Lifetime Brands, Inc. (NASDAQ:LCUT) Short Interest Up 10.3% in September

Lifetime Brands, Inc. (NASDAQ:LCUT) was the target of a large growth in short interest in September. As of September 30th, there was short interest totalling 321,600 shares, a growth of 10.3% from the September 15th total of 291,600 shares. Approximately 2.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 58,700 shares, the days-to-cover ratio is presently 5.5 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of LCUT. Mackenzie Financial Corp purchased a new position in shares of Lifetime Brands during the second quarter worth about $87,000. Rhumbline Advisers lifted its position in Lifetime Brands by 579.0% in the 2nd quarter. Rhumbline Advisers now owns 13,173 shares of the company’s stock worth $113,000 after buying an additional 11,233 shares during the last quarter. Squarepoint Ops LLC lifted its position in Lifetime Brands by 28.5% in the 2nd quarter. Squarepoint Ops LLC now owns 20,621 shares of the company’s stock worth $177,000 after buying an additional 4,575 shares during the last quarter. Heron Bay Capital Management lifted its position in Lifetime Brands by 81.1% in the 1st quarter. Heron Bay Capital Management now owns 18,690 shares of the company’s stock worth $196,000 after buying an additional 8,369 shares during the last quarter. Finally, Chemistry Wealth Management LLC bought a new stake in Lifetime Brands in the 1st quarter worth approximately $235,000. Hedge funds and other institutional investors own 40.62% of the company’s stock.

Analyst Ratings Changes

LCUT has been the subject of a number of recent analyst reports. DA Davidson lifted their target price on Lifetime Brands from $13.50 to $14.00 and gave the company a “buy” rating in a report on Monday, August 12th. StockNews.com lowered Lifetime Brands from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 6th.

Lifetime Brands Stock Up 3.5 %

Shares of NASDAQ LCUT opened at $6.56 on Thursday. Lifetime Brands has a 12 month low of $4.96 and a 12 month high of $11.68. The company has a current ratio of 2.35, a quick ratio of 0.92 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $144.80 million, a price-to-earnings ratio of -24.30, a PEG ratio of 0.63 and a beta of 1.25. The business has a 50-day moving average of $6.74 and a 200-day moving average of $8.48.

Lifetime Brands (NASDAQ:LCUT) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Lifetime Brands had a positive return on equity of 4.51% and a negative net margin of 2.58%. The business had revenue of $141.67 million for the quarter, compared to analysts’ expectations of $41.90 million. During the same period in the previous year, the firm posted ($0.02) EPS. Sell-side analysts expect that Lifetime Brands will post 0.7 earnings per share for the current fiscal year.

Lifetime Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a dividend of $0.043 per share. This represents a $0.17 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Friday, November 1st. Lifetime Brands’s payout ratio is -62.96%.

About Lifetime Brands

Lifetime Brands, Inc designs, sources, and sells branded kitchenware, tableware, and other products for use in the home in the worldwide. The company provides kitchenware products, including kitchen tools and gadgets, cutlery, kitchen scales, thermometers, cutting boards, shears, cookware, pantryware, spice racks, and bakeware; and tableware products comprising dinnerware, stemware, flatware, and giftware.