BlackRock Inc. Buys Shares of 158,050 Hurco Companies, Inc. $HURC

Key Points

• BlackRock acquired 158,050 shares of Hurco Companies during the second quarter, worth approximately $3.62 million and representing a 2.44% stake.
• Other institutional investors also increased or initiated positions, with institutional and hedge-fund ownership reaching 74.36% of Hurco’s outstanding stock.
• Despite the institutional interest, Hurco carries an average “Sell” rating. The stock opened at $22.99, while its latest quarter showed $0.35 in EPS, $47.29 million in revenue, and negative net margin and return on equity.

BlackRock Inc. purchased a new position in Hurco Companies, Inc. (NASDAQ:HURC - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 158,050 shares of the scientific and technical instruments company's stock, valued at approximately $3,619,000. BlackRock Inc. owned 2.44% of Hurco Companies as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of HURC. Brooklands Fund Management Ltd grew its stake in shares of Hurco Companies by 15.8% in the first quarter. Brooklands Fund Management Ltd now owns 354,068 shares of the scientific and technical instruments company's stock worth $5,208,000 after acquiring an additional 48,377 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Hurco Companies during the 2nd quarter valued at $1,702,000. Diamond Hill Capital Management Inc. raised its stake in Hurco Companies by 23.3% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 70,321 shares of the scientific and technical instruments company's stock valued at $1,086,000 after purchasing an additional 13,296 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Hurco Companies by 0.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 321,811 shares of the scientific and technical instruments company's stock valued at $6,082,000 after purchasing an additional 1,733 shares during the period. Finally, Marshall Wace LLP boosted its holdings in Hurco Companies by 180.3% in the 4th quarter. Marshall Wace LLP now owns 75,246 shares of the scientific and technical instruments company's stock valued at $1,163,000 after purchasing an additional 48,397 shares during the period. 74.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Hurco Companies in a report on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of "Sell".

Hurco Companies Stock Up 0.8%

NASDAQ HURC opened at $22.99 on Friday. Hurco Companies, Inc. has a twelve month low of $14.50 and a twelve month high of $24.49. The stock has a market cap of $148.98 million, a P/E ratio of -22.32 and a beta of 0.70. The company's 50-day simple moving average is $22.11 and its 200 day simple moving average is $18.96.

Hurco Companies (NASDAQ:HURC - Get Free Report) last announced its quarterly earnings results on Friday, September 4th. The scientific and technical instruments company reported $0.35 EPS for the quarter. Hurco Companies had a negative net margin of 6.92% and a negative return on equity of 6.37%. The firm had revenue of $47.29 million during the quarter.

Hurco Companies Company Profile

Hurco Companies, Inc designs, manufactures, and distributes computer numerical control (CNC) machine tools and control systems for the global manufacturing industry. The company's product portfolio includes CNC vertical machining centers, turning centers, and custom-engineered special machines under the Hurco and Beta CNC brands. In addition to hardware, Hurco develops proprietary control software that enables machinists to program complex parts quickly and efficiently, reducing setup time and improving productivity.

Founded in 1968 and headquartered in Indianapolis, Indiana, Hurco serves a wide range of industrial markets, including aerospace, automotive, medical, energy, and consumer products.

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