Midwood Capital Management recently published its Q1 2019 Investor Letter, which you can track down here. Among other things, the fund reported about its quarterly return, which reached 10.6. Also, it shared its views of several holdings, including Limbach Holdings, Inc. (NASDAQ:LMB), for which it wrote the following.
"Limbach Holdings, Inc. (LMB: $9.04; $73million market cap): LMB is the 9th largest mechanical systems contractor in the U.S., designing and installing HVAC and mechanical, electrical and plumbing systems for commercial and institutional building owners. We acknowledge that the company scores low on the business quality scale, but the stock had been beaten down to an absurdly low level at the end of 2018. Its diminutive market cap belies a business with genuine scale: revenue of approximately $550 million and backlog of nearly $560 million. The stock bounced 106% in the first quarter. While it was not a large position, it still delivered 155 bps to the Fund’s gross return in Q1"[caption id="attachment_566917" align="aligncenter" width="750"] Kokliang/Shutterstock.com[/caption]
Limbach Holdings is a company that provides mechanical systems solutions such as professional building infrastructure services. Over the last 12 months, the company's stock lost almost 30%, closing on May 7th with $8.80. Limbach Holdings has a market cap of $67.26 million. For the full year 2018, the company disclosed revenues of $546.5 million, up by 12.5% from 2017, and a loss per share of $0.52, compared to a loss per share of $0.13 in 2017.
Disclosure: None. This article is originally published at Insider Monkey.