L Brands Inc (NYSE:LB) Short Interest Up 12.3% in June

L Brands Inc (NYSE:LB) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 16,266,100 shares, an increase of 12.3% from the May 15th total of 14,484,000 shares. Based on an average daily volume of 4,860,000 shares, the short-interest ratio is presently 3.3 days. Approximately 7.2% of the shares of the company are sold short.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kessler Investment Group LLC bought a new stake in shares of L Brands in the 1st quarter valued at approximately $67,000. Harel Insurance Investments & Financial Services Ltd. boosted its position in L Brands by 1,594.9% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,000 shares of the specialty retailer’s stock worth $83,000 after purchasing an additional 2,823 shares during the period. Ffcm LLC boosted its position in L Brands by 85.0% during the fourth quarter. Ffcm LLC now owns 3,399 shares of the specialty retailer’s stock worth $87,000 after purchasing an additional 1,562 shares during the period. Fort L.P. bought a new stake in L Brands during the fourth quarter worth approximately $106,000. Finally, Investors Research Corp bought a new stake in L Brands during the first quarter worth approximately $127,000. 69.05% of the stock is owned by institutional investors and hedge funds.

NYSE LB traded down $0.53 on Friday, hitting $25.84. 3,894,363 shares of the company were exchanged, compared to its average volume of 4,886,749. The company’s 50 day moving average price is $24.73. The company has a market cap of $7.11 billion, a price-to-earnings ratio of 9.16, a P/E/G ratio of 1.00 and a beta of 0.68. L Brands has a twelve month low of $21.44 and a twelve month high of $38.00.

L Brands (NYSE:LB) last issued its earnings results on Wednesday, May 22nd. The specialty retailer reported $0.14 earnings per share for the quarter. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.56 billion. L Brands had a negative return on equity of 74.29% and a net margin of 4.81%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 EPS. As a group, sell-side analysts expect that L Brands will post 2.4 earnings per share for the current year.

Several equities analysts have recently issued reports on the stock. Bank of America set a $30.00 price target on shares of L Brands and gave the company a “hold” rating in a report on Thursday, May 23rd. Citigroup set a $12.00 price target on shares of Controladora Vuela Co Avcn SA CV and gave the company a “buy” rating in a report on Monday, July 15th. Loop Capital reduced their price target on shares of L Brands to $20.00 and set a “sell” rating for the company in a report on Wednesday, May 15th. Royal Bank of Canada reissued a “buy” rating on shares of PrairieSky Royalty in a report on Friday, May 24th. Finally, Zacks Investment Research raised shares of Gerdau from a “sell” rating to a “hold” rating in a report on Monday, May 13th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $31.33.

About L Brands

L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, beauty and personal care products, home fragrance products, and accessories. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International.

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