Meros Investment Management LP Invests $4.84 Million in Hurco Companies, Inc. $HURC

Meros Investment Management LP purchased a new stake in shares of Hurco Companies, Inc. (NASDAQ:HURCFree Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 211,318 shares of the scientific and technical instruments company’s stock, valued at approximately $4,838,126. Hurco Companies comprises approximately 0.0% of Meros Investment Management LP’s holdings, making the stock its 29th largest position. Meros Investment Management LP owned approximately 3.26% of Hurco Companies as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Hurco Companies during the 2nd quarter valued at about $3,619,000. George Kaiser Family Foundation purchased a new position in Hurco Companies in the second quarter valued at approximately $1,846,000. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of Hurco Companies in the 2nd quarter worth about $1,702,000. Marshall Wace LLP boosted its position in Hurco Companies by 180.3% during the 4th quarter. Marshall Wace LLP now owns 75,246 shares of the scientific and technical instruments company’s stock worth $1,163,000 after acquiring an additional 48,397 shares during the period. Finally, Brooklands Fund Management Ltd lifted its stake in Hurco Companies by 15.8% during the first quarter. Brooklands Fund Management Ltd now owns 354,068 shares of the scientific and technical instruments company’s stock valued at $5,208,000 after buying an additional 48,377 shares in the last quarter. Hedge funds and other institutional investors own 74.36% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hurco Companies in a research note on Friday, July 17th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Hurco Companies presently has an average rating of “Sell”.

Get Our Latest Report on Hurco Companies

Hurco Companies Price Performance

HURC stock traded up $0.30 on Friday, reaching $22.82. 3,464 shares of the company traded hands, compared to its average volume of 27,719. The firm has a fifty day simple moving average of $22.15 and a 200-day simple moving average of $18.78. Hurco Companies, Inc. has a one year low of $14.50 and a one year high of $23.75. The company has a market cap of $147.78 million, a P/E ratio of -11.64 and a beta of 0.70.

Hurco Companies (NASDAQ:HURCGet Free Report) last released its earnings results on Friday, June 5th. The scientific and technical instruments company reported ($0.37) earnings per share for the quarter. Hurco Companies had a negative return on equity of 6.37% and a negative net margin of 6.92%.The business had revenue of $47.62 million during the quarter.

About Hurco Companies

(Free Report)

Hurco Companies, Inc designs, manufactures, and distributes computer numerical control (CNC) machine tools and control systems for the global manufacturing industry. The company’s product portfolio includes CNC vertical machining centers, turning centers, and custom-engineered special machines under the Hurco and Beta CNC brands. In addition to hardware, Hurco develops proprietary control software that enables machinists to program complex parts quickly and efficiently, reducing setup time and improving productivity.

Founded in 1968 and headquartered in Indianapolis, Indiana, Hurco serves a wide range of industrial markets, including aerospace, automotive, medical, energy, and consumer products.

Further Reading

Institutional Ownership by Quarter for Hurco Companies (NASDAQ:HURC)

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