Allot Ltd. $ALLT Holdings Lifted by Kanen Wealth Management LLC

Key Points

• Kanen Wealth Management LLC increased its position in Allot Ltd. by 19.6% during Q2, making up 14.8% of the firm's holdings.
• Allot's stock price rose 3.5%, reaching $10.17, with a market cap of $473.21 million and a 12-month high of $10.77.
• The company reported Q2 earnings of ($0.01) EPS, beating estimates, with revenue of $24.05 million compared to the estimated $22.90 million.

Kanen Wealth Management LLC increased its position in shares of Allot Ltd. (NASDAQ:ALLT - Free Report) by 19.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,527,823 shares of the communications equipment provider's stock after purchasing an additional 742,146 shares during the quarter. Allot makes up about 14.8% of Kanen Wealth Management LLC's holdings, making the stock its biggest position. Kanen Wealth Management LLC owned approximately 9.73% of Allot worth $38,713,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Silverberg Bernstein Capital Management LLC boosted its holdings in Allot by 38.1% during the second quarter. Silverberg Bernstein Capital Management LLC now owns 146,172 shares of the communications equipment provider's stock worth $1,250,000 after purchasing an additional 40,300 shares during the last quarter. Cloud Capital Management LLC purchased a new position in Allot in the first quarter valued at about $452,000. Finally, DCF Advisers LLC purchased a new position in Allot in the first quarter valued at about $138,000. 51.50% of the stock is currently owned by hedge funds and other institutional investors.

Allot Stock Up 3.5%

NASDAQ ALLT opened at $10.17 on Tuesday. The company's 50 day moving average is $8.15 and its 200-day moving average is $7.49. Allot Ltd. has a 12-month low of $2.78 and a 12-month high of $10.77. The firm has a market cap of $473.21 million, a P/E ratio of -203.40 and a beta of 1.43.

Allot (NASDAQ:ALLT - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. Allot had a negative net margin of 2.12% and a positive return on equity of 0.94%. The company had revenue of $24.05 million for the quarter, compared to analyst estimates of $22.90 million. Equities analysts expect that Allot Ltd. will post -0.18 EPS for the current year.

Analyst Ratings Changes

ALLT has been the topic of a number of research analyst reports. Zacks Research upgraded shares of Allot from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 27th. William Blair initiated coverage on shares of Allot in a research note on Thursday, August 21st. They issued an "outperform" rating on the stock. Finally, Wall Street Zen cut shares of Allot from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 24th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Strong Buy".

Allot Company Profile

Allot Communications Ltd. is a provider of leading innovative network intelligence and security solutions for service providers worldwide, enhancing value to their customers. Their solutions are deployed globally for network and application analytics, traffic control and shaping, network-based security services, and more.

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