Penn Capital Management Company LLC Purchases 228,933 Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC)

Penn Capital Management Company LLC boosted its stake in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 17.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,535,182 shares of the medical technology company's stock after buying an additional 228,933 shares during the quarter. Alphatec makes up about 1.4% of Penn Capital Management Company LLC's investment portfolio, making the stock its 19th largest position. Penn Capital Management Company LLC owned 1.08% of Alphatec worth $14,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its position in shares of Alphatec by 0.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 312,954 shares of the medical technology company's stock worth $2,873,000 after acquiring an additional 1,120 shares during the last quarter. Summit Investment Advisors Inc. lifted its position in Alphatec by 14.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,890 shares of the medical technology company's stock valued at $100,000 after purchasing an additional 1,342 shares during the period. Rhumbline Advisers boosted its stake in shares of Alphatec by 1.3% in the 4th quarter. Rhumbline Advisers now owns 139,088 shares of the medical technology company's stock valued at $1,277,000 after purchasing an additional 1,746 shares during the last quarter. Swiss National Bank grew its position in shares of Alphatec by 1.1% during the 4th quarter. Swiss National Bank now owns 207,200 shares of the medical technology company's stock worth $1,902,000 after buying an additional 2,300 shares during the period. Finally, CIBC Private Wealth Group LLC raised its stake in shares of Alphatec by 19.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 17,154 shares of the medical technology company's stock worth $166,000 after buying an additional 2,750 shares during the last quarter. Institutional investors and hedge funds own 66.35% of the company's stock.

Insider Buying and Selling at Alphatec

In related news, EVP David Sponsel sold 36,256 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $11.42, for a total value of $414,043.52. Following the transaction, the executive vice president now owns 735,074 shares in the company, valued at approximately $8,394,545.08. This represents a 4.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Scott Lish sold 27,453 shares of the business's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $11.49, for a total transaction of $315,434.97. Following the completion of the sale, the chief operating officer now directly owns 867,677 shares of the company's stock, valued at approximately $9,969,608.73. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 272,113 shares of company stock valued at $3,121,225 in the last 90 days. 22.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on ATEC. HC Wainwright reaffirmed a "buy" rating and set a $20.00 target price on shares of Alphatec in a report on Monday, April 14th. Needham & Company LLC reaffirmed a "buy" rating and set a $16.00 price objective on shares of Alphatec in a research note on Thursday, February 27th. StockNews.com upgraded Alphatec from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Piper Sandler raised their target price on Alphatec from $12.00 to $13.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. Finally, Barclays upped their price target on Alphatec from $20.00 to $21.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Alphatec presently has an average rating of "Moderate Buy" and a consensus target price of $17.67.

Alphatec Stock Down 3.3 %

Shares of ATEC traded down $0.38 on Monday, hitting $11.13. The company's stock had a trading volume of 1,658,537 shares, compared to its average volume of 2,050,465. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of -8.70 and a beta of 1.20. The firm's fifty day moving average price is $10.40 and its 200-day moving average price is $9.72. Alphatec Holdings, Inc. has a fifty-two week low of $4.88 and a fifty-two week high of $13.79.

Alphatec (NASDAQ:ATEC - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The medical technology company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.04). The company had revenue of $176.79 million during the quarter, compared to analyst estimates of $172.74 million. Alphatec had a negative net margin of 31.06% and a negative return on equity of 541.39%. On average, equities research analysts expect that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Alphatec Company Profile

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders in the United States and internationally. It manufactures and sells implants and instruments through third-party suppliers. The company offers Alpha InformatiX product platform, including EOS imaging system that provides full-body imaging; VEA alignment mobile application, which leverages EOS technology to more quickly quantify alignment parameters on a mobile device; SafeOp Neural InformatiX System that automates electromyographic and somatosensory evoked potential monitoring; and Valence, an intra-operative system that integrates navigation and robotics into spine procedures, as well as Sigma Prone TransPsoas (PTP) Access and PTP Patient Positioning Systems.