Marathon Asset Management Ltd Has $9.42 Million Holdings in nLIGHT, Inc. (NASDAQ:LASR)

Marathon Asset Management Ltd lowered its holdings in shares of nLIGHT, Inc. (NASDAQ:LASR) by 10.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 881,144 shares of the company’s stock after selling 102,009 shares during the quarter. Marathon Asset Management Ltd owned about 1.85% of nLIGHT worth $9,419,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. nVerses Capital LLC raised its stake in shares of nLIGHT by 500.0% in the third quarter. nVerses Capital LLC now owns 4,200 shares of the company’s stock valued at $45,000 after purchasing an additional 3,500 shares in the last quarter. Creative Planning bought a new position in nLIGHT in the third quarter valued at approximately $136,000. ProShare Advisors LLC raised its position in shares of nLIGHT by 15.0% in the 1st quarter. ProShare Advisors LLC now owns 11,518 shares of the company’s stock valued at $150,000 after acquiring an additional 1,503 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of nLIGHT by 16.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,154 shares of the company’s stock worth $172,000 after purchasing an additional 1,886 shares during the period. Finally, SG Americas Securities LLC bought a new position in nLIGHT in the third quarter valued at approximately $179,000. 83.88% of the stock is owned by institutional investors and hedge funds.

nLIGHT Stock Performance

Shares of NASDAQ LASR opened at $11.23 on Friday. The company has a market capitalization of $534.15 million, a P/E ratio of -11.01 and a beta of 2.35. nLIGHT, Inc. has a 52-week low of $8.13 and a 52-week high of $15.00. The company’s 50 day moving average price is $11.06 and its 200-day moving average price is $11.68.

nLIGHT (NASDAQ:LASR) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.03. The business had revenue of $50.51 million during the quarter, compared to the consensus estimate of $49.23 million. nLIGHT had a negative net margin of 25.62% and a negative return on equity of 19.58%. nLIGHT’s revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.18) EPS. Analysts forecast that nLIGHT, Inc. will post -0.98 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on LASR. Cantor Fitzgerald initiated coverage on shares of nLIGHT in a research report on Thursday, October 3rd. They issued an “overweight” rating and a $15.50 price objective on the stock. Needham & Company LLC restated a “buy” rating and set a $15.00 price objective on shares of nLIGHT in a research report on Monday, August 5th. Finally, Benchmark reaffirmed a “speculative buy” rating and set a $17.00 price target on shares of nLIGHT in a research report on Friday, August 2nd.

Insider Buying and Selling at nLIGHT

In other nLIGHT news, CEO Scott H. Keeney sold 15,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $11.11, for a total value of $166,650.00. Following the completion of the transaction, the chief executive officer now directly owns 1,347,781 shares of the company’s stock, valued at $14,973,846.91. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Scott H. Keeney sold 15,000 shares of nLIGHT stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $11.11, for a total value of $166,650.00. Following the transaction, the chief executive officer now directly owns 1,347,781 shares of the company’s stock, valued at $14,973,846.91. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Joseph John Corso sold 4,461 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $11.44, for a total transaction of $51,033.84. Following the completion of the transaction, the chief financial officer now directly owns 171,434 shares of the company’s stock, valued at approximately $1,961,204.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

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.