Jane Street Group LLC Purchases New Stake in Layne Christensen (LAYN)

Jane Street Group LLC purchased a new position in shares of Layne Christensen (NASDAQ:LAYN) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,908 shares of the construction company’s stock, valued at approximately $162,000. Jane Street Group LLC owned about 0.06% of Layne Christensen as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently modified their holdings of the company. Alliancebernstein L.P. bought a new position in Layne Christensen in the second quarter worth about $119,000. Nationwide Fund Advisors lifted its holdings in Layne Christensen by 3.0% in the second quarter. Nationwide Fund Advisors now owns 14,565 shares of the construction company’s stock worth $128,000 after acquiring an additional 428 shares during the last quarter. Virtu KCG Holdings LLC bought a new position in Layne Christensen in the second quarter worth about $130,000. Rhumbline Advisers lifted its holdings in Layne Christensen by 8.8% in the second quarter. Rhumbline Advisers now owns 21,629 shares of the construction company’s stock worth $190,000 after acquiring an additional 1,755 shares during the last quarter. Finally, Goldman Sachs Group Inc. bought a new position in Layne Christensen in the second quarter worth about $197,000. 92.05% of the stock is currently owned by institutional investors and hedge funds.

Shares of Layne Christensen (LAYN) opened at $12.57 on Monday. The firm has a market capitalization of $247.95, a P/E ratio of -6.13 and a beta of 0.48. The company has a current ratio of 1.47, a quick ratio of 1.32 and a debt-to-equity ratio of 3.05. Layne Christensen has a twelve month low of $6.98 and a twelve month high of $13.64.

Layne Christensen (NASDAQ:LAYN) last released its quarterly earnings results on Tuesday, December 5th. The construction company reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.07). The business had revenue of $127.43 million for the quarter, compared to the consensus estimate of $131.12 million. Layne Christensen had a negative net margin of 12.73% and a negative return on equity of 40.46%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the firm posted ($0.26) EPS. sell-side analysts forecast that Layne Christensen will post -0.51 EPS for the current year.

A number of brokerages have issued reports on LAYN. ValuEngine cut shares of Layne Christensen from a “hold” rating to a “sell” rating in a report on Friday, December 1st. BidaskClub raised Layne Christensen from a “hold” rating to a “buy” rating in a report on Wednesday, December 20th. Jefferies Group reaffirmed a “hold” rating and set a $11.00 price target (up previously from $9.00) on shares of Layne Christensen in a report on Thursday, September 14th. Finally, Zacks Investment Research cut Layne Christensen from a “hold” rating to a “sell” rating in a report on Monday, December 11th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $11.00.

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About Layne Christensen

Layne Christensen Company (Layne) is a water management, construction and drilling company. The Company provides drilling solutions for water management, mineral services and specialty drilling needs. The Company operates through three segments: Water Resources, Inliner and Mineral Services. Its Water Resources segment provides its customers with solutions for various aspects of water supply system development and technology throughout the United States.

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Institutional Ownership by Quarter for Layne Christensen (NASDAQ:LAYN)

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