Marathon Asset Management Ltd Sells 102,009 Shares of nLIGHT, Inc. (NASDAQ:LASR)

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

A number of other large investors have also made changes to their positions in LASR. nVerses Capital LLC raised its stake in nLIGHT by 500.0% in the 3rd quarter. nVerses Capital LLC now owns 4,200 shares of the company’s stock worth $45,000 after acquiring an additional 3,500 shares during the last quarter. Creative Planning acquired a new position in shares of nLIGHT in the 3rd quarter valued at $136,000. ProShare Advisors LLC raised its position in shares of nLIGHT by 15.0% in the first quarter. ProShare Advisors LLC now owns 11,518 shares of the company’s stock worth $150,000 after acquiring an additional 1,503 shares during the period. Price T Rowe Associates Inc. MD boosted its position in 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 in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in nLIGHT in the 3rd quarter valued at $179,000. 83.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at nLIGHT

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

Analysts Set New Price Targets

LASR has been the subject of a number of recent research reports. Cantor Fitzgerald started coverage on shares of nLIGHT in a report on Thursday, October 3rd. They issued an “overweight” rating and a $15.50 price objective for the company. Benchmark reiterated a “speculative buy” rating and set a $17.00 price target on shares of nLIGHT in a research report on Friday, August 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $15.00 price target on shares of nLIGHT in a research note on Monday, August 5th.

nLIGHT Price Performance

NASDAQ LASR opened at $11.23 on Friday. nLIGHT, Inc. has a 1-year low of $8.13 and a 1-year high of $15.00. The company has a market capitalization of $534.15 million, a P/E ratio of -11.01 and a beta of 2.35. The business has a 50 day moving average price of $11.06 and a 200 day moving average price of $11.68.

nLIGHT (NASDAQ:LASR) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. nLIGHT had a negative net margin of 25.62% and a negative return on equity of 19.58%. The company had revenue of $50.51 million for the quarter, compared to analyst estimates of $49.23 million. During the same quarter last year, the business earned ($0.18) EPS. nLIGHT’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, research analysts expect that nLIGHT, Inc. will post -0.98 earnings per share for the current fiscal year.

nLIGHT Company 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.