Short Interest in Lakeland Industries, Inc. (NASDAQ:LAKE) Drops By 29.7%

Lakeland Industries, Inc. (NASDAQ:LAKE) was the target of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 149,300 shares, a drop of 29.7% from the February 13th total of 212,400 shares. Currently, 1.6% of the company’s shares are short sold. Based on an average daily trading volume, of 84,600 shares, the short-interest ratio is presently 1.8 days.

Insider Transactions at Lakeland Industries

In related news, Director Nikki Hamblin bought 2,220 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were bought at an average price of $23.08 per share, with a total value of $51,237.60. Following the completion of the transaction, the director now directly owns 15,862 shares of the company’s stock, valued at $366,094.96. This represents a 16.27 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO An Hui purchased 2,000 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were bought at an average price of $22.00 per share, with a total value of $44,000.00. Following the completion of the transaction, the chief operating officer now owns 53,912 shares of the company’s stock, valued at approximately $1,186,064. The trade was a 3.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 11,208 shares of company stock worth $253,520 in the last 90 days. Insiders own 4.20% of the company’s stock.

Institutional Trading of Lakeland Industries

Large investors have recently modified their holdings of the stock. IFP Advisors Inc purchased a new position in Lakeland Industries in the fourth quarter valued at $36,000. Huntington National Bank acquired a new stake in Lakeland Industries in the 3rd quarter valued at about $41,000. Russell Investments Group Ltd. purchased a new position in shares of Lakeland Industries in the 4th quarter valued at about $160,000. Bank of America Corp DE grew its position in shares of Lakeland Industries by 114.1% during the fourth quarter. Bank of America Corp DE now owns 7,657 shares of the medical instruments supplier’s stock worth $196,000 after buying an additional 4,081 shares in the last quarter. Finally, Metis Global Partners LLC purchased a new stake in shares of Lakeland Industries during the fourth quarter worth approximately $207,000. Hedge funds and other institutional investors own 71.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Roth Mkm increased their price objective 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. Lake Street Capital initiated coverage on Lakeland Industries in a research report on Tuesday, March 11th. They set a “buy” rating and a $30.00 price target for the company.

Lakeland Industries Stock Up 1.0 %

Shares of NASDAQ LAKE traded up $0.19 during midday trading on Friday, hitting $20.10. The company’s stock had a trading volume of 45,659 shares, compared to its average volume of 53,874. 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 has a market capitalization of $190.93 million, a price-to-earnings ratio of -223.33 and a beta of 0.96. The business’s fifty day simple moving average is $23.69 and its two-hundred day simple moving average is $22.24. Lakeland Industries has a 1 year low of $15.10 and a 1 year high of $27.28.

Lakeland Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Monday, February 17th were given a $0.03 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.12 annualized dividend and a yield of 0.60%. Lakeland Industries’s dividend payout ratio is presently -133.33%.

About Lakeland Industries

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.