Libbey (NYSEAMERICAN:LBY) Releases Quarterly Earnings Results

Libbey (NYSEAMERICAN:LBY) announced its quarterly earnings results on Thursday. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.03), Morningstar.com reports. The business had revenue of $206.16 million during the quarter.

Shares of NYSEAMERICAN:LBY traded down $0.02 during mid-day trading on Friday, reaching $1.76. 348,918 shares of the stock were exchanged, compared to its average volume of 215,864. Libbey has a one year low of $1.45 and a one year high of $11.54.

Separately, Zacks Investment Research downgraded Libbey from a “buy” rating to a “hold” rating in a report on Wednesday, July 3rd.

In related news, major shareholder Brigade Capital Management, Lp sold 320,000 shares of Libbey stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $1.75, for a total transaction of $560,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael P. Bauer purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were purchased at an average cost of $2.54 per share, with a total value of $25,400.00. Following the completion of the acquisition, the chief executive officer now owns 1,200 shares in the company, valued at approximately $3,048. The disclosure for this purchase can be found here.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Alambic Investment Management L.P. bought a new stake in Libbey during the 1st quarter worth $32,000. Menta Capital LLC lifted its holdings in Libbey by 38.4% during the 1st quarter. Menta Capital LLC now owns 20,562 shares of the company’s stock worth $58,000 after buying an additional 5,700 shares during the period. Marshall Wace LLP acquired a new position in Libbey during the 1st quarter worth about $147,000. Spark Investment Management LLC lifted its holdings in Libbey by 115.4% during the 1st quarter. Spark Investment Management LLC now owns 71,300 shares of the company’s stock worth $202,000 after buying an additional 38,200 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in Libbey by 6.7% during the 4th quarter. California Public Employees Retirement System now owns 88,433 shares of the company’s stock worth $343,000 after buying an additional 5,558 shares during the period.

Libbey Company Profile

Libbey Inc designs, produces, and sells tableware and other products in the United States, Canada, Latin America, Europe, the Middle East, Africa, and internationally. It offers glass tableware products, including tumblers, stemware, mugs, bowls, vases, salt and pepper shakers, shot glasses, canisters, candleholders, and other items; storage ware; serve ware; bakeware; handmade glass tableware; and other components for original equipment manufacturers, such as blender jars and mixing bowls.

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Earnings History for Libbey (NYSEAMERICAN:LBY)

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