching $6.91. The company’s stock had a trading volume of 167,500 shares, compared to its average volume of 220,032. Libbey has a 1 year low of $4.60 and a 1 year high of $11.54.
Libbey (NYSEAMERICAN:LBY) last released its earnings results on Tuesday, November 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.37). The firm had revenue of $191.56 million during the quarter.
LBY has been the subject of a number of research analyst reports. Dougherty & Co upgraded Libbey from a “neutral” rating to a “buy” rating and set a $12.00 target price for the company in a report on Wednesday, August 1st. Zacks Investment Research lowered Libbey from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 13th.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can lifted its holdings in shares of Libbey by 695.4% in the second quarter. Bank of Montreal Can now owns 22,406 shares of the company’s stock valued at $182,000 after purchasing an additional 19,589 shares in the last quarter. Boston Partners raised its holdings in shares of Libbey by 39.0% during the second quarter. Boston Partners now owns 1,089,391 shares of the company’s stock worth $8,856,000 after acquiring an additional 305,581 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Libbey by 10.3% during the second quarter. Renaissance Technologies LLC now owns 750,200 shares of the company’s stock worth $6,099,000 after acquiring an additional 70,100 shares in the last quarter. Frontier Capital Management Co. LLC raised its holdings in shares of Libbey by 7.5% during the third quarter. Frontier Capital Management Co. LLC now owns 2,026,079 shares of the company’s stock worth $17,728,000 after acquiring an additional 140,994 shares in the last quarter. Finally, Albion Financial Group UT raised its holdings in shares of Libbey by 33.8% during the second quarter. Albion Financial Group UT now owns 47,284 shares of the company’s stock worth $384,000 after acquiring an additional 11,940 shares in the last quarter.
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Libbey Inc designs, produces, and sells tableware and other products worldwide. It offers glass tableware products, including tumblers, stemware, mugs, bowls, vases, salt and pepper shakers, shot glasses, canisters, candleholders, and other items; storage ware; serve ware; bakeware; handmade glass tableware; and other components for original equipment manufacturers, such as blender jars and mixing bowls.
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