Marathon Asset Management Ltd Cuts Stock Holdings in nLIGHT, Inc. (NASDAQ:LASR)

Marathon Asset Management Ltd decreased its holdings in shares of nLIGHT, Inc. (NASDAQ:LASR) by 6.3% in the 4th quarter, Holdings Channel reports. The firm owned 825,517 shares of the company’s stock after selling 55,627 shares during the period. Marathon Asset Management Ltd’s holdings in nLIGHT were worth $8,660,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of nLIGHT during the fourth quarter worth about $33,000. Point72 DIFC Ltd grew its holdings in shares of nLIGHT by 1,637.2% during the third quarter. Point72 DIFC Ltd now owns 4,152 shares of the company’s stock worth $44,000 after purchasing an additional 3,913 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of nLIGHT during the third quarter worth about $50,000. Quantbot Technologies LP grew its holdings in shares of nLIGHT by 25.5% during the third quarter. Quantbot Technologies LP now owns 10,092 shares of the company’s stock worth $108,000 after purchasing an additional 2,052 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of nLIGHT by 969.0% during the third quarter. International Assets Investment Management LLC now owns 10,690 shares of the company’s stock worth $114,000 after purchasing an additional 9,690 shares in the last quarter. Hedge funds and other institutional investors own 83.88% of the company’s stock.

nLIGHT Stock Performance

Shares of LASR stock opened at $9.17 on Monday. nLIGHT, Inc. has a fifty-two week low of $9.04 and a fifty-two week high of $14.73. The stock has a 50 day moving average price of $10.69 and a two-hundred day moving average price of $11.01. The company has a market capitalization of $444.09 million, a P/E ratio of -8.90 and a beta of 2.18.

nLIGHT (NASDAQ:LASR) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.21). nLIGHT had a negative net margin of 24.16% and a negative return on equity of 19.53%. The company had revenue of $47.38 million during the quarter, compared to the consensus estimate of $46.62 million. As a group, equities analysts predict that nLIGHT, Inc. will post -1.1 earnings per share for the current year.

Insider Buying and Selling at nLIGHT

In other nLIGHT news, CEO Scott H. Keeney sold 12,013 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $9.96, for a total value of $119,649.48. Following the completion of the sale, the chief executive officer now owns 1,340,146 shares in the company, valued at approximately $13,347,854.16. The trade was a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 28,519 shares of company stock worth $304,065. 6.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LASR. Needham & Company LLC cut their price objective on nLIGHT from $16.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Stifel Nicolaus cut their target price on nLIGHT from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th.

About nLIGHT

nLIGHT, Inc designs, develops, manufactures, and sells semiconductor and fiber lasers for industrial, microfabrication, and aerospace and defense applications. The company operates in two segments, Laser Products and Advanced Development. It offers semiconductor lasers with various ranges of power levels, wavelengths, and output fiber sizes; and programmable and serviceable fiber lasers for use in industrial and aerospace and defense applications.