Hodges Capital Management Inc. Increases Stake in Symbotic Inc. (NASDAQ:SYM)

Hodges Capital Management Inc. increased its stake in Symbotic Inc. (NASDAQ:SYM - Free Report) by 7.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 273,841 shares of the company's stock after acquiring an additional 20,111 shares during the quarter. Hodges Capital Management Inc.'s holdings in Symbotic were worth $6,492,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SYM. Castleview Partners LLC grew its position in Symbotic by 50.0% in the third quarter. Castleview Partners LLC now owns 1,500 shares of the company's stock worth $37,000 after acquiring an additional 500 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in shares of Symbotic in the third quarter valued at $49,000. RiverPark Advisors LLC boosted its holdings in Symbotic by 147.1% in the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company's stock valued at $50,000 after purchasing an additional 1,211 shares during the period. Quest Partners LLC grew its stake in Symbotic by 19,307.7% during the 3rd quarter. Quest Partners LLC now owns 2,523 shares of the company's stock worth $62,000 after purchasing an additional 2,510 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in Symbotic by 28.4% during the 3rd quarter. Van ECK Associates Corp now owns 3,497 shares of the company's stock worth $85,000 after purchasing an additional 774 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SYM. Craig Hallum downgraded Symbotic from a "buy" rating to a "hold" rating and set a $25.00 price objective for the company. in a research report on Wednesday, November 27th. William Blair restated a "market perform" rating on shares of Symbotic in a report on Thursday, December 5th. Needham & Company LLC cut their price target on Symbotic from $35.00 to $32.00 and set a "buy" rating on the stock in a research note on Thursday. Oppenheimer started coverage on Symbotic in a research report on Wednesday, January 15th. They set an "outperform" rating and a $35.00 price objective for the company. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $60.00 target price on shares of Symbotic in a research report on Thursday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $38.33.

Insiders Place Their Bets

In other news, Director Todd Krasnow sold 2,000 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $24.04, for a total value of $48,080.00. Following the sale, the director now owns 214,036 shares of the company's stock, valued at approximately $5,145,425.44. This represents a 0.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Carol J. Hibbard sold 4,055 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $30.70, for a total value of $124,488.50. Following the sale, the chief financial officer now owns 44,386 shares in the company, valued at $1,362,650.20. The trade was a 8.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 94,007 shares of company stock valued at $2,827,909 over the last ninety days. Corporate insiders own 0.60% of the company's stock.

Symbotic Trading Down 15.9 %

SYM traded down $4.93 on Thursday, reaching $25.99. The company had a trading volume of 6,869,046 shares, compared to its average volume of 2,658,884. The company has a market capitalization of $15.27 billion, a P/E ratio of -433.17, a PEG ratio of 7.29 and a beta of 1.79. Symbotic Inc. has a one year low of $17.11 and a one year high of $50.40. The company has a fifty day moving average of $27.11 and a 200-day moving average of $26.82.

Symbotic (NASDAQ:SYM - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. Research analysts predict that Symbotic Inc. will post 0.13 EPS for the current year.

Symbotic Profile

Symbotic Inc, an automation technology company, engages in developing technologies to improve operating efficiencies in modern warehouses. The company automates the processing of pallets and cases in large warehouses or distribution centers for retail companies. Its systems enhance operations at the front end of the supply chain.