Lifetime Brands, Inc. (NASDAQ:LCUT) Sees Large Increase in Short Interest

Lifetime Brands, Inc. (NASDAQ:LCUT) was the target of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 329,500 shares, a growth of 15.5% from the January 15th total of 285,200 shares. Approximately 2.8% of the company’s stock are short sold. Based on an average daily volume of 56,300 shares, the short-interest ratio is currently 5.9 days.

Institutional Investors Weigh In On Lifetime Brands

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jane Street Group LLC bought a new position in shares of Lifetime Brands in the third quarter worth $67,000. Geode Capital Management LLC increased its holdings in shares of Lifetime Brands by 3.9% in the third quarter. Geode Capital Management LLC now owns 294,291 shares of the company’s stock worth $1,925,000 after purchasing an additional 11,118 shares during the period. Barclays PLC increased its holdings in shares of Lifetime Brands by 38.7% in the third quarter. Barclays PLC now owns 19,016 shares of the company’s stock worth $124,000 after purchasing an additional 5,302 shares during the period. JB Capital Partners LP increased its holdings in shares of Lifetime Brands by 13.0% in the third quarter. JB Capital Partners LP now owns 940,814 shares of the company’s stock worth $6,106,000 after purchasing an additional 108,193 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in shares of Lifetime Brands by 657.8% in the third quarter. BNP Paribas Financial Markets now owns 18,096 shares of the company’s stock worth $118,000 after purchasing an additional 15,708 shares during the period. Institutional investors own 40.62% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on LCUT shares. DA Davidson downgraded Lifetime Brands from a “buy” rating to a “neutral” rating and cut their price target for the company from $11.50 to $6.75 in a research note on Monday, February 3rd. StockNews.com downgraded Lifetime Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th.

Lifetime Brands Stock Performance

LCUT stock traded down $0.06 during midday trading on Monday, reaching $5.20. 32,557 shares of the company’s stock traded hands, compared to its average volume of 49,312. The company has a 50-day moving average price of $5.84 and a two-hundred day moving average price of $6.24. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.97 and a current ratio of 2.36. Lifetime Brands has a 52 week low of $4.86 and a 52 week high of $11.68. The firm has a market capitalization of $115.23 million, a PE ratio of -5.25, a price-to-earnings-growth ratio of 0.51 and a beta of 1.28.

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.