nLight (NASDAQ:LASR) Stock Holdings Lessened by Marathon Asset Management Ltd

Marathon Asset Management Ltd reduced its holdings in shares of nLight (NASDAQ:LASR - Free Report) by 9.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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.

Other hedge funds have also made changes to their positions in the company. Picton Mahoney Asset Management increased its holdings in shares of nLight by 47.4% in the 4th quarter. Picton Mahoney Asset Management now owns 2,907 shares of the company's stock valued at $30,000 after acquiring an additional 935 shares during the last quarter. GAMMA Investing LLC boosted its holdings in nLight by 6,563.0% in the first quarter. GAMMA Investing LLC now owns 4,864 shares of the company's stock worth $38,000 after purchasing an additional 4,791 shares during the period. Russell Investments Group Ltd. boosted its holdings in nLight by 3,951.6% in the fourth quarter. Russell Investments Group Ltd. now owns 3,687 shares of the company's stock worth $39,000 after purchasing an additional 3,596 shares during the period. KLP Kapitalforvaltning AS bought a new stake in nLight during the fourth quarter valued at $102,000. Finally, Quantbot Technologies LP lifted its position in shares of nLight by 17.6% in the 4th quarter. Quantbot Technologies LP now owns 11,864 shares of the company's stock worth $124,000 after buying an additional 1,772 shares during the last quarter. Institutional investors and hedge funds own 83.88% of the company's stock.

Insider Activity at nLight

In related news, CFO Joseph John Corso sold 10,062 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $17.62, for a total transaction of $177,292.44. Following the completion of the transaction, the chief financial officer owned 166,362 shares of the company's stock, valued at $2,931,298.44. This trade represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Scott H. Keeney sold 33,682 shares of the business's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $19.53, for a total transaction of $657,809.46. Following the completion of the sale, the chief executive officer owned 1,206,540 shares in the company, valued at approximately $23,563,726.20. This trade represents a 2.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 201,915 shares of company stock worth $3,445,301. 4.70% of the stock is owned by corporate insiders.

nLight Stock Performance

LASR traded down $0.54 during trading hours on Tuesday, hitting $19.14. The company's stock had a trading volume of 783,745 shares, compared to its average volume of 546,563. The company has a 50-day simple moving average of $14.04 and a 200 day simple moving average of $11.15. The company has a current ratio of 5.81, a quick ratio of 4.63 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $946.26 million, a PE ratio of -16.94 and a beta of 2.27. nLight has a fifty-two week low of $6.20 and a fifty-two week high of $20.01.

nLight (NASDAQ:LASR - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates of ($0.17) by $0.13. The company had revenue of $51.67 million for the quarter, compared to analyst estimates of $47.77 million. nLight had a negative return on equity of 22.23% and a negative net margin of 26.80%. The company's quarterly revenue was up 16.2% compared to the same quarter last year. During the same period last year, the company earned ($0.17) earnings per share. As a group, sell-side analysts expect that nLight will post -1.1 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on LASR. Needham & Company LLC boosted their price objective on shares of nLight from $14.00 to $18.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Craig Hallum reaffirmed a "buy" rating and set a $24.00 target price (up from $14.00) on shares of nLight in a report on Thursday, June 26th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, nLight currently has an average rating of "Buy" and a consensus price target of $17.70.

nLight 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.