Lakeland Industries, Inc. (NASDAQ:LAKE) Short Interest Update

Lakeland Industries, Inc. (NASDAQ:LAKE) saw 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. Approximately 1.6% of the shares of the company are sold short. Based on an average daily volume of 84,600 shares, the days-to-cover ratio is currently 1.8 days.

Lakeland Industries Price Performance

LAKE stock traded down $0.10 during midday trading on Tuesday, hitting $19.84. 38,561 shares of the stock were exchanged, compared to its average volume of 53,912. The stock’s 50-day moving average price is $23.57 and its 200-day moving average price is $22.20. The stock has a market cap of $188.41 million, a price-to-earnings ratio of -220.28 and a beta of 0.96. Lakeland Industries has a fifty-two week low of $15.10 and a fifty-two week high of $27.28. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.77 and a current ratio of 4.23.

Lakeland Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Monday, February 17th were issued a dividend of $0.03 per share. The ex-dividend date 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%.

Analysts Set New Price Targets

Several analysts have recently commented on LAKE shares. Lake Street Capital started coverage on Lakeland Industries in a report on Tuesday, March 11th. They issued a “buy” rating and a $30.00 price target for the company. Roth Mkm raised their price target on Lakeland Industries from $27.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, December 17th.

Insider Buying and Selling at Lakeland Industries

In related news, Director Nikki Hamblin bought 1,590 shares of the stock in a transaction on Wednesday, January 22nd. The shares were bought at an average cost of $22.00 per share, for a total transaction of $34,980.00. Following the purchase, the director now owns 17,452 shares of the company’s stock, valued at $383,944. This trade represents a 10.02 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James M. Jenkins bought 990 shares of the stock in a transaction on Monday, December 30th. The stock was bought at an average price of $25.35 per share, for a total transaction of $25,096.50. Following the completion of the purchase, the chief executive officer now directly owns 990 shares in the company, valued at approximately $25,096.50. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 11,208 shares of company stock worth $253,520. 4.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lakeland Industries

Hedge funds and other institutional investors have recently bought and sold shares of the company. IFP Advisors Inc acquired a new position in shares of Lakeland Industries in the fourth quarter worth $36,000. Huntington National Bank acquired a new position in shares of Lakeland Industries in the third quarter worth about $41,000. Russell Investments Group Ltd. acquired a new position in shares of Lakeland Industries in the fourth quarter worth about $160,000. Bank of America Corp DE lifted its stake in shares of Lakeland Industries by 114.1% in the fourth quarter. Bank of America Corp DE now owns 7,657 shares of the medical instruments supplier’s stock worth $196,000 after acquiring an additional 4,081 shares in the last quarter. Finally, Metis Global Partners LLC acquired a new position in shares of Lakeland Industries in the fourth quarter worth about $207,000. 71.69% of the stock is owned by institutional investors and hedge funds.

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.