Royce & Associates LP Acquires 335,182 Shares of CUI Global, Inc. (CUI)
Royce & Associates LP boosted its holdings in CUI Global, Inc. (NASDAQ:CUI) by 54.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 948,607 shares of the industrial products company’s stock after acquiring an additional 335,182 shares during the quarter. Royce & Associates LP owned 4.53% of CUI Global worth $3,643,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Croft Leominster Inc. lifted its position in shares of CUI Global by 4.0% during the 1st quarter. Croft Leominster Inc. now owns 153,330 shares of the industrial products company’s stock worth $727,000 after buying an additional 5,930 shares in the last quarter. Argent Capital Management LLC bought a new position in shares of CUI Global during the 1st quarter worth approximately $840,000. Finally, WealthTrust Axiom LLC lifted its position in shares of CUI Global by 10.5% during the 2nd quarter. WealthTrust Axiom LLC now owns 514,594 shares of the industrial products company’s stock worth $1,976,000 after buying an additional 48,832 shares in the last quarter. 63.13% of the stock is currently owned by institutional investors and hedge funds.
CUI Global, Inc. (NASDAQ CUI) opened at 3.64 on Friday. The firm’s 50 day moving average is $3.55 and its 200 day moving average is $4.14. The company’s market cap is $76.42 million. CUI Global, Inc. has a 52-week low of $3.01 and a 52-week high of $7.39.
CUI Global (NASDAQ:CUI) last issued its quarterly earnings data on Wednesday, August 9th. The industrial products company reported ($0.07) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.05. The company had revenue of $22.50 million for the quarter, compared to the consensus estimate of $19.96 million. CUI Global had a negative net margin of 10.29% and a negative return on equity of 16.61%. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. Analysts forecast that CUI Global, Inc. will post ($0.39) EPS for the current fiscal year.
Several equities analysts have commented on CUI shares. Ladenburg Thalmann Financial Services started coverage on shares of CUI Global in a research report on Wednesday, May 31st. They set a “buy” rating and a $8.00 target price on the stock. HC Wainwright set a $12.00 target price on shares of CUI Global and gave the stock a “buy” rating in a research report on Thursday, August 10th. Finally, Zacks Investment Research raised shares of CUI Global from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 11th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $9.00.
In related news, CEO William J. Clough acquired 17,500 shares of the stock in a transaction that occurred on Thursday, June 15th. The shares were bought at an average price of $3.28 per share, for a total transaction of $57,400.00. Following the completion of the transaction, the chief executive officer now directly owns 37,666 shares in the company, valued at $123,544.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.67% of the stock is owned by corporate insiders.
About CUI Global
CUI Global, Inc is a platform company. The Company’s segments include Power and Electromechanical, Energy and Other. The Power and Electromechanical segment includes its subsidiaries, CUI, Inc (CUI), CUI Japan and CUI-Canada, Inc, which provide electromechanical components, including power supplies, transformers, converters, connectors and industrial controls for original equipment manufacturers (OEMs).
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