Green Square Capital LLC cut its stake in shares of Layne Christensen Co. (NASDAQ:LAYN) by 7.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 416,783 shares of the company’s stock after selling 32,400 shares during the period. Green Square Capital LLC owned approximately 2.10% of Layne Christensen worth $3,376,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. Renaissance Technologies LLC raised its position in shares of Layne Christensen by 32.7% in the first quarter. Renaissance Technologies LLC now owns 293,800 shares of the company’s stock valued at $2,112,000 after buying an additional 72,400 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Layne Christensen during the first quarter worth about $232,000. Finally, BlackRock Fund Advisors raised its position in shares of Layne Christensen by 6.6% in the first quarter. BlackRock Fund Advisors now owns 54,492 shares of the company’s stock worth $392,000 after buying an additional 3,355 shares during the period. Institutional investors own 93.52% of the company’s stock.
Shares of Layne Christensen Co. (NASDAQ:LAYN) traded down 0.61% during midday trading on Wednesday, hitting $8.17. The company had a trading volume of 131,334 shares. The stock’s 50-day moving average price is $8.76 and its 200-day moving average price is $8.16. Layne Christensen Co. has a 12 month low of $3.75 and a 12 month high of $9.56. The company’s market cap is $161.81 million.
Layne Christensen (NASDAQ:LAYN) last announced its earnings results on Tuesday, September 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.20) by $0.06. Layne Christensen had a negative net margin of 5.25% and a negative return on equity of 23.75%. The business earned $159.05 million during the quarter, compared to analyst estimates of $164.19 million. During the same period in the previous year, the company earned ($1.19) earnings per share. The business’s revenue for the quarter was down 9.8% on a year-over-year basis. On average, equities research analysts forecast that Layne Christensen Co. will post ($1.00) EPS for the current year.
LAYN has been the topic of a number of research reports. Jefferies Group restated a “hold” rating on shares of Layne Christensen in a research report on Wednesday, June 8th. Zacks Investment Research upgraded shares of Layne Christensen from a “sell” rating to a “hold” rating in a research report on Wednesday, June 15th. TheStreet upgraded shares of Layne Christensen from a “sell” rating to a “hold” rating in a research report on Wednesday, September 7th. Finally, DA Davidson set a $9.00 target price on shares of Layne Christensen and gave the stock a “hold” rating in a research report on Sunday, September 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $8.60.
About Layne Christensen
Layne Christensen Company (Layne) is a water management, construction and drilling company. The Company provides drilling solutions for water management, mineral services and specialty drilling needs. The Company operates through four segments: Water Resources, Inliner, Heavy Civil and Mineral Services.
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