AIGH Capital Management LLC Acquires New Stake in Allient Inc. $ALNT

Key Points

• AIGH Capital Management LLC has acquired 200,000 shares of Allient Inc. ($ALNT), valued at approximately $7.26 million, making it the 14th largest position in their portfolio.
• Allient has a current market cap of $834.79 million and recently reported earnings per share (EPS) of $0.57, exceeding analysts' estimates.
• Weiss Ratings has given Allient a "hold (c)" rating, with three analysts maintaining a Hold rating and an average target price of $35.00.

AIGH Capital Management LLC acquired a new stake in shares of Allient Inc. (NASDAQ:ALNT - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 200,000 shares of the company's stock, valued at approximately $7,262,000. Allient makes up approximately 3.3% of AIGH Capital Management LLC's holdings, making the stock its 14th largest position. AIGH Capital Management LLC owned approximately 1.18% of Allient at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALNT. GAMMA Investing LLC bought a new position in Allient during the 1st quarter valued at approximately $60,000. Allspring Global Investments Holdings LLC boosted its stake in Allient by 8.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 442,335 shares of the company's stock valued at $9,731,000 after purchasing an additional 36,142 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Allient by 26.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 104,988 shares of the company's stock valued at $2,308,000 after purchasing an additional 22,098 shares during the last quarter. CWM LLC boosted its stake in Allient by 105.2% during the 1st quarter. CWM LLC now owns 1,890 shares of the company's stock valued at $42,000 after purchasing an additional 969 shares during the last quarter. Finally, Pinnacle Associates Ltd. boosted its stake in Allient by 37.6% during the 1st quarter. Pinnacle Associates Ltd. now owns 327,132 shares of the company's stock valued at $7,190,000 after purchasing an additional 89,463 shares during the last quarter. Institutional investors own 61.57% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of Allient in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Allient currently has an average rating of "Hold" and an average target price of $35.00.

Allient Stock Performance

Shares of ALNT opened at $49.25 on Monday. The company has a market cap of $834.79 million, a price-to-earnings ratio of 57.27 and a beta of 1.51. Allient Inc. has a 12 month low of $16.91 and a 12 month high of $53.62. The company has a current ratio of 3.74, a quick ratio of 2.17 and a debt-to-equity ratio of 0.70. The business's fifty day simple moving average is $45.75 and its two-hundred day simple moving average is $36.47.

Allient (NASDAQ:ALNT - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.09. The firm had revenue of $139.58 million for the quarter, compared to the consensus estimate of $132.89 million. Allient had a return on equity of 9.97% and a net margin of 2.75%. Research analysts anticipate that Allient Inc. will post 1.43 earnings per share for the current fiscal year.

Allient Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Thursday, August 21st. Allient's dividend payout ratio (DPR) is 13.95%.

Allient Profile

Allient Inc, together with its subsidiaries, designs, manufactures, and sells precision and specialty controlled motion components and systems for various industries in the United States, Canada, South America, Europe, and Asia-Pacific. It offers brush and brushless DC motors, brushless servo and torque motors, coreless DC motors, integrated brushless motor-drives, gearmotors, gearing, modular digital servo drives, motion controllers, optical encoders, active and passive filters, input/output modules, industrial communications gateways, light-weighting technologies, and other controlled motion-related products, as well as nano precision positioning systems, servo control systems, and digital servo amplifiers and drives.

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