Wellington Management Group LLP Lowers Position in American Superconductor Corporation $AMSC

Key Points

• Wellington Management Group LLP reduced its stake in American Superconductor Corporation by 37.3%, owning approximately 289,173 shares worth $5.25 million after selling 172,057 shares.
• Vanguard Group Inc. increased its holdings in American Superconductor by 2.9%, owning 2.29 million shares valued at $41.5 million as of the latest quarter.
• Despite a recent decline in stock price, analysts have given American Superconductor an average rating of "Buy" with a target price of $33.67.

Wellington Management Group LLP decreased its position in American Superconductor Corporation (NASDAQ:AMSC - Free Report) by 37.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 289,173 shares of the technology company's stock after selling 172,057 shares during the quarter. Wellington Management Group LLP owned 0.73% of American Superconductor worth $5,246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMSC. Sowell Financial Services LLC increased its position in American Superconductor by 9.2% in the first quarter. Sowell Financial Services LLC now owns 16,459 shares of the technology company's stock worth $299,000 after purchasing an additional 1,384 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of American Superconductor by 12.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 37,723 shares of the technology company's stock worth $684,000 after buying an additional 4,259 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of American Superconductor by 104.8% in the 1st quarter. SG Americas Securities LLC now owns 15,839 shares of the technology company's stock worth $287,000 after buying an additional 8,105 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of American Superconductor by 43.8% in the 4th quarter. Deutsche Bank AG now owns 32,913 shares of the technology company's stock worth $811,000 after buying an additional 10,029 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of American Superconductor by 8.9% during the 4th quarter. Northern Trust Corp now owns 327,805 shares of the technology company's stock valued at $8,074,000 after buying an additional 26,819 shares in the last quarter. 52.28% of the stock is currently owned by institutional investors.

Insider Activity at American Superconductor

In other news, CFO John W. Kosiba, Jr. sold 4,744 shares of American Superconductor stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $31.83, for a total transaction of $151,001.52. Following the completion of the sale, the chief financial officer owned 409,532 shares of the company's stock, valued at approximately $13,035,403.56. The trade was a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Arthur H. House sold 9,703 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $50.92, for a total value of $494,076.76. Following the completion of the transaction, the director directly owned 48,663 shares in the company, valued at approximately $2,477,919.96. This trade represents a 16.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,984 shares of company stock worth $6,384,950 in the last 90 days. 4.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on AMSC. Wall Street Zen upgraded American Superconductor from a "hold" rating to a "buy" rating in a research report on Tuesday, July 15th. Oppenheimer reaffirmed an "outperform" rating on shares of American Superconductor in a research note on Thursday, July 31st. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $33.67.

American Superconductor Price Performance

Shares of NASDAQ:AMSC traded down $0.10 on Thursday, hitting $48.53. 1,076,482 shares of the company's stock were exchanged, compared to its average volume of 917,066. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 124.44 and a beta of 2.88. American Superconductor Corporation has a 12 month low of $13.98 and a 12 month high of $58.42. The business's 50 day simple moving average is $46.57 and its two-hundred day simple moving average is $31.26.

American Superconductor Profile

American Superconductor Corporation, together with its subsidiaries, provides megawatt-scale power resiliency solutions worldwide. The company operates through Grid and Wind segments. The Grid segment offers products and services that enable electric utilities, industrial facilities, and renewable energy project developers to connect, transmit, and distribute power under the Gridtec Solutions brand.