Lifecore Biomedical, Inc. (NASDAQ:LFCR) Stock Position Lifted by Legion Partners Asset Management LLC

Legion Partners Asset Management LLC raised its stake in shares of Lifecore Biomedical, Inc. (NASDAQ:LFCR) by 49.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,431,823 shares of the company’s stock after purchasing an additional 1,463,414 shares during the quarter. Lifecore Biomedical makes up about 22.0% of Legion Partners Asset Management LLC’s holdings, making the stock its 3rd biggest holding. Legion Partners Asset Management LLC owned about 11.97% of Lifecore Biomedical worth $32,928,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Bridgeway Capital Management LLC grew its position in shares of Lifecore Biomedical by 2.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 78,800 shares of the company’s stock worth $585,000 after buying an additional 1,900 shares during the period. Wells Fargo & Company MN grew its position in shares of Lifecore Biomedical by 29.0% in the 4th quarter. Wells Fargo & Company MN now owns 13,381 shares of the company’s stock worth $99,000 after buying an additional 3,012 shares during the period. Barclays PLC grew its position in shares of Lifecore Biomedical by 13.5% in the 4th quarter. Barclays PLC now owns 33,972 shares of the company’s stock worth $253,000 after buying an additional 4,028 shares during the period. Bank of America Corp DE grew its position in shares of Lifecore Biomedical by 25.3% in the 4th quarter. Bank of America Corp DE now owns 33,507 shares of the company’s stock worth $249,000 after buying an additional 6,776 shares during the period. Finally, ARS Investment Partners LLC purchased a new stake in shares of Lifecore Biomedical in the 4th quarter worth about $74,000. 83.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Aron R. English sold 24,543 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $7.08, for a total value of $173,764.44. Following the transaction, the insider now owns 1,730,618 shares in the company, valued at $12,252,775.44. The trade was a 1.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 32.20% of the stock is currently owned by company insiders.

Lifecore Biomedical Stock Up 1.2%

NASDAQ:LFCR opened at $6.97 on Monday. The firm’s 50-day moving average price is $6.41 and its 200-day moving average price is $6.51. The company has a market capitalization of $258.06 million, a PE ratio of -12.45 and a beta of 0.65. The company has a debt-to-equity ratio of 9.21, a current ratio of 2.32 and a quick ratio of 1.21. Lifecore Biomedical, Inc. has a 1-year low of $3.68 and a 1-year high of $7.99.

Lifecore Biomedical (NASDAQ:LFCR) last announced its quarterly earnings results on Thursday, April 3rd. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.05). The firm had revenue of $35.15 million during the quarter, compared to the consensus estimate of $33.23 million. Lifecore Biomedical had a negative return on equity of 315.23% and a negative net margin of 12.52%. On average, equities analysts predict that Lifecore Biomedical, Inc. will post -0.91 EPS for the current fiscal year.

Lifecore Biomedical Company Profile

Lifecore Biomedical, Inc, together with its subsidiaries, operates as an integrated contract development and manufacturing organization in the United States and internationally. The company engages in the manufacturing 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.