American Superconductor Corporation (NASDAQ:AMSC) Shares Sold by Legato Capital Management LLC

Legato Capital Management LLC trimmed its position in American Superconductor Corporation (NASDAQ:AMSC - Free Report) by 18.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,363 shares of the technology company's stock after selling 9,913 shares during the period. Legato Capital Management LLC owned approximately 0.11% of American Superconductor worth $805,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMSC. Sowell Financial Services LLC lifted its stake 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 valued at $299,000 after purchasing an additional 1,384 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of American Superconductor by 12.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 37,723 shares of the technology company's stock worth $684,000 after purchasing an additional 4,259 shares during the period. SG Americas Securities LLC boosted its holdings in shares of American Superconductor by 104.8% during the first quarter. SG Americas Securities LLC now owns 15,839 shares of the technology company's stock worth $287,000 after purchasing an additional 8,105 shares during the period. Deutsche Bank AG lifted its holdings in American Superconductor by 43.8% in the fourth 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 period. Finally, Northern Trust Corp lifted its holdings in shares of American Superconductor by 8.9% during the fourth quarter. Northern Trust Corp now owns 327,805 shares of the technology company's stock valued at $8,074,000 after purchasing an additional 26,819 shares during the last quarter. 52.28% of the stock is owned by institutional investors.

Insider Transactions at American Superconductor

In other American Superconductor news, CEO Daniel P. Mcgahn sold 122,655 shares of American Superconductor stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $26.39, for a total transaction of $3,236,865.45. Following the transaction, the chief executive officer directly owned 1,304,486 shares of the company's stock, valued at $34,425,385.54. The trade was a 8.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John W. Kosiba, Jr. sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $26.40, for a total transaction of $1,320,000.00. Following the completion of the sale, the chief financial officer directly owned 414,276 shares in the company, valued at $10,936,886.40. This trade represents a 10.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 185,088 shares of company stock worth $4,952,531 over the last 90 days. 4.80% of the stock is currently owned by company insiders.

American Superconductor Stock Performance

NASDAQ:AMSC traded up $0.19 during midday trading on Friday, reaching $43.20. 1,002,958 shares of the stock traded hands, compared to its average volume of 984,948. American Superconductor Corporation has a 12-month low of $13.98 and a 12-month high of $44.74. The business has a 50-day moving average of $34.05 and a two-hundred day moving average of $26.73. The stock has a market capitalization of $1.71 billion, a PE ratio of 288.00 and a beta of 2.91.

American Superconductor (NASDAQ:AMSC - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The technology company reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.02. American Superconductor had a net margin of 2.71% and a return on equity of 8.89%. The company had revenue of $66.66 million during the quarter, compared to analysts' expectations of $60.27 million. The company's revenue was up 58.6% compared to the same quarter last year. Research analysts anticipate that American Superconductor Corporation will post 0.41 earnings per share for the current year.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of American Superconductor from a "hold" rating to a "buy" rating in a research report on Tuesday, July 15th.

American Superconductor Company 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.