StockNews.com Initiates Coverage on Landec (NASDAQ:LNDC)

Stock analysts at StockNews.com started coverage on shares of Landec (NASDAQ:LNDCGet Rating) in a report issued on Wednesday. The firm set a “hold” rating on the basic materials company’s stock.

Other equities analysts have also recently issued reports about the company. TheStreet cut Landec from a “c-” rating to a “d+” rating in a report on Thursday, October 6th. Barrington Research decreased their price target on Landec to $12.00 in a research report on Thursday, October 13th.

Landec Stock Performance

Landec has a twelve month low of $7.65 and a twelve month high of $12.04. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.63 and a current ratio of 1.40. The stock has a 50-day moving average of $8.95 and a 200 day moving average of $9.66. The firm has a market cap of $259.26 million, a PE ratio of -2.59 and a beta of 1.10.

Insider Buying and Selling

In other Landec news, major shareholder Wynnefield Partners Small Cap purchased 103,000 shares of the firm’s stock in a transaction that occurred on Monday, October 24th. The shares were acquired at an average cost of $8.09 per share, for a total transaction of $833,270.00. Following the transaction, the insider now directly owns 1,627,593 shares in the company, valued at $13,167,227.37. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 14.61% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LNDC. Amalgamated Bank bought a new position in Landec in the 1st quarter valued at $37,000. Allspring Global Investments Holdings LLC boosted its position in Landec by 309.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,271 shares of the basic materials company’s stock valued at $64,000 after buying an additional 5,497 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Landec by 183.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,945 shares of the basic materials company’s stock valued at $69,000 after buying an additional 4,492 shares during the last quarter. MetLife Investment Management LLC boosted its position in Landec by 25.6% in the 3rd quarter. MetLife Investment Management LLC now owns 14,873 shares of the basic materials company’s stock valued at $132,000 after buying an additional 3,034 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its position in Landec by 18.8% in the 3rd quarter. Hsbc Holdings PLC now owns 15,259 shares of the basic materials company’s stock valued at $138,000 after buying an additional 2,414 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

About Landec

(Get Rating)

Landec Corporation, together with its subsidiaries, designs, develops, manufactures, and sells differentiated health and wellness products for food and biomaterials markets in the United States and internationally. It operates through Lifecore, Curation Foods, and Other segments. The Lifecore segment engages in the manufacture of pharmaceutical-grade sodium hyaluronate (HA) in bulk form, as well as formulated and filled syringes and vials for injectable products used in treating a range of medical conditions and procedures.

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