Man Group plc Buys New Position in ACM Research, Inc. (NASDAQ:ACMR)

Man Group plc acquired a new stake in shares of ACM Research, Inc. (NASDAQ:ACMR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 24,505 shares of the specialty retailer's stock, valued at approximately $370,000.

Several other institutional investors also recently made changes to their positions in ACMR. Tower Research Capital LLC TRC boosted its holdings in shares of ACM Research by 506.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,018 shares of the specialty retailer's stock valued at $30,000 after acquiring an additional 1,685 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in ACM Research during the 4th quarter valued at about $33,000. Picton Mahoney Asset Management raised its holdings in shares of ACM Research by 66.2% during the fourth quarter. Picton Mahoney Asset Management now owns 3,104 shares of the specialty retailer's stock valued at $47,000 after buying an additional 1,236 shares during the last quarter. Federated Hermes Inc. increased its position in ACM Research by 42.0% in the 4th quarter. Federated Hermes Inc. now owns 8,270 shares of the specialty retailer's stock valued at $125,000 after acquiring an additional 2,447 shares during the period. Finally, Ieq Capital LLC acquired a new position in ACM Research during the 4th quarter worth $162,000. 66.75% of the stock is owned by institutional investors.

ACM Research Stock Down 2.7%

Shares of ACMR stock traded down $0.61 on Friday, reaching $22.38. 828,090 shares of the company's stock traded hands, compared to its average volume of 1,487,986. The company has a market capitalization of $1.32 billion, a P/E ratio of 16.95 and a beta of 1.57. ACM Research, Inc. has a 12-month low of $13.87 and a 12-month high of $30.64. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.34 and a current ratio of 2.37. The business's 50 day moving average price is $21.56 and its two-hundred day moving average price is $20.65.

Insider Buying and Selling

In other news, Director Chenming Hu sold 163,308 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $30.00, for a total transaction of $4,899,240.00. Following the completion of the sale, the director now owns 100,002 shares in the company, valued at approximately $3,000,060. This represents a 62.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Haiping Dun sold 9,518 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $29.00, for a total value of $276,022.00. Following the completion of the transaction, the director now directly owns 755,090 shares in the company, valued at $21,897,610. The trade was a 1.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 396,576 shares of company stock worth $10,703,375. Corporate insiders own 25.00% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ACMR. Needham & Company LLC reissued a "hold" rating on shares of ACM Research in a research note on Thursday, February 27th. Craig Hallum upgraded ACM Research from a "hold" rating to a "buy" rating in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. started coverage on ACM Research in a research note on Friday, February 28th. They issued an "overweight" rating and a $36.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, ACM Research presently has a consensus rating of "Moderate Buy" and an average target price of $29.40.

ACM Research Company Profile

ACM Research, Inc, together with its subsidiaries, develops, manufactures, and sells single-wafer wet cleaning equipment for enhancing the manufacturing process and yield for integrated chips worldwide. It offers space alternated phase shift technology for flat and patterned wafer surfaces, which employs alternating phases of megasonic waves to deliver megasonic energy in a uniform manner on a microscopic level; timely energized bubble oscillation technology for patterned wafer surfaces at advanced process nodes, which provides cleaning for 2D and 3D patterned wafers; Tahoe technology for delivering cleaning performance using less sulfuric acid and hydrogen peroxide; and electro-chemical plating technology for advanced metal plating.