PEAK6 Investments L.P. cut its position in shares of Layne Christensen (NASDAQ:LAYN) by 46.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,419 shares of the construction company’s stock after selling 13,181 shares during the period. PEAK6 Investments L.P. owned 0.08% of Layne Christensen worth $194,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in LAYN. Jane Street Group LLC acquired a new position in Layne Christensen in the 3rd quarter valued at about $162,000. Alliancebernstein L.P. acquired a new position in Layne Christensen in the 2nd quarter valued at about $119,000. Nationwide Fund Advisors grew its stake in Layne Christensen by 3.0% in the 2nd quarter. Nationwide Fund Advisors now owns 14,565 shares of the construction company’s stock valued at $128,000 after buying an additional 428 shares during the last quarter. Millennium Management LLC acquired a new position in Layne Christensen in the 4th quarter valued at about $218,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Layne Christensen during the 2nd quarter worth approximately $197,000. Institutional investors own 95.03% of the company’s stock.
Shares of LAYN traded down $0.61 during trading hours on Friday, hitting $14.80. 99,135 shares of the stock were exchanged, compared to its average volume of 262,145. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 3.05. The stock has a market cap of $294.77, a PE ratio of -8.41 and a beta of 0.47. Layne Christensen has a fifty-two week low of $6.98 and a fifty-two week high of $16.96.
A number of analysts have recently weighed in on LAYN shares. Zacks Investment Research downgraded shares of Layne Christensen from a “hold” rating to a “sell” rating in a report on Monday, December 11th. BidaskClub raised shares of Layne Christensen from a “hold” rating to a “buy” rating in a report on Wednesday, December 20th. TheStreet upgraded shares of Layne Christensen from a “d+” rating to a “c-” rating in a research report on Thursday, February 15th. Finally, ValuEngine upgraded shares of Layne Christensen from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Four analysts have rated the stock with a hold rating, Layne Christensen has an average rating of “Hold” and a consensus price target of $11.00.
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About Layne Christensen
Layne Christensen Company operates as a water management, construction, and drilling company that provides solutions for the water, mineral, and energy markets in the United States and internationally. The company's Water Resources segment offers water-related products and services, including hydrologic design and construction; source of supply exploration; well and intake construction; and well and pump rehabilitation services.
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