Potrero Capital Research LLC purchased a new position in shares of Livent Co. (NYSE:LTHM) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 105,000 shares of the company’s stock, valued at approximately $1,819,000.
A number of other large investors have also modified their holdings of LTHM. CoreCommodity Management LLC raised its holdings in shares of Livent by 11.1% in the 1st quarter. CoreCommodity Management LLC now owns 143,614 shares of the company’s stock valued at $2,487,000 after purchasing an additional 14,324 shares during the period. LPL Financial LLC grew its stake in Livent by 226.5% in the 4th quarter. LPL Financial LLC now owns 89,199 shares of the company’s stock valued at $1,681,000 after buying an additional 61,880 shares during the last quarter. Paloma Partners Management Co acquired a new position in Livent in the 4th quarter valued at about $240,000. Morgan Stanley grew its stake in Livent by 172.9% in the 4th quarter. Morgan Stanley now owns 1,646,778 shares of the company’s stock valued at $31,024,000 after buying an additional 1,043,360 shares during the last quarter. Finally, Guggenheim Capital LLC acquired a new position in Livent in the 4th quarter valued at about $1,066,000. 95.93% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on the stock. Evercore ISI upgraded shares of Livent from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $20.00 to $22.00 in a research report on Monday, April 19th. Zacks Investment Research lowered shares of Livent from a “hold” rating to a “sell” rating in a research report on Tuesday, May 4th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $17.91.
Livent (NYSE:LTHM) last issued its quarterly earnings results on Sunday, May 2nd. The company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. Livent had a negative net margin of 5.72% and a negative return on equity of 1.27%. The company had revenue of $91.70 million during the quarter, compared to the consensus estimate of $79.78 million. During the same quarter in the prior year, the firm posted $0.02 EPS. The firm’s quarterly revenue was up 33.9% on a year-over-year basis. As a group, research analysts predict that Livent Co. will post 0.12 earnings per share for the current fiscal year.
Livent Corporation manufactures and sells performance lithium compounds primarily used in lithium-based batteries, specialty polymers, and chemical synthesis applications in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. The company offers lithium compounds for use in applications that have specific performance requirements, including battery-grade lithium hydroxide for use in high performance lithium-ion batteries; and butyllithium, which is used in the production of polymers and pharmaceutical products, as well as a range of specialty lithium compounds, including high purity lithium metal, which is used in the production of lightweight materials for aerospace applications and non-rechargeable batteries.
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