LM Funding America, Inc. (NASDAQ:LMFA) Sees Large Increase in Short Interest

LM Funding America, Inc. (NASDAQ:LMFA) was the recipient of a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 383,718 shares, an increase of 80.8% from the May 31st total of 212,191 shares. Based on an average daily volume of 387,890 shares, the short-interest ratio is presently 1.0 days. Approximately 2.6% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of LM Funding America in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.00.

LM Funding America Trading Down 0.4%

LMFA opened at $0.15 on Friday. LM Funding America has a one year low of $0.12 and a one year high of $5.14. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.13 and a quick ratio of 1.13. The business has a 50 day simple moving average of $0.22 and a two-hundred day simple moving average of $0.33. The firm has a market capitalization of $2.59 million, a price-to-earnings ratio of -0.07 and a beta of 2.40.

LM Funding America (NASDAQ:LMFA) last announced its quarterly earnings results on Friday, May 15th. The financial services provider reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.16). The company had revenue of $2.11 million for the quarter, compared to analysts’ expectations of $3.00 million. LM Funding America had a negative net margin of 368.68% and a negative return on equity of 102.63%.

Insider Buying and Selling

In other LM Funding America news, CFO Richard D. Russell acquired 131,600 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was bought at an average price of $0.22 per share, with a total value of $28,952.00. Following the completion of the purchase, the chief financial officer owned 244,147 shares of the company’s stock, valued at approximately $53,712.34. This represents a 116.93% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 15.03% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LMFA. XTX Topco Ltd bought a new position in LM Funding America during the 2nd quarter valued at about $54,000. Jane Street Group LLC bought a new stake in shares of LM Funding America in the second quarter worth approximately $70,000. Two Sigma Investments LP purchased a new position in shares of LM Funding America during the third quarter valued at approximately $100,000. Citadel Advisors LLC bought a new position in LM Funding America during the third quarter valued at approximately $139,000. Finally, Armistice Capital LLC lifted its position in LM Funding America by 28.4% during the second quarter. Armistice Capital LLC now owns 397,899 shares of the financial services provider’s stock valued at $1,138,000 after purchasing an additional 87,905 shares during the period. Institutional investors own 22.73% of the company’s stock.

About LM Funding America

LM Funding America, Inc, headquartered in Miami, Florida, is a specialty finance company that provides retail installment contracts to subprime borrowers. The company originates, acquires, and manages motor vehicle retail financing through a network of franchised and independent automobile dealerships across the United States. LM Funding America holds and services its loan portfolio through its wholly owned subsidiary, LM Funding America Service Corp., and offers floorplan financing to new and used vehicle dealers through LM Funding Floorplan LLC.

Established in 2013, LM Funding America completed its initial public offering on the Nasdaq Stock Market in 2015, enabling the company to expand its lending operations and geographic presence.