Marathon Asset Management Ltd Decreases Position in nLIGHT, Inc. (NASDAQ:LASR)

Marathon Asset Management Ltd lessened its stake in shares of nLIGHT, Inc. (NASDAQ:LASR - Free Report) by 10.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 881,144 shares of the company's stock after selling 102,009 shares during the period. Marathon Asset Management Ltd owned 1.85% of nLIGHT worth $9,419,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of LASR. Pinnacle Associates Ltd. raised its holdings in shares of nLIGHT by 18.1% during the 2nd quarter. Pinnacle Associates Ltd. now owns 2,020,769 shares of the company's stock worth $22,087,000 after acquiring an additional 309,634 shares during the period. Divisar Capital Management LLC raised its holdings in shares of nLIGHT by 9.4% during the 2nd quarter. Divisar Capital Management LLC now owns 1,545,935 shares of the company's stock worth $16,897,000 after acquiring an additional 133,023 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of nLIGHT by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,147,845 shares of the company's stock worth $12,547,000 after acquiring an additional 47,267 shares during the period. GSA Capital Partners LLP raised its holdings in shares of nLIGHT by 112.0% during the 1st quarter. GSA Capital Partners LLP now owns 65,952 shares of the company's stock worth $857,000 after acquiring an additional 34,844 shares during the period. Finally, AQR Capital Management LLC purchased a new position in shares of nLIGHT during the 2nd quarter worth $271,000. Hedge funds and other institutional investors own 83.88% of the company's stock.

Insider Buying and Selling at nLIGHT

In other nLIGHT news, CFO Joseph John Corso sold 4,461 shares of nLIGHT stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $11.44, for a total value 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 $1,961,204.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other nLIGHT news, CFO Joseph John Corso sold 4,461 shares of nLIGHT stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $11.44, for a total value 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 $1,961,204.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Scott H. Keeney sold 15,000 shares of nLIGHT stock in a transaction dated 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 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 corporate insiders.

Analyst Ratings Changes

Several research firms have recently commented on LASR. Benchmark reiterated a "speculative buy" rating and set a $17.00 price target on shares of nLIGHT in a report on Friday, August 2nd. Needham & Company LLC reissued a "buy" rating and set a $15.00 price objective on shares of nLIGHT in a research report on Monday, August 5th. Finally, Cantor Fitzgerald initiated coverage on nLIGHT in a research report on Thursday, October 3rd. They set an "overweight" rating and a $15.50 price objective for the company.

nLIGHT Price Performance

Shares of NASDAQ:LASR traded down $0.21 during midday trading on Friday, reaching $11.02. 183,271 shares of the company's stock were exchanged, compared to its average volume of 217,188. The firm's 50 day simple moving average is $11.07 and its two-hundred day simple moving average is $11.67. The stock has a market cap of $524.17 million, a price-to-earnings ratio of -10.80 and a beta of 2.35. nLIGHT, Inc. has a fifty-two week low of $8.13 and a fifty-two week high of $15.00.

nLIGHT (NASDAQ:LASR - Get Free Report) last released its earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.03. The company had revenue of $50.51 million during the quarter, compared to the consensus estimate of $49.23 million. nLIGHT had a negative return on equity of 19.58% and a negative net margin of 25.62%. nLIGHT's revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.18) EPS. Equities research analysts predict 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.