Jump Financial LLC Lowers Position in UFP Technologies, Inc. $UFPT

Key Points

• Jump Financial LLC decreased its stake in UFP Technologies by 16.8% in Q1, holding 9,399 shares worth approximately $1.9 million after selling 1,900 shares.
• Other institutional investors have increased their positions significantly, with American Century Companies growing its stake by 1,858.2% to own 287,588 shares valued at $58 million.
• Lake Street Capital upgraded UFP Technologies to a "buy" rating, raising the price target from $252 to $289, indicating positive market sentiment for the stock's future performance.

Jump Financial LLC cut its stake in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 16.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,399 shares of the industrial products company's stock after selling 1,900 shares during the quarter. Jump Financial LLC owned 0.12% of UFP Technologies worth $1,896,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in UFPT. Johnson Financial Group Inc. bought a new stake in UFP Technologies in the 4th quarter worth approximately $42,000. Lazard Asset Management LLC bought a new position in shares of UFP Technologies during the 4th quarter valued at $84,000. Park Square Financial Group LLC purchased a new position in shares of UFP Technologies in the 4th quarter worth $107,000. Tower Research Capital LLC TRC grew its holdings in shares of UFP Technologies by 263.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 922 shares of the industrial products company's stock worth $225,000 after acquiring an additional 668 shares during the period. Finally, Corton Capital Inc. purchased a new stake in UFP Technologies during the fourth quarter valued at $236,000. 87.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital raised their target price on UFP Technologies from $252.00 to $289.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, UFP Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $289.00.

UFP Technologies Stock Performance

UFPT traded down $2.58 during midday trading on Tuesday, reaching $207.58. The company had a trading volume of 82,124 shares, compared to its average volume of 115,539. UFP Technologies, Inc. has a 1 year low of $178.26 and a 1 year high of $366.41. The company has a quick ratio of 1.53, a current ratio of 2.77 and a debt-to-equity ratio of 0.39. The company has a market cap of $1.60 billion, a P/E ratio of 24.05 and a beta of 1.20. The business has a 50-day moving average of $230.48 and a two-hundred day moving average of $225.72.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.25 by $0.25. UFP Technologies had a return on equity of 21.54% and a net margin of 11.40%.The company had revenue of $151.18 million during the quarter, compared to the consensus estimate of $151.55 million. During the same period in the previous year, the company posted $1.86 EPS. The firm's revenue was up 37.2% on a year-over-year basis.

About UFP Technologies

UFP Technologies, Inc designs and manufactures solutions for medical devices, sterile packaging, and other highly engineered custom products. The company offers protective drapes for robotic surgery, single patient use surfaces, advanced wound care, infection prevention, disposables for surgical and endoscopic procedures, packaging for medical devices, orthopedic implants, biopharma drug manufacturing, and coils for catheters; and molded components for applications in acoustic insulation, interior trim, load floors, sunshades, SUV cargo cover handles, driveshaft damping, engine and manifold covers, quarter panels, and wheel liners.