LM Funding America Inc (NASDAQ:LMFA) shares jumped 11% as investors responded positively to the company’s financial results for the quarter and six months ending June 30, 2021. The company reported net income attributable to the company of $11.1 million of $2.05 per diluted and basic share in Q2 2021 and income of $15.5 million or $2.95 per diluted and $2.96 per basic share for the six months.
At the end of the quarter, the company had working capital of $29.7 million or $5.49 per diluted and basic share. In addition, its cash increased to $22.2 million compared to $11.6 million six months earlier.
CEO Bruce Rodgers said that the company operates under the “We Buy Problems” tagline, and in the first six months of the year, the company structured, originated and monetized its problem buying operations to create a net income of $2.96 per diluted and basic share. He explained that with an expanding balance sheet, so has the buy problems opportunities. With the enhancements, LMFA is worth watching in the coming months.
Market Reaction:
On Tuesday, LMFA stock soared 10.65% at $5.09 with more than 20.74 million shares, compared to its average volume of 1.52 million shares. The stock has moved within a range of $4.94 – 5.62 after opening the trade at $5.52.
