Bank of America Corp DE Boosts Holdings in Lifetime Brands, Inc. (NASDAQ:LCUT)

Bank of America Corp DE grew its stake in shares of Lifetime Brands, Inc. (NASDAQ:LCUT) by 66.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,908 shares of the company’s stock after purchasing an additional 11,899 shares during the period. Bank of America Corp DE owned approximately 0.13% of Lifetime Brands worth $177,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of LCUT. Hsbc Holdings PLC boosted its position in Lifetime Brands by 84.9% during the 4th quarter. Hsbc Holdings PLC now owns 21,625 shares of the company’s stock valued at $128,000 after acquiring an additional 9,932 shares in the last quarter. SageView Advisory Group LLC boosted its position in shares of Lifetime Brands by 41.8% during the fourth quarter. SageView Advisory Group LLC now owns 34,640 shares of the company’s stock valued at $205,000 after purchasing an additional 10,219 shares in the last quarter. Barclays PLC grew its stake in Lifetime Brands by 93.8% in the fourth quarter. Barclays PLC now owns 36,851 shares of the company’s stock worth $218,000 after purchasing an additional 17,835 shares during the period. JPMorgan Chase & Co. raised its holdings in Lifetime Brands by 744.1% in the fourth quarter. JPMorgan Chase & Co. now owns 45,589 shares of the company’s stock worth $269,000 after purchasing an additional 40,188 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in Lifetime Brands by 5.2% in the fourth quarter. Empowered Funds LLC now owns 101,073 shares of the company’s stock worth $597,000 after purchasing an additional 4,980 shares in the last quarter. Hedge funds and other institutional investors own 40.62% of the company’s stock.

Lifetime Brands Stock Performance

Shares of LCUT opened at $3.71 on Monday. The firm has a market capitalization of $83.16 million, a P/E ratio of -3.75, a PEG ratio of 0.48 and a beta of 1.51. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.36 and a quick ratio of 0.97. Lifetime Brands, Inc. has a one year low of $2.89 and a one year high of $9.79. The business has a fifty day moving average of $3.56 and a 200 day moving average of $4.85.

Lifetime Brands (NASDAQ:LCUT) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.11). Lifetime Brands had a negative net margin of 3.19% and a positive return on equity of 3.13%. The firm had revenue of $140.09 million for the quarter, compared to the consensus estimate of $144.86 million. As a group, sell-side analysts anticipate that Lifetime Brands, Inc. will post 0.55 EPS for the current year.

Analyst Upgrades and Downgrades

LCUT has been the topic of several recent research reports. Canaccord Genuity Group cut their price target on Lifetime Brands from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, May 12th. Wall Street Zen cut Lifetime Brands from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. Finally, DA Davidson lowered their price target on Lifetime Brands from $6.75 to $6.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th.

About Lifetime Brands

Lifetime Brands, Inc designs, sources, and sells branded kitchenware, tableware, and other products for use in the home in the worldwide. The company provides kitchenware products, including kitchen tools and gadgets, cutlery, kitchen scales, thermometers, cutting boards, shears, cookware, pantryware, spice racks, and bakeware; and tableware products comprising dinnerware, stemware, flatware, and giftware.