Comerica Bank Acquires Shares of 20,708 Control4 Corporation (CTRL)
Comerica Bank acquired a new stake in Control4 Corporation (NASDAQ:CTRL) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,708 shares of the electronics maker’s stock, valued at approximately $594,000. Comerica Bank owned approximately 0.08% of Control4 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in CTRL. Gerber Kawasaki Wealth & Investment Management bought a new position in Control4 in the second quarter worth about $2,463,000. Vanguard Group Inc. raised its holdings in Control4 by 7.9% in the first quarter. Vanguard Group Inc. now owns 800,032 shares of the electronics maker’s stock worth $12,633,000 after purchasing an additional 58,738 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in Control4 by 11.3% in the second quarter. Lord Abbett & CO. LLC now owns 800,964 shares of the electronics maker’s stock worth $15,707,000 after purchasing an additional 81,180 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Control4 by 38.3% in the second quarter. Renaissance Technologies LLC now owns 850,400 shares of the electronics maker’s stock worth $16,676,000 after purchasing an additional 235,700 shares in the last quarter. Finally, Wellington Shields Capital Management LLC raised its holdings in Control4 by 11.4% in the third quarter. Wellington Shields Capital Management LLC now owns 34,100 shares of the electronics maker’s stock worth $1,005,000 after purchasing an additional 3,500 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.
A number of equities analysts have commented on the stock. Cowen set a $30.00 target price on shares of Control4 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Zacks Investment Research upgraded shares of Control4 from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Wednesday, August 9th. BidaskClub upgraded shares of Control4 from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 12th. UBS downgraded shares of Control4 from an “outperform” rating to a “market perform” rating in a report on Friday, November 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $25.00 target price (up from $22.00) on shares of Control4 in a report on Wednesday, August 9th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $25.50.
In other news, CEO Martin Plaehn sold 222,000 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $32.25, for a total transaction of $7,159,500.00. Following the sale, the chief executive officer now owns 169,257 shares in the company, valued at $5,458,538.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Greg Bishop sold 2,254 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $32.90, for a total value of $74,156.60. Following the sale, the insider now owns 15,961 shares in the company, valued at approximately $525,116.90. The disclosure for this sale can be found here. Insiders have sold 360,766 shares of company stock worth $11,761,260 in the last 90 days. Insiders own 6.10% of the company’s stock.
Shares of Control4 Corporation (NASDAQ CTRL) opened at $30.44 on Wednesday. Control4 Corporation has a 52 week low of $10.08 and a 52 week high of $35.99. The firm has a market capitalization of $778.97, a PE ratio of 47.43, a PEG ratio of 3.01 and a beta of -0.51.
Control4 (NASDAQ:CTRL) last issued its quarterly earnings results on Thursday, November 2nd. The electronics maker reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.20. Control4 had a return on equity of 11.63% and a net margin of 5.96%. The business had revenue of $64.70 million for the quarter, compared to analyst estimates of $63.59 million. During the same quarter in the previous year, the firm earned $0.26 earnings per share. The company’s revenue was up 17.2% on a year-over-year basis. analysts forecast that Control4 Corporation will post 0.68 earnings per share for the current fiscal year.
Control4 Corporation (Control4) is a provider of smart home and business solutions. The Company’s smart home and small business solutions provide consumers with the ability to integrate audio, video, lighting, temperature, security, communications, network management and other functionalities into a unified automation solution, customized to match their lifestyles and business needs.
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