Meros Investment Management LP acquired a new stake in Hurco Companies, Inc. (NASDAQ:HURC – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 211,318 shares of the scientific and technical instruments company’s stock, valued at approximately $4,838,126,000. Hurco Companies comprises about 1.5% of Meros Investment Management LP’s portfolio, making the stock its 29th biggest position. Meros Investment Management LP owned about 3.26% of Hurco Companies as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in HURC. Brooklands Fund Management Ltd boosted its position in shares of Hurco Companies by 15.8% in the 1st quarter. Brooklands Fund Management Ltd now owns 354,068 shares of the scientific and technical instruments company’s stock worth $5,208,000 after purchasing an additional 48,377 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in Hurco Companies in the second quarter valued at about $1,702,000. George Kaiser Family Foundation acquired a new position in Hurco Companies in the second quarter valued at about $1,846,000. GSA Capital Partners LLP acquired a new position in Hurco Companies in the second quarter valued at about $499,000. Finally, State of Wyoming bought a new position in Hurco Companies during the second quarter worth about $199,000. 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 analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Hurco Companies has a consensus rating of “Sell”.
Hurco Companies Stock Up 0.2%
Shares of NASDAQ HURC opened at $22.69 on Wednesday. Hurco Companies, Inc. has a twelve month low of $14.50 and a twelve month high of $23.75. The stock has a market cap of $147.03 million, a price-to-earnings ratio of -11.58 and a beta of 0.70. The company’s fifty day moving average is $22.12 and its 200-day moving average is $18.71.
Hurco Companies (NASDAQ:HURC – Get Free Report) last released its quarterly earnings data on Friday, June 5th. The scientific and technical instruments company reported ($0.37) EPS for the quarter. The firm had revenue of $47.62 million during the quarter. Hurco Companies had a negative net margin of 6.92% and a negative return on equity of 6.37%.
Hurco Companies Company Profile
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.
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