Rangeley Capital LLC Takes $325,000 Position in Lifecore Biomedical, Inc. (NASDAQ:LFCR)

Rangeley Capital LLC acquired a new position in shares of Lifecore Biomedical, Inc. (NASDAQ:LFCR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 43,700 shares of the company’s stock, valued at approximately $325,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. ARS Investment Partners LLC acquired a new stake in shares of Lifecore Biomedical during the fourth quarter valued at about $74,000. Prudential Financial Inc. bought a new position in Lifecore Biomedical in the 4th quarter valued at approximately $95,000. Public Employees Retirement System of Ohio acquired a new stake in Lifecore Biomedical during the 3rd quarter worth approximately $119,000. Barclays PLC grew its holdings in Lifecore Biomedical by 301.7% during the 3rd quarter. Barclays PLC now owns 29,944 shares of the company’s stock worth $147,000 after acquiring an additional 22,489 shares during the last quarter. Finally, Lepercq Multi Asset Fund acquired a new position in Lifecore Biomedical in the 4th quarter valued at approximately $169,000. Institutional investors and hedge funds own 83.36% of the company’s stock.

Insider Transactions at Lifecore Biomedical

In other Lifecore Biomedical news, CEO Paul Josephs acquired 17,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were bought at an average cost of $5.74 per share, with a total value of $97,580.00. Following the purchase, the chief executive officer now directly owns 559,717 shares of the company’s stock, valued at $3,212,775.58. This trade represents a 3.13 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 32.20% of the stock is currently owned by corporate insiders.

Lifecore Biomedical Price Performance

Shares of LFCR opened at $7.20 on Thursday. The business has a 50-day moving average of $6.18 and a 200-day moving average of $6.24. The company has a debt-to-equity ratio of 9.21, a current ratio of 2.32 and a quick ratio of 1.21. The company has a market capitalization of $266.58 million, a price-to-earnings ratio of -12.86 and a beta of 0.96. Lifecore Biomedical, Inc. has a 1 year low of $3.68 and a 1 year high of $7.99.

Lifecore Biomedical (NASDAQ:LFCR) last issued its quarterly earnings results on Thursday, January 2nd. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.02. Lifecore Biomedical had a negative net margin of 12.52% and a negative return on equity of 315.23%. As a group, equities research analysts anticipate that Lifecore Biomedical, Inc. will post -0.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Stephens reiterated an “equal weight” rating and set a $6.00 price target on shares of Lifecore Biomedical in a report on Friday, January 3rd.

About Lifecore Biomedical

Lifecore Biomedical, Inc, together with its subsidiaries, operates as an integrated contract development and manufacturing organization in the United States and internationally. The company engages in the manufacturing of pharmaceutical-grade sodium hyaluronate (HA) in bulk form, as well as formulated and filled syringes and vials for injectable products used in treating a range of medical conditions and procedures.