Alpine Associates Management Inc. Lowers Stock Position in iRobot Co. (NASDAQ:IRBT)

Alpine Associates Management Inc. trimmed its holdings in iRobot Co. (NASDAQ:IRBT - Free Report) by 38.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 596,832 shares of the industrial products company's stock after selling 365,507 shares during the period. iRobot comprises about 1.2% of Alpine Associates Management Inc.'s holdings, making the stock its 23rd largest position. Alpine Associates Management Inc. owned approximately 2.14% of iRobot worth $23,097,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Allworth Financial LP grew its stake in shares of iRobot by 522.0% in the 4th quarter. Allworth Financial LP now owns 678 shares of the industrial products company's stock worth $26,000 after acquiring an additional 569 shares in the last quarter. Swiss National Bank grew its position in iRobot by 1.1% in the 3rd quarter. Swiss National Bank now owns 57,700 shares of the industrial products company's stock worth $2,187,000 after purchasing an additional 600 shares in the last quarter. Rhumbline Advisers increased its stake in iRobot by 0.7% in the 3rd quarter. Rhumbline Advisers now owns 87,965 shares of the industrial products company's stock valued at $3,334,000 after buying an additional 602 shares during the last quarter. Byrne Asset Management LLC bought a new position in shares of iRobot during the 4th quarter worth approximately $31,000. Finally, Mission Wealth Management LP boosted its stake in shares of iRobot by 5.3% in the 4th quarter. Mission Wealth Management LP now owns 19,164 shares of the industrial products company's stock worth $742,000 after buying an additional 961 shares during the last quarter. 77.42% of the stock is owned by institutional investors.

iRobot Stock Performance

Shares of IRBT stock traded down $0.18 during trading hours on Friday, hitting $11.22. 1,469,384 shares of the company were exchanged, compared to its average volume of 1,947,539. The company has a current ratio of 1.79, a quick ratio of 1.09 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $322.69 million, a price-to-earnings ratio of -1.44 and a beta of 0.91. The firm has a fifty day simple moving average of $8.85 and a 200 day simple moving average of $21.12. iRobot Co. has a 52-week low of $6.48 and a 52-week high of $51.49.

iRobot (NASDAQ:IRBT - Get Free Report) last announced its quarterly earnings data on Monday, February 26th. The industrial products company reported ($2.18) earnings per share (EPS) for the quarter. The firm had revenue of $307.54 million during the quarter. iRobot had a negative net margin of 24.42% and a negative return on equity of 99.56%. Research analysts predict that iRobot Co. will post -4.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other iRobot news, Director Colin M. Angle sold 179,503 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $11.46, for a total transaction of $2,057,104.38. Following the sale, the director now owns 14,797 shares in the company, valued at $169,573.62. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.04% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IRBT. StockNews.com upgraded iRobot from a "sell" rating to a "hold" rating in a report on Friday, January 12th. Citigroup cut their price target on shares of iRobot from $14.00 to $13.00 and set a "neutral" rating on the stock in a report on Monday, March 4th.

iRobot Profile

iRobot Corporation designs, builds, and sells robots and home innovation products in the United States, Europe, the Middle East, Africa, Japan, and internationally. The company offers floor care products, including Roomba floor vacuuming robots; Roomba accessories and consumables, such as the Clean Base Automatic Dirt Disposal, replacement dirt disposal bags for the Clean Base, filters, brushes, and batteries; Braava family of automatic floor mopping robots; and Braava accessories and consumables, which include cleaning solution, washable and disposable mopping pads, replacement tanks, and batteries, as well as subscription services.