Cambridge Investment Research Advisors Inc. Reduces Holdings in Livent Co. (NYSE:LTHM)

Cambridge Investment Research Advisors Inc. trimmed its position in shares of Livent Co. (NYSE:LTHM) by 27.2% in the 3rd quarter, Holdings Channel reports. The firm owned 15,011 shares of the company’s stock after selling 5,620 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Livent were worth $347,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Livent by 7.8% during the second quarter. Vanguard Group Inc. now owns 17,061,497 shares of the company’s stock worth $330,310,000 after purchasing an additional 1,241,572 shares in the last quarter. State Street Corp grew its holdings in Livent by 6.1% in the 2nd quarter. State Street Corp now owns 4,733,887 shares of the company’s stock valued at $91,648,000 after buying an additional 272,634 shares in the last quarter. Royal Bank of Canada grew its holdings in Livent by 31.6% in the 2nd quarter. Royal Bank of Canada now owns 2,545,510 shares of the company’s stock valued at $49,281,000 after buying an additional 611,844 shares in the last quarter. Geode Capital Management LLC grew its holdings in Livent by 5.8% in the 2nd quarter. Geode Capital Management LLC now owns 2,498,181 shares of the company’s stock valued at $48,364,000 after buying an additional 136,956 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Livent by 7.2% in the 2nd quarter. Northern Trust Corp now owns 2,281,408 shares of the company’s stock valued at $44,167,000 after buying an additional 152,714 shares in the last quarter. Hedge funds and other institutional investors own 94.06% of the company’s stock.

LTHM opened at $24.58 on Friday. The stock’s 50-day moving average price is $27.17 and its 200 day moving average price is $24.66. Livent Co. has a 12-month low of $14.73 and a 12-month high of $33.04. The company has a current ratio of 4.87, a quick ratio of 3.63 and a debt-to-equity ratio of 0.31. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of -273.11, a PEG ratio of 1.26 and a beta of 2.10.

Livent (NYSE:LTHM) last posted its earnings results on Thursday, November 4th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.01). The firm had revenue of $103.60 million for the quarter, compared to analyst estimates of $96.00 million. Livent had a positive return on equity of 2.22% and a negative net margin of 3.13%. Livent’s revenue was up 42.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.05) EPS. On average, research analysts forecast that Livent Co. will post 0.15 earnings per share for the current year.

LTHM has been the subject of several analyst reports. Zacks Investment Research upgraded Livent from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Wednesday. Raymond James upped their price target on Livent from $26.00 to $33.00 and gave the company an “outperform” rating in a research note on Friday, November 5th. Citigroup lowered Livent from a “buy” rating to a “neutral” rating and set a $31.00 price target on the stock. in a research note on Tuesday, November 9th. Piper Sandler decreased their price target on Livent from $34.00 to $31.00 in a research note on Tuesday. Finally, TheStreet raised Livent from a “d+” rating to a “c” rating in a research note on Monday, October 11th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Livent presently has an average rating of “Hold” and a consensus price target of $26.64.

Livent Profile

Livent Corp. engages in the production of performance lithium compounds. Its products include battery-grade lithium hydroxide, butyllithium, and purity lithium metal which are used in various performance applications. It operates through the following geographical segments: North America; Europe, Middle East, and Africa; Latin America; and Asia Pacific.

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Institutional Ownership by Quarter for Livent (NYSE:LTHM)

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