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

Stock analysts at StockNews.com assumed coverage on shares of Landec (NASDAQ:LNDCGet Rating) in a research note issued to investors on Wednesday. The brokerage set a “hold” rating on the basic materials company’s stock.

Several other research firms also recently issued reports on LNDC. Barrington Research dropped their price target on Landec to $12.00 in a research note on Thursday, October 13th. TheStreet cut Landec from a “c-” rating to a “d+” rating in a report on Thursday, October 6th.

Landec Price Performance

The firm has a 50-day moving average price of $8.95 and a 200-day moving average price of $9.66. Landec has a 12 month low of $7.65 and a 12 month high of $12.04. The firm has a market cap of $259.26 million, a P/E ratio of -2.59 and a beta of 1.10. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.40 and a quick ratio of 0.63.

Insider Activity

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

Hedge Funds Weigh In On Landec

Hedge funds and other institutional investors have recently bought and sold shares of the business. Boston Partners boosted its holdings in shares of Landec by 7.4% during the first quarter. Boston Partners now owns 115,612 shares of the basic materials company’s stock worth $1,339,000 after acquiring an additional 7,919 shares during the period. State of Tennessee Treasury Department boosted its holdings in shares of Landec by 209.6% during the first quarter. State of Tennessee Treasury Department now owns 24,576 shares of the basic materials company’s stock worth $285,000 after acquiring an additional 16,639 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in shares of Landec by 12.2% during the first quarter. Oppenheimer Asset Management Inc. now owns 61,117 shares of the basic materials company’s stock worth $708,000 after acquiring an additional 6,638 shares during the period. Visionary Wealth Advisors boosted its holdings in shares of Landec by 4.0% during the first quarter. Visionary Wealth Advisors now owns 518,536 shares of the basic materials company’s stock worth $6,005,000 after acquiring an additional 19,866 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in shares of Landec by 469.0% during the first quarter. MetLife Investment Management LLC now owns 15,010 shares of the basic materials company’s stock worth $174,000 after acquiring an additional 12,372 shares during the period. Institutional investors own 85.78% of the company’s stock.

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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