Todays Report: The Wedbush Securities Inc. lowers its Position in Leucadia National Corp. (LUK)

The Wedbush Securities Inc. lowers its Position in Leucadia National Corp. (LUK)

Wedbush Securities Inc. cut its position in Leucadia National Corp. (NYSE:LUK) by 3.7% during the second quarter, Holdings Channel reports. The institutional investor owned 47,053 shares of the company’s stock after selling 1,785 shares during the period. Wedbush Securities Inc.’s holdings in Leucadia National Corp. were worth $815,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. boosted its stake in Leucadia National Corp. by 14.3% in the second quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company’s stock worth $139,000 after buying an additional 1,000 shares in the last quarter. ING Groep NV purchased a new stake in Leucadia National Corp. during the second quarter worth $204,000. Creative Planning boosted its stake in Leucadia National Corp. by 35.2% in the second quarter. Creative Planning now owns 14,628 shares of the company’s stock worth $253,000 after buying an additional 3,807 shares in the last quarter. Check Capital Management Inc. CA boosted its stake in Leucadia National Corp. by 3.9% in the second quarter. Check Capital Management Inc. CA now owns 14,580 shares of the company’s stock worth $253,000 after buying an additional 550 shares in the last quarter. Finally, Springbok Capital Management LLC purchased a new stake in Leucadia National Corp. during the first quarter worth $324,000. Institutional investors and hedge funds own 73.12% of the company’s stock.

Leucadia National Corp. (NYSE:LUK) remained flat at $18.71 during midday trading on Friday. 1,646,787 shares of the company were exchanged. Leucadia National Corp. has a 1-year low of $14.27 and a 1-year high of $20.19. The company’s market capitalization is $6.74 billion. The firm’s 50-day moving average is $18.98 and its 200 day moving average is $18.05.

Leucadia National Corp. (NYSE:LUK) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by $0.10. Leucadia National Corp. had a negative net margin of 2.95% and a negative return on equity of 2.61%. On average, analysts predict that Leucadia National Corp. will post $0.20 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 28th. Investors of record on Wednesday, December 14th will be paid a dividend of $0.0625 per share. The ex-dividend date is Monday, December 12th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.34%. Leucadia National Corp.’s dividend payout ratio is presently -32.47%.

A number of equities research analysts recently weighed in on the company. Zacks Investment Research cut Leucadia National Corp. from a “buy” rating to a “sell” rating in a report on Tuesday, August 23rd. Oppenheimer Holdings Inc. upped their price target on Leucadia National Corp. from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. Finally, TheStreet upgraded Leucadia National Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, August 10th.

In related news, Chairman Joseph S. Steinberg sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $19.04, for a total transaction of $3,808,000.00. Following the transaction, the chairman now owns 1,992,687 shares in the company, valued at $37,940,760.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 9.50% of the company’s stock.

About Leucadia National Corp.

Leucadia National Corporation (Leucadia) is a diversified holding company focused on return on investment and long-term value creation to maximize shareholder value. The Company’s financial services businesses include Jefferies Group LLC (investment banking and capital markets), Leucadia Asset Management (asset management), Berkadia (commercial mortgage banking and servicing), FXCM (a publicly traded company providing online foreign exchange trading), HomeFed Corporation (HomeFed) (a publicly traded real estate company) and Foursight Capital and Chrome Capital (vehicle finance).

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