Hurco Companies (NASDAQ:HURC) Cut to Sell at StockNews.com

StockNews.com cut shares of Hurco Companies (NASDAQ:HURC) from a hold rating to a sell rating in a research report released on Wednesday morning.

Hurco Companies Trading Down 1.0 %

Shares of NASDAQ HURC opened at $22.66 on Wednesday. The firm has a market capitalization of $146.16 million, a price-to-earnings ratio of -11.50 and a beta of 0.38. Hurco Companies has a one year low of $14.82 and a one year high of $28.20. The business has a fifty day simple moving average of $20.63 and a 200 day simple moving average of $18.27.

Hurco Companies (NASDAQ:HURC) last announced its quarterly earnings data on Friday, September 6th. The scientific and technical instruments company reported ($1.47) earnings per share (EPS) for the quarter. Hurco Companies had a negative net margin of 6.40% and a negative return on equity of 5.87%. The business had revenue of $42.65 million during the quarter.

Insider Activity

In related news, major shareholder Polar Asset Management Partner sold 24,300 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $22.50, for a total transaction of $546,750.00. Following the completion of the transaction, the insider now owns 806,943 shares in the company, valued at $18,156,217.50. This trade represents a 2.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Hurco Companies stock. George Kaiser Family Foundation boosted its position in shares of Hurco Companies, Inc. (NASDAQ:HURC) by 27.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,555 shares of the scientific and technical instruments company’s stock after purchasing an additional 5,314 shares during the period. Hurco Companies comprises about 0.1% of George Kaiser Family Foundation’s investment portfolio, making the stock its 17th biggest position. George Kaiser Family Foundation owned 0.38% of Hurco Companies worth $517,000 at the end of the most recent reporting period. 74.36% of the stock is currently owned by institutional investors and hedge funds.

About Hurco Companies

Hurco Companies, Inc, an industrial technology company, designs, manufactures, and sells computerized machine tools to companies in the metal cutting industry worldwide. Its principal products include general-purpose computerized machine tools, including vertical and horizontal machining centers, turning centers, and toolroom machines.