LivePerson Inc. (LPSN) Sees Significant Growth in Short Interest
LivePerson Inc. (NASDAQ:LPSN) was the recipient of a significant growth in short interest in October. As of October 31st, there was short interest totalling 1,614,750 shares, a growth of 30.6% from the October 14th total of 1,236,509 shares. Based on an average trading volume of 165,360 shares, the days-to-cover ratio is presently 9.8 days. Currently, 3.1% of the shares of the stock are short sold.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Prudential Financial Inc. increased its position in shares of LivePerson by 16.0% in the first quarter. Prudential Financial Inc. now owns 130,449 shares of the company’s stock worth $763,000 after buying an additional 18,000 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of LivePerson during the second quarter worth approximately $932,000. Louisiana State Employees Retirement System increased its position in shares of LivePerson by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 21,900 shares of the company’s stock worth $139,000 after buying an additional 100 shares during the last quarter. Strs Ohio increased its position in shares of LivePerson by 31.4% in the second quarter. Strs Ohio now owns 68,700 shares of the company’s stock worth $435,000 after buying an additional 16,400 shares during the last quarter. Finally, Essex Investment Management Co. LLC bought a new position in shares of LivePerson during the second quarter worth approximately $515,000. Hedge funds and other institutional investors own 73.46% of the company’s stock.
LivePerson (NASDAQ:LPSN) opened at 8.55 on Friday. The stock has a 50 day moving average price of $8.41 and a 200-day moving average price of $7.41. LivePerson has a 12 month low of $3.74 and a 12 month high of $8.74. The stock’s market cap is $494.00 million.
LivePerson (NASDAQ:LPSN) last issued its quarterly earnings data on Tuesday, November 8th. The company reported ($0.05) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.02) by $0.03. The company had revenue of $54.50 million for the quarter, compared to the consensus estimate of $54.51 million. LivePerson had a negative return on equity of 5.91% and a negative net margin of 15.46%. LivePerson’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.03 earnings per share. On average, analysts expect that LivePerson will post ($0.07) EPS for the current year.
Several research firms have issued reports on LPSN. Zacks Investment Research cut LivePerson from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 3rd. Credit Suisse Group AG set a $6.00 price objective on LivePerson and gave the stock a “hold” rating in a research report on Wednesday. Finally, Benchmark Co. increased their price objective on LivePerson from $8.45 to $10.00 and gave the stock a “buy” rating in a research report on Friday, September 23rd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $9.05.
LivePerson, Inc (Liveperson) is a provider of mobile and online messaging technologies that power digital communication between brands and consumers. The Company’s segments include Business and Consumer. The Business segment enables brands to leverage its cloud-based LiveEngage’s intelligence engine.
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