Lakeland Industries, Inc. (NASDAQ:LAKE) Sees Significant Increase in Short Interest

Lakeland Industries, Inc. (NASDAQ:LAKE) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 168,400 shares, an increase of 36.0% from the December 15th total of 123,800 shares. Approximately 2.4% of the shares of the company are sold short. Based on an average daily volume of 46,400 shares, the days-to-cover ratio is presently 3.6 days.

Lakeland Industries Stock Up 0.6 %

LAKE opened at $26.03 on Friday. The company has a market capitalization of $192.88 million, a P/E ratio of -289.22 and a beta of 0.60. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.23 and a quick ratio of 1.77. The firm’s fifty day moving average price is $23.28 and its two-hundred day moving average price is $22.26. Lakeland Industries has a fifty-two week low of $15.10 and a fifty-two week high of $26.64.

Lakeland Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 15th were paid a $0.03 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.12 dividend on an annualized basis and a yield of 0.46%. Lakeland Industries’s payout ratio is currently -133.33%.

Wall Street Analysts Forecast Growth

LAKE has been the topic of several research analyst reports. Roth Mkm raised their price target on shares of Lakeland Industries from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. StockNews.com downgraded Lakeland Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th.

Insider Activity

In other Lakeland Industries news, Director Nikki Hamblin purchased 2,220 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were bought at an average cost of $23.08 per share, with a total value of $51,237.60. Following the transaction, the director now directly owns 15,862 shares in the company, valued at approximately $366,094.96. This represents a 16.27 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO James M. Jenkins acquired 990 shares of Lakeland Industries stock in a transaction dated Monday, December 30th. The stock was acquired at an average cost of $25.35 per share, with a total value of $25,096.50. Following the completion of the transaction, the chief executive officer now directly owns 990 shares of the company’s stock, valued at $25,096.50. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LAKE. Renaissance Technologies LLC raised its holdings in shares of Lakeland Industries by 2.7% in the 2nd quarter. Renaissance Technologies LLC now owns 499,202 shares of the medical instruments supplier’s stock worth $11,452,000 after buying an additional 13,200 shares in the last quarter. High Falls Advisors Inc raised its stake in Lakeland Industries by 35.8% during the second quarter. High Falls Advisors Inc now owns 19,472 shares of the medical instruments supplier’s stock worth $447,000 after acquiring an additional 5,137 shares in the last quarter. Huntington National Bank bought a new position in shares of Lakeland Industries during the third quarter valued at $41,000. Royce & Associates LP boosted its stake in shares of Lakeland Industries by 2.5% in the 3rd quarter. Royce & Associates LP now owns 730,220 shares of the medical instruments supplier’s stock valued at $14,677,000 after purchasing an additional 17,579 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of Lakeland Industries by 4.6% in the 3rd quarter. Empowered Funds LLC now owns 12,129 shares of the medical instruments supplier’s stock valued at $244,000 after purchasing an additional 536 shares in the last quarter. Institutional investors own 71.69% of the company’s stock.

Lakeland Industries Company Profile

Lakeland Industries, Inc manufactures and sells industrial protective clothing and accessories for the industrial and public protective clothing market worldwide. It offers firefighting and heat protective apparel to protect against fire; high-end chemical protective suits to provide protection from highly concentrated, toxic and/or lethal chemicals, and biological toxins; and limited use/disposable protective clothing, such as coveralls, laboratory coats, shirts, pants, hoods, aprons, sleeves, arm guards, caps, and smocks.