Walleye Capital LLC purchased a new position in Lifetime Brands, Inc. (NASDAQ:LCUT – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 52,043 shares of the company’s stock, valued at approximately $444,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Qube Research & Technologies Ltd bought a new position in Lifetime Brands in the second quarter worth approximately $88,000. Bank of America Corp DE lifted its holdings in Lifetime Brands by 39.0% during the first quarter. Bank of America Corp DE now owns 20,722 shares of the company’s stock worth $119,000 after buying an additional 5,809 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in Lifetime Brands during the 3rd quarter valued at $118,000. Jane Street Group LLC boosted its position in Lifetime Brands by 388.4% during the 4th quarter. Jane Street Group LLC now owns 51,795 shares of the company’s stock valued at $205,000 after acquiring an additional 41,191 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of Lifetime Brands by 7.3% in the 1st quarter. Empowered Funds LLC now owns 108,458 shares of the company’s stock valued at $535,000 after acquiring an additional 7,385 shares during the period. 40.62% of the stock is currently owned by institutional investors.
Lifetime Brands Price Performance
Shares of LCUT opened at $9.83 on Friday. The company has a 50 day moving average of $8.65 and a two-hundred day moving average of $6.65. The company has a quick ratio of 0.99, a current ratio of 2.11 and a debt-to-equity ratio of 0.51. Lifetime Brands, Inc. has a twelve month low of $2.90 and a twelve month high of $10.12. The company has a market cap of $225.98 million, a price-to-earnings ratio of 6.87, a price-to-earnings-growth ratio of 0.34 and a beta of 1.00.
Lifetime Brands Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be paid a dividend of $0.0425 per share. This represents a $0.17 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, October 30th. Lifetime Brands’s payout ratio is 11.89%.
Analysts Set New Price Targets
Several research firms have recently commented on LCUT. Wall Street Zen raised Lifetime Brands from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 17th. Canaccord Genuity Group raised their price objective on Lifetime Brands from $6.00 to $7.00 and gave the company a “hold” rating in a research report on Wednesday, July 22nd. Roth Capital reiterated a “buy” rating and issued a $12.00 target price on shares of Lifetime Brands in a research note on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lifetime Brands in a report on Monday, July 6th. Finally, Zacks Research raised shares of Lifetime Brands from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $9.50.
View Our Latest Stock Report on Lifetime Brands
Lifetime Brands Profile
Lifetime Brands, Inc, through its subsidiaries, designs, sources, manufactures and distributes a broad portfolio of consumer products for the home. Headquartered in Garden City, New York, the company operates three primary business segments—Kitchenware, Tabletop & Home Décor and Tools & Storage—providing solutions for food preparation, cooking, serving and storage under both proprietary and licensed brand names.
In the Kitchenware segment, Lifetime Brands offers cookware, bakeware, cutlery and small electric appliances under brands such as Farberware and Chef’sChoice.
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