Sei Investments Co. Acquires 229,515 Shares of LightPath Technologies, Inc. $LPTH

Key Points

• Sei Investments increased its LightPath Technologies stake by 74.2%, purchasing 229,515 additional shares to own 538,788 shares, or approximately 0.86% of the company. Institutional investors collectively hold 56.29% of LPTH.
• LightPath reported quarterly revenue of $19.15 million, above analysts’ $17.04 million estimate, while meeting expectations with an adjusted loss of $0.02 per share. The company remains unprofitable, with a negative net margin of 37.38%.
• Insider selling was significant, including a director’s sale of 3.57 million shares for about $50 million. Analysts remain generally positive, with a “Moderate Buy” consensus and a $14.12 average price target versus the stock’s reported $12.49 price.

Sei Investments Co. raised its holdings in shares of LightPath Technologies, Inc. (NASDAQ:LPTH - Free Report) by 74.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 538,788 shares of the technology company's stock after buying an additional 229,515 shares during the quarter. Sei Investments Co. owned about 0.86% of LightPath Technologies worth $5,404,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Occudo Quantitative Strategies LP purchased a new stake in shares of LightPath Technologies in the 3rd quarter valued at about $82,000. Wexford Capital LP purchased a new position in shares of LightPath Technologies during the third quarter worth about $88,000. Jefferies Financial Group Inc. purchased a new position in shares of LightPath Technologies during the third quarter worth about $90,000. Jane Street Group LLC increased its position in shares of LightPath Technologies by 92.1% in the first quarter. Jane Street Group LLC now owns 60,612 shares of the technology company's stock worth $122,000 after purchasing an additional 29,054 shares during the last quarter. Finally, Granite Investment Partners LLC bought a new position in shares of LightPath Technologies in the first quarter worth approximately $123,000. 56.29% of the stock is currently owned by institutional investors.

LightPath Technologies Price Performance

LPTH opened at $12.49 on Wednesday. The company has a current ratio of 3.86, a quick ratio of 3.24 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $784.25 million, a P/E ratio of -24.98 and a beta of 1.39. The stock has a 50-day moving average price of $13.54 and a 200-day moving average price of $12.64. LightPath Technologies, Inc. has a 12-month low of $3.29 and a 12-month high of $18.94.

LightPath Technologies (NASDAQ:LPTH - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.02) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.02). The company had revenue of $19.15 million for the quarter, compared to analysts' expectations of $17.04 million. LightPath Technologies had a negative return on equity of 15.55% and a negative net margin of 37.38%. Equities analysts predict that LightPath Technologies, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other LightPath Technologies news, Director Run Strategic Opportunit North sold 3,571,400 shares of LightPath Technologies stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $14.00, for a total transaction of $49,999,600.00. Following the transaction, the director directly owned 2,934,828 shares of the company's stock, valued at approximately $41,087,592. This trade represents a 54.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 3,864,452 shares of company stock worth $53,576,437 in the last quarter. 24.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

LPTH has been the subject of several research analyst reports. Canaccord Genuity Group reiterated a "buy" rating and set a $16.50 target price on shares of LightPath Technologies in a research report on Monday, July 27th. Wall Street Zen lowered shares of LightPath Technologies from a "hold" rating to a "sell" rating in a report on Saturday, June 6th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of LightPath Technologies in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $14.12.

LightPath Technologies Company Profile

LightPath Technologies, Inc designs, manufactures and distributes precision optical components and assemblies for a variety of commercial, industrial, defense and scientific applications. The company's portfolio includes molded glass aspheric lenses, precision glass optics, infrared lenses and assemblies, diamond-turned optics and molded polymer optics. These components are engineered to support imaging, illumination, laser delivery, detection and sensing systems across visible, ultraviolet and infrared wavelengths.

Among its core offerings, LightPath develops infrared optical solutions using materials such as germanium, zinc selenide and chalcogenide glasses for thermal imaging, night-vision devices and spectroscopy.

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