Short Interest in Libbey, Inc. (LBY) Increases By 25.8%

Libbey, Inc. (NYSEAMERICAN:LBY) saw a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 2,260,077 shares, a growth of 25.8% from the February 15th total of 1,796,535 shares. Based on an average trading volume of 360,579 shares, the short-interest ratio is presently 6.3 days. Currently, 10.9% of the company’s shares are short sold.

Several institutional investors and hedge funds have recently added to or reduced their stakes in LBY. Aperio Group LLC acquired a new stake in shares of Libbey in the fourth quarter valued at $104,000. Alambic Investment Management L.P. acquired a new stake in shares of Libbey in the fourth quarter valued at $159,000. Virtu Financial LLC acquired a new stake in shares of Libbey in the fourth quarter valued at $163,000. Investors Research Corp acquired a new stake in shares of Libbey in the fourth quarter valued at $171,000. Finally, Macquarie Group Ltd. raised its stake in shares of Libbey by 79.3% in the fourth quarter. Macquarie Group Ltd. now owns 24,637 shares of the company’s stock valued at $185,000 after acquiring an additional 10,900 shares in the last quarter.

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Shares of LBY traded down $0.52 during midday trading on Monday, hitting $4.89. 786,500 shares of the stock were exchanged, compared to its average volume of 209,462. Libbey has a 52-week low of $4.87 and a 52-week high of $14.79.

Libbey (NYSEAMERICAN:LBY) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.29 by ($0.31). Libbey had a negative return on equity of 290.54% and a negative net margin of 41.83%. The firm had revenue of $224.83 million for the quarter, compared to analysts’ expectations of $212.74 million. During the same quarter in the prior year, the business earned ($0.10) earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis.

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 13th. Stockholders of record on Wednesday, February 28th were given a dividend of $0.1175 per share. This is a positive change from Libbey’s previous quarterly dividend of $0.12. This represents a $0.47 annualized dividend and a dividend yield of 9.61%. The ex-dividend date of this dividend was Tuesday, February 27th.

Separately, Zacks Investment Research upgraded Libbey from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 3rd.

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Libbey Company Profile

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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