Luby’s, Inc. (LUB) Sees Large Decrease in Short Interest

Luby’s, Inc. (NYSE:LUB) was the target of a significant drop in short interest in the month of June. As of June 30th, there was short interest totalling 139,827 shares, a drop of 79.7% from the June 15th total of 689,581 shares. Based on an average trading volume of 212,451 shares, the short-interest ratio is currently 0.7 days. Approximately 0.7% of the company’s stock are sold short.

In other Luby’s news, Director Harris J. Pappas purchased 75,000 shares of the stock in a transaction on Monday, June 5th. The shares were purchased at an average cost of $3.15 per share, for a total transaction of $236,250.00. Following the purchase, the director now owns 3,961,031 shares of the company’s stock, valued at $12,477,247.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Christopher James Pappas purchased 10,489 shares of the stock in a transaction on Thursday, June 1st. The stock was acquired at an average price of $2.88 per share, for a total transaction of $30,208.32. Following the completion of the purchase, the insider now directly owns 4,169,470 shares in the company, valued at approximately $12,008,073.60. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 375,972 shares of company stock worth $1,166,957. 35.20% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LUB. First Manhattan Co. increased its position in Luby’s by 5.4% in the first quarter. First Manhattan Co. now owns 33,120 shares of the restaurant operator’s stock valued at $142,000 after buying an additional 1,700 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Luby’s by 445.1% in the first quarter. Wells Fargo & Company MN now owns 42,741 shares of the restaurant operator’s stock valued at $133,000 after buying an additional 34,900 shares in the last quarter. Grace & White Inc. NY increased its stake in shares of Luby’s by 40.4% in the first quarter. Grace & White Inc. NY now owns 539,319 shares of the restaurant operator’s stock valued at $1,677,000 after buying an additional 155,055 shares in the last quarter. LMR Partners LLP purchased a new stake in shares of Luby’s during the second quarter valued at approximately $149,000. Finally, Parametric Portfolio Associates LLC increased its stake in shares of Luby’s by 48.0% in the second quarter. Parametric Portfolio Associates LLC now owns 44,670 shares of the restaurant operator’s stock valued at $126,000 after buying an additional 14,496 shares in the last quarter. Hedge funds and other institutional investors own 47.18% of the company’s stock.

Shares of Luby’s (NYSE LUB) traded down 2.59% during midday trading on Friday, reaching $2.63. 27,606 shares of the company’s stock traded hands. The firm’s market cap is $76.58 million. Luby’s has a 52-week low of $2.45 and a 52-week high of $4.64. The company has a 50 day moving average of $2.85 and a 200 day moving average of $3.06.

Luby’s (NYSE:LUB) last released its quarterly earnings data on Wednesday, July 12th. The restaurant operator reported ($0.02) earnings per share for the quarter. Luby’s had a negative return on equity of 4.97% and a negative net margin of 6.96%. The business had revenue of $88.72 million for the quarter. On average, equities analysts predict that Luby’s will post ($0.07) EPS for the current fiscal year.

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Luby’s Company Profile

Luby’s, Inc, is a multi-branded company operating in the restaurant industry and in the contract food services industry. The Company is managed through three segments: Company-owned restaurants, franchise operations, and Culinary Contract Services (CSS). The company-owned restaurants brands are Luby’s Cafeteria, Fuddruckers, and Cheeseburger in Paradise with a couple of non-core restaurant locations under other brand names.

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