Marathon Asset Management Ltd Sells 79,053 Shares of nLight (NASDAQ:LASR)

Marathon Asset Management Ltd cut its holdings in nLight (NASDAQ:LASR - Free Report) by 9.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 746,464 shares of the company's stock after selling 79,053 shares during the quarter. Marathon Asset Management Ltd owned 1.52% of nLight worth $5,800,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Picton Mahoney Asset Management boosted its holdings in shares of nLight by 47.4% during the 4th quarter. Picton Mahoney Asset Management now owns 2,907 shares of the company's stock worth $30,000 after buying an additional 935 shares in the last quarter. Russell Investments Group Ltd. raised its stake in nLight by 3,951.6% in the 4th quarter. Russell Investments Group Ltd. now owns 3,687 shares of the company's stock valued at $39,000 after acquiring an additional 3,596 shares during the period. GAMMA Investing LLC raised its stake in nLight by 6,563.0% in the 1st quarter. GAMMA Investing LLC now owns 4,864 shares of the company's stock valued at $38,000 after acquiring an additional 4,791 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of nLight in the fourth quarter worth about $102,000. Finally, Quantbot Technologies LP increased its position in shares of nLight by 17.6% in the fourth quarter. Quantbot Technologies LP now owns 11,864 shares of the company's stock worth $124,000 after purchasing an additional 1,772 shares during the last quarter. 83.88% of the stock is owned by institutional investors and hedge funds.

nLight Stock Performance

NASDAQ LASR opened at $19.63 on Friday. The business's 50 day moving average price is $13.79 and its 200-day moving average price is $11.09. The company has a market cap of $970.51 million, a P/E ratio of -17.37 and a beta of 2.27. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.63 and a current ratio of 5.81. nLight has a fifty-two week low of $6.20 and a fifty-two week high of $19.95.

nLight (NASDAQ:LASR - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.13. The company had revenue of $51.67 million for the quarter, compared to the consensus estimate of $47.77 million. nLight had a negative return on equity of 22.23% and a negative net margin of 26.80%. nLight's quarterly revenue was up 16.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.17) EPS. Sell-side analysts predict that nLight will post -1.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Craig Hallum reissued a "buy" rating and set a $24.00 price objective (up previously from $14.00) on shares of nLight in a research note on Thursday. Needham & Company LLC raised their target price on nLight from $14.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $17.70.

Insider Buying and Selling

In other news, CFO Joseph John Corso sold 10,062 shares of nLight stock in a transaction on Friday, June 13th. The stock was sold at an average price of $17.62, for a total transaction of $177,292.44. Following the transaction, the chief financial officer now owns 166,362 shares in the company, valued at $2,931,298.44. The trade was a 5.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Scott H. Keeney sold 4,063 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $19.01, for a total transaction of $77,237.63. Following the completion of the sale, the chief executive officer now owns 1,277,477 shares in the company, valued at approximately $24,284,837.77. This trade represents a 0.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,233 shares of company stock worth $2,787,492 in the last three months. 4.70% of the stock is owned by insiders.

nLight Company Profile

nLIGHT, Inc designs, develops, manufactures, and sells semiconductor and fiber lasers for industrial, microfabrication, and aerospace and defense applications. The company operates in two segments, Laser Products and Advanced Development. It offers semiconductor lasers with various ranges of power levels, wavelengths, and output fiber sizes; and programmable and serviceable fiber lasers for use in industrial and aerospace and defense applications.

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