Systematic Financial Management LP Invests $1,785,000 in iRobot Co. (IRBT)
Systematic Financial Management LP bought a new position in shares of iRobot Co. (NASDAQ:IRBT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 50,910 shares of the company’s stock, valued at approximately $1,785,000. Systematic Financial Management LP owned approximately 0.19% of iRobot at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of IRBT. Tributary Capital Management LLC acquired a new stake in iRobot during the second quarter worth $5,704,000. First Republic Investment Management Inc. increased its stake in iRobot by 97.6% in the first quarter. First Republic Investment Management Inc. now owns 159,957 shares of the company’s stock worth $5,646,000 after buying an additional 78,997 shares during the period. SECOR Capital Advisors LP acquired a new stake in iRobot during the second quarter worth $2,632,000. Spark Investment Management LLC increased its stake in iRobot by 70.9% in the first quarter. Spark Investment Management LLC now owns 128,200 shares of the company’s stock worth $4,525,000 after buying an additional 53,200 shares during the period. Finally, TrimTabs Asset Management LLC acquired a new stake in iRobot during the second quarter worth $1,414,000. Hedge funds and other institutional investors own 77.40% of the company’s stock.
Shares of iRobot Co. (NASDAQ:IRBT) traded down 0.59% during mid-day trading on Thursday, hitting $42.91. The stock had a trading volume of 211,825 shares. The company has a 50 day moving average price of $40.11 and a 200 day moving average price of $37.15. The firm has a market cap of $1.17 billion, a P/E ratio of 30.87 and a beta of 1.59. iRobot Co. has a 12-month low of $28.02 and a 12-month high of $44.20.
iRobot (NASDAQ:IRBT) last posted its earnings results on Tuesday, July 26th. The company reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.07. iRobot had a return on equity of 10.39% and a net margin of 6.49%. The company had revenue of $148.70 million for the quarter, compared to analyst estimates of $148.10 million. During the same period last year, the company earned $0.24 earnings per share. The business’s revenue was down .1% compared to the same quarter last year. Equities analysts forecast that iRobot Co. will post $1.32 earnings per share for the current fiscal year.
IRBT has been the topic of a number of analyst reports. Canaccord Genuity restated a “buy” rating and issued a $45.00 price target on shares of iRobot in a research note on Wednesday, August 10th. Needham & Company LLC restated a “buy” rating and issued a $46.00 price target (up from $42.00) on shares of iRobot in a research note on Friday, September 16th. Finally, JPMorgan Chase & Co. upgraded iRobot from an “underweight” rating to a “neutral” rating in a research note on Wednesday, June 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $39.00.
In other iRobot news, Director Ronald Chwang sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $40.11, for a total transaction of $401,100.00. Following the transaction, the director now directly owns 27,916 shares in the company, valued at $1,119,710.76. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Andrea Geisser sold 3,243 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $40.19, for a total value of $130,336.17. Following the transaction, the director now owns 54,226 shares in the company, valued at $2,179,342.94. The disclosure for this sale can be found here. Company insiders own 5.53% of the company’s stock.
iRobot Company Profile
iRobot Corporation is engaged in designing and building robots. The Company’s portfolio of solutions focus on technologies for the connected home and concepts in navigation, mobility, mapping and artificial intelligence. The Company operates through consumer robots segment. It designs robots for the consumer, telemedicine and mobile video collaboration markets.
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