Insider Buying: Legacy Reserves LP (LGCY) Major Shareholder Purchases 69,636 Shares of Stock

Legacy Reserves LP (NASDAQ:LGCY) major shareholder Baines Creek Capital, Llc purchased 69,636 shares of the stock in a transaction that occurred on Friday, January 19th. The shares were acquired at an average cost of $2.10 per share, for a total transaction of $146,235.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Baines Creek Capital, Llc also recently made the following trade(s):

  • On Thursday, February 8th, Baines Creek Capital, Llc bought 75,000 shares of Legacy Reserves stock. The stock was purchased at an average cost of $2.22 per share, for a total transaction of $166,500.00.
  • On Friday, February 2nd, Baines Creek Capital, Llc bought 150,000 shares of Legacy Reserves stock. The stock was purchased at an average cost of $2.28 per share, for a total transaction of $342,000.00.
  • On Tuesday, February 6th, Baines Creek Capital, Llc bought 526,000 shares of Legacy Reserves stock. The stock was purchased at an average cost of $2.27 per share, for a total transaction of $1,194,020.00.
  • On Wednesday, January 31st, Baines Creek Capital, Llc bought 275,000 shares of Legacy Reserves stock. The stock was purchased at an average cost of $2.39 per share, for a total transaction of $657,250.00.
  • On Monday, January 29th, Baines Creek Capital, Llc bought 100,000 shares of Legacy Reserves stock. The stock was purchased at an average cost of $2.49 per share, for a total transaction of $249,000.00.
  • On Friday, January 26th, Baines Creek Capital, Llc bought 158,953 shares of Legacy Reserves stock. The stock was purchased at an average cost of $2.51 per share, for a total transaction of $398,972.03.
  • On Wednesday, January 24th, Baines Creek Capital, Llc bought 141,986 shares of Legacy Reserves stock. The stock was purchased at an average cost of $2.31 per share, for a total transaction of $327,987.66.
  • On Monday, January 22nd, Baines Creek Capital, Llc bought 121,641 shares of Legacy Reserves stock. The stock was purchased at an average cost of $2.23 per share, for a total transaction of $271,259.43.
  • On Tuesday, January 16th, Baines Creek Capital, Llc bought 161,000 shares of Legacy Reserves stock. The stock was purchased at an average cost of $2.09 per share, for a total transaction of $336,490.00.
  • On Tuesday, January 9th, Baines Creek Capital, Llc bought 92,976 shares of Legacy Reserves stock. The stock was purchased at an average cost of $1.73 per share, for a total transaction of $160,848.48.

Legacy Reserves LP (NASDAQ:LGCY) traded down $0.02 on Wednesday, hitting $2.27. 476,695 shares of the stock were exchanged, compared to its average volume of 464,029. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of -2.79. Legacy Reserves LP has a one year low of $1.07 and a one year high of $2.60. The firm has a market cap of $170.85, a P/E ratio of -1.07 and a beta of 2.85.

A number of large investors have recently bought and sold shares of LGCY. Valeo Financial Advisors LLC acquired a new stake in Legacy Reserves during the 3rd quarter worth approximately $430,000. RR Advisors LLC boosted its position in Legacy Reserves by 40.5% during the 3rd quarter. RR Advisors LLC now owns 850,000 shares of the oil and gas producer’s stock worth $1,292,000 after buying an additional 245,000 shares during the period. Virtu Financial LLC acquired a new stake in Legacy Reserves during the 4th quarter worth approximately $110,000. Finally, Raymond James Financial Services Advisors Inc. boosted its position in Legacy Reserves by 123.6% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 68,952 shares of the oil and gas producer’s stock worth $101,000 after buying an additional 38,110 shares during the period. Institutional investors and hedge funds own 20.18% of the company’s stock.

Separately, ValuEngine downgraded shares of Legacy Reserves from a “sell” rating to a “strong sell” rating in a research note on Saturday, February 3rd. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $1.88.

TRADEMARK VIOLATION NOTICE: This article was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this article on another website, it was illegally copied and reposted in violation of United States and international copyright law. The legal version of this article can be read at https://www.dispatchtribunal.com/2018/02/14/legacy-reserves-lp-lgcy-major-shareholder-baines-creek-capital-llc-buys-69636-shares-of-stock.html.

About Legacy Reserves

Legacy Reserves LP (Legacy) is a master limited partnership company. The Company focuses on the acquisition and development of oil and natural gas properties located in the Permian Basin, East Texas, Rocky Mountain and Mid-Continent regions of the United States. As of December 31, 2016, the Company had proved reserves of approximately 144.8 million barrels of crude oil equivalent (MMBoe), of which 72% were natural gas, 28% were oil and natural gas liquids (NGLs) and 94% were classified as proved developed producing.

Insider Buying and Selling by Quarter for Legacy Reserves (NASDAQ:LGCY)

Receive News & Ratings for Legacy Reserves Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Legacy Reserves and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply