Leucadia National Corp. (LUK) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Leucadia National Corp. (NYSE:LUK) from a hold rating to a buy rating in a research report report published on Wednesday. The brokerage currently has $21.00 price objective on the stock.
According to Zacks, “LEUCADIA NATL is a diversified financial services holding company principally engaged in personal and commercial lines of property and casualty insurance, life insurance, banking and lending and manufacturing. The Company concentrates on return on investment and cash flow to build long-term shareholder value, rather than emphasizing volume or market share. Additionally, the Company continuously evaluates the retention and disposition of its existing operations and investigates possible acquisitions of new businesses in order to maximize shareholder value. “
LUK has been the topic of a number of other reports. Oppenheimer Holdings Inc. reissued a buy rating and set a $22.00 price objective on shares of Leucadia National Corp. in a research report on Wednesday, June 22nd. TheStreet raised shares of Leucadia National Corp. from a sell rating to a hold rating in a research report on Wednesday, August 10th.
Shares of Leucadia National Corp. (NYSE:LUK) traded up 0.389% on Wednesday, reaching $19.375. 532,192 shares of the company traded hands. Leucadia National Corp. has a one year low of $14.27 and a one year high of $21.29. The stock’s 50 day moving average price is $18.94 and its 200-day moving average price is $17.71. The stock’s market capitalization is $6.98 billion.
Leucadia National Corp. (NYSE:LUK) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by $0.10. Leucadia National Corp. had a negative net margin of 2.95% and a negative return on equity of 2.61%. Equities analysts forecast that Leucadia National Corp. will post $0.13 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Monday, September 19th were issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Thursday, September 15th. Leucadia National Corp.’s dividend payout ratio (DPR) is presently -32.47%.
In other news, Chairman Joseph S. Steinberg sold 200,000 shares of the business’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $19.04, for a total transaction of $3,808,000.00. Following the sale, the chairman now owns 1,992,687 shares in the company, valued at approximately $37,940,760.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder National Corp Leucadia bought 80,000 shares of the company’s stock in a transaction dated Monday, October 3rd. The shares were acquired at an average price of $37.00 per share, for a total transaction of $2,960,000.00. The disclosure for this purchase can be found here. Insiders own 9.50% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Kovitz Investment Group Partners LLC acquired a new stake in shares of Leucadia National Corp. during the first quarter worth approximately $36,530,000. Creative Planning boosted its stake in shares of Leucadia National Corp. by 35.2% in the second quarter. Creative Planning now owns 14,628 shares of the company’s stock worth $253,000 after buying an additional 3,807 shares during the period. Geode Capital Management LLC boosted its stake in shares of Leucadia National Corp. by 5.1% in the first quarter. Geode Capital Management LLC now owns 3,669,910 shares of the company’s stock worth $59,251,000 after buying an additional 177,314 shares during the period. Scopia Capital Management LP acquired a new stake in shares of Leucadia National Corp. during the first quarter worth approximately $106,120,000. Finally, UBS Group AG boosted its stake in shares of Leucadia National Corp. by 44.0% in the first quarter. UBS Group AG now owns 166,729 shares of the company’s stock worth $2,696,000 after buying an additional 50,970 shares during the period. Hedge funds and other institutional investors own 73.14% of the company’s stock.
About Leucadia National Corp.
Leucadia National Corporation (Leucadia) is a diversified holding company focused on return on investment and long-term value creation to maximize shareholder value. The Company’s financial services businesses include Jefferies Group LLC (investment banking and capital markets), Leucadia Asset Management (asset management), Berkadia (commercial mortgage banking and servicing), FXCM (a publicly traded company providing online foreign exchange trading), HomeFed Corporation (HomeFed) (a publicly traded real estate company) and Foursight Capital and Chrome Capital (vehicle finance).
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