Lument Finance Trust, Inc. (NYSE:LFT – Get Rating) was the recipient of a large drop in short interest during the month of April. As of April 15th, there was short interest totalling 80,400 shares, a drop of 29.3% from the March 31st total of 113,700 shares. Based on an average daily trading volume, of 147,700 shares, the short-interest ratio is currently 0.5 days.
LFT stock opened at $2.65 on Friday. The company’s 50 day simple moving average is $2.86 and its 200-day simple moving average is $3.37. The firm has a market capitalization of $138.38 million, a PE ratio of 8.83 and a beta of 1.25. Lument Finance Trust has a 12 month low of $2.61 and a 12 month high of $4.48. The company has a debt-to-equity ratio of 7.79, a current ratio of 3.09 and a quick ratio of 3.09.
Lument Finance Trust (NYSE:LFT – Get Rating) last released its quarterly earnings results on Tuesday, March 15th. The technology company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. Lument Finance Trust had a net margin of 27.07% and a return on equity of 9.64%. As a group, sell-side analysts anticipate that Lument Finance Trust will post 0.37 earnings per share for the current year.
In related news, CEO James Peter Flynn purchased 13,500 shares of the business’s stock in a transaction dated Monday, March 21st. The stock was acquired at an average price of $2.82 per share, for a total transaction of $38,070.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James Christopher Hunt acquired 15,000 shares of the firm’s stock in a transaction that occurred on Monday, March 21st. The shares were bought at an average cost of $2.79 per share, for a total transaction of $41,850.00. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 35,500 shares of company stock worth $99,690. 2.00% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in LFT. KG&L Capital Management LLC purchased a new position in shares of Lument Finance Trust during the first quarter valued at approximately $33,000. Deltec Asset Management LLC lifted its stake in shares of Lument Finance Trust by 140.7% during the first quarter. Deltec Asset Management LLC now owns 827,430 shares of the technology company’s stock valued at $2,267,000 after buying an additional 483,703 shares during the period. BlackRock Inc. lifted its stake in shares of Lument Finance Trust by 3.1% during the fourth quarter. BlackRock Inc. now owns 172,876 shares of the technology company’s stock valued at $664,000 after buying an additional 5,260 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Lument Finance Trust during the fourth quarter valued at approximately $70,000. Finally, Morling Financial Advisors LLC purchased a new position in shares of Lument Finance Trust during the fourth quarter valued at approximately $98,000. Institutional investors and hedge funds own 30.16% of the company’s stock.
Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Lument Finance Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, April 12th. Raymond James lowered their target price on shares of Lument Finance Trust from $4.50 to $3.75 and set an “outperform” rating on the stock in a research report on Thursday, March 17th. Finally, LADENBURG THALM/SH SH lowered shares of Lument Finance Trust from a “buy” rating to a “neutral” rating in a research report on Thursday, March 17th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $4.35.
About Lument Finance Trust (Get Rating)
Lument Finance Trust, Inc, a real estate investment trust, focuses on investing in, financing, and managing a portfolio of commercial real estate (CRE) debt investments in the United States. The company primarily invests in transitional floating rate commercial mortgage loans on middle market multi-family assets; and other CRE -related investments, including mezzanine loans, preferred equity, commercial mortgage-backed securities, fixed rate loans, construction loans, and other CRE debt instruments.
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