Glazer Capital LLC Takes $3.69 Million Position in Simulations Plus, Inc. $SLP

Key Points

• Glazer Capital acquired 201,564 Simulations Plus shares worth approximately $3.69 million, giving it a roughly 1% stake. Institutional investors collectively own 78.08% of the company.
• Analyst sentiment weakened, with several firms downgrading the stock to “hold” or “market perform.” The consensus rating is “Reduce”, with a $17.25 price target versus a recent price of $18.42.
• Simulations Plus exceeded quarterly expectations, reporting $0.30 EPS versus $0.23 expected and revenue of $21.89 million versus $20.90 million estimated.

Glazer Capital LLC bought a new stake in shares of Simulations Plus, Inc. (NASDAQ:SLP - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 201,564 shares of the technology company's stock, valued at approximately $3,691,000. Glazer Capital LLC owned approximately 1.00% of Simulations Plus at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in Simulations Plus in the 2nd quarter valued at $25,000. Quarry LP acquired a new position in shares of Simulations Plus during the third quarter worth about $28,000. GAMMA Investing LLC boosted its position in shares of Simulations Plus by 26.0% in the second quarter. GAMMA Investing LLC now owns 2,831 shares of the technology company's stock worth $52,000 after buying an additional 585 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Simulations Plus by 59.3% in the first quarter. PNC Financial Services Group Inc. now owns 4,485 shares of the technology company's stock worth $53,000 after buying an additional 1,669 shares during the period. Finally, Fifth Third Bancorp purchased a new stake in shares of Simulations Plus in the first quarter worth about $54,000. 78.08% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Simulations Plus news, Director Walter S. Woltosz sold 4,177 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $18.44, for a total transaction of $77,023.88. Following the completion of the sale, the director owned 3,202,131 shares in the company, valued at $59,047,295.64. This trade represents a 0.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently commented on SLP. Wall Street Zen downgraded Simulations Plus from a "buy" rating to a "hold" rating in a report on Saturday, June 13th. Weiss Ratings upgraded Simulations Plus from a "sell (d)" rating to a "sell (d+)" rating in a report on Friday, July 10th. William Blair downgraded shares of Simulations Plus from an "outperform" rating to a "market perform" rating in a research report on Wednesday, June 17th. Finally, Craig Hallum lowered shares of Simulations Plus from a "buy" rating to a "hold" rating and set a $18.50 price objective on the stock. in a research note on Thursday, June 18th. Seven analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Simulations Plus currently has a consensus rating of "Reduce" and a consensus price target of $17.25.

Simulations Plus Price Performance

NASDAQ:SLP opened at $18.42 on Friday. The firm has a 50-day moving average of $18.30 and a two-hundred day moving average of $15.39. The stock has a market cap of $372.54 million, a P/E ratio of 46.05 and a beta of 1.32. Simulations Plus, Inc. has a 1-year low of $11.09 and a 1-year high of $21.01.

Simulations Plus (NASDAQ:SLP - Get Free Report) last announced its earnings results on Thursday, July 9th. The technology company reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.07. Simulations Plus had a return on equity of 13.50% and a net margin of 9.88%.The business had revenue of $21.89 million for the quarter, compared to analyst estimates of $20.90 million.

Simulations Plus Company Profile

Simulations Plus, Inc NASDAQ: SLP specializes in advanced modeling and simulation software tailored to the pharmaceutical, biotechnology and chemical industries. The company's flagship products include ADMET Predictor, a quantitative structure-activity relationship (QSAR) tool for predicting absorption, distribution, metabolism, excretion and toxicity properties, and GastroPlus, a physiologically based pharmacokinetic (PBPK) modeling platform for simulating drug absorption and pharmacokinetics.

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