Balyasny Asset Management L.P. Raises Stock Position in Live Oak Bancshares, Inc. (NASDAQ:LOB)

Balyasny Asset Management L.P. boosted its position in shares of Live Oak Bancshares, Inc. (NASDAQ:LOB) by 120.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,965 shares of the bank’s stock after purchasing an additional 8,726 shares during the period. Balyasny Asset Management L.P.’s holdings in Live Oak Bancshares were worth $631,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Picton Mahoney Asset Management acquired a new stake in Live Oak Bancshares during the 4th quarter valued at $27,000. Venturi Wealth Management LLC acquired a new stake in Live Oak Bancshares during the 4th quarter valued at $71,000. Principal Securities Inc. grew its holdings in Live Oak Bancshares by 99.7% during the 4th quarter. Principal Securities Inc. now owns 3,000 shares of the bank’s stock valued at $119,000 after purchasing an additional 1,498 shares in the last quarter. Thoroughbred Financial Services LLC grew its holdings in Live Oak Bancshares by 7.8% during the 4th quarter. Thoroughbred Financial Services LLC now owns 5,594 shares of the bank’s stock valued at $221,000 after purchasing an additional 407 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in Live Oak Bancshares by 7.1% during the 4th quarter. Handelsbanken Fonder AB now owns 6,000 shares of the bank’s stock valued at $237,000 after purchasing an additional 400 shares in the last quarter. 63.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director William Henderson Cameron purchased 5,000 shares of the company’s stock in a transaction on Tuesday, May 6th. The shares were bought at an average price of $25.92 per share, for a total transaction of $129,600.00. Following the completion of the purchase, the director now owns 11,904 shares of the company’s stock, valued at $308,551.68. This trade represents a 72.42% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 23.40% of the company’s stock.

Wall Street Analyst Weigh In

LOB has been the subject of several recent analyst reports. Keefe, Bruyette & Woods decreased their price objective on shares of Live Oak Bancshares from $36.00 to $34.00 and set a “market perform” rating for the company in a report on Friday, April 25th. StockNews.com lowered shares of Live Oak Bancshares from a “hold” rating to a “sell” rating in a report on Friday, March 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $42.25.

Live Oak Bancshares Stock Performance

NASDAQ LOB opened at $28.32 on Friday. Live Oak Bancshares, Inc. has a one year low of $22.68 and a one year high of $50.57. The company has a 50-day simple moving average of $26.25 and a 200-day simple moving average of $35.07. The firm has a market capitalization of $1.29 billion, a PE ratio of 19.53 and a beta of 1.84.

Live Oak Bancshares Company Profile

Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various banking products and services in the United States. It operates through two segments, Banking and Fintech. The company accepts various deposit products, including noninterest-bearing demand, as well as interest-bearing checking, money market, savings, and time deposits.