Royce & Associates LP Purchases 34,550 Shares of inTEST Co. (NYSE:INTT)

Key Points

• Royce & Associates LP increased its stake in inTEST Co. by 2.4%, owning approximately 11.86% of the company after acquiring an additional 34,550 shares, valued at $10.26 million.
• Shares of inTEST opened at $7.69, with a market capitalization of $96.09 million and a debt-to-equity ratio of 0.08, indicating a relatively low level of debt.
• inTEST reported a loss of ($0.11) earnings per share for the last quarter, falling short of analysts' expectations, as the company also experienced changes in ratings from several equities research firms.

Royce & Associates LP increased its position in inTEST Co. (NYSE:INTT - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,467,649 shares of the company's stock after acquiring an additional 34,550 shares during the quarter. Royce & Associates LP owned about 11.86% of inTEST worth $10,259,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Jane Street Group LLC grew its holdings in inTEST by 9.0% during the 4th quarter. Jane Street Group LLC now owns 31,644 shares of the company's stock valued at $272,000 after buying an additional 2,602 shares in the last quarter. Northern Trust Corp raised its stake in inTEST by 8.2% in the fourth quarter. Northern Trust Corp now owns 40,328 shares of the company's stock valued at $346,000 after purchasing an additional 3,048 shares in the last quarter. Byrne Asset Management LLC purchased a new stake in inTEST in the first quarter valued at approximately $27,000. Farther Finance Advisors LLC purchased a new stake in inTEST in the first quarter valued at approximately $41,000. Finally, Russell Investments Group Ltd. raised its stake in inTEST by 208.9% in the fourth quarter. Russell Investments Group Ltd. now owns 43,543 shares of the company's stock valued at $374,000 after purchasing an additional 29,445 shares in the last quarter. Hedge funds and other institutional investors own 63.18% of the company's stock.

inTEST Stock Performance

Shares of inTEST stock traded down $0.11 during trading on Tuesday, hitting $7.29. 9,134 shares of the company's stock traded hands, compared to its average volume of 37,003. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.26 and a quick ratio of 1.38. inTEST Co. has a 1 year low of $5.24 and a 1 year high of $11.00. The stock has a market capitalization of $91.09 million, a P/E ratio of 31.70 and a beta of 1.65. The business has a 50-day simple moving average of $6.93 and a 200-day simple moving average of $7.22.

inTEST (NYSE:INTT - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.01). inTEST had a return on equity of 5.31% and a net margin of 2.33%. During the same period in the prior year, the company posted $0.10 earnings per share. As a group, analysts forecast that inTEST Co. will post 0.41 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on INTT. Northland Capmk downgraded inTEST from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 5th. Lake Street Capital reduced their target price on inTEST from $10.00 to $8.00 and set a "buy" rating on the stock in a research note on Monday, May 5th.

Insider Activity at inTEST

In related news, Director Gerald J. Maginnis bought 7,557 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was purchased at an average price of $5.78 per share, for a total transaction of $43,679.46. Following the acquisition, the director owned 78,057 shares in the company, valued at $451,169.46. This trade represents a 10.72% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 7.00% of the company's stock.

inTEST Profile

inTEST Corporation provides test and process technology solutions for use in manufacturing and testing in automotive, defense/aerospace, industrial, life sciences, security, and semiconductor markets worldwide. The company operates through three segments: Electronic Test, Environmental Technologies, and Process Technologies.